Month: May 2023

The Bear’s Lair: Breaking Through the Debt Ceiling

President Biden appears adamant that he will not yield one iota to the Republicans demanding spending cuts in return for increasing the debt limit. He also claims to believe that through the 14th Amendment he can issue debt unilaterally, without Congressional approval. By doing so, he would take the position of an absolute monarch, like […]

The Bear’s Lair: The Productivity Death Wish

Nonfarm labor productivity in the United States dropped at an annual rate of 2.7% in the first quarter of 2023, which followed a fall of 1.6% for 2022 as a whole. This does not appear to be a temporary phenomenon, or rather it appears coincident with the hyper-regulating Biden administration. Since productivity growth is key […]

The Bear’s Lair: An agenda for a Tucker Carlson presidency

The TV pundit Tucker Carlson, fired by Fox, is now seeking a new gig, but appears to be hampered by non-compete clauses in his agreement with Fox, which extends to December 2024. As the columnist Frank Miele of RealClearPolitics has suggested, one way around this would be for Carlson to run for President, which would […]

The Bear’s Lair: How to regulate banks

The collapses of Silicon Valley Bank, Signature Bank and First Republic Bank, all within six weeks, are a drastic failure of both bank regulation and Fed monetary policy. This column has written incessantly about the idiocies of Fed monetary policy and its GOSPLAN approach to interest rate setting; I would now like to focus on […]

The Bear’s Lair: Coronations have positive economic effects

The coronation of King Charles III next Saturday is planned to be on a smaller scale than that of his mother Queen Elizabeth II in 1953. That is appropriate; Elizabeth’s coronation may have taken place in a relatively poor country still living under the effects of postwar rationing, but it was graced with an immensely […]