Tag Archives: Fed Economic Policy

Public Knowledge, Projections, and Memory

In 1978, the U. S. Congress enacted energy legislation that outlawed the use of Natural Gas to generate electricity.  “knowledgeable Experts” were projecting that we would be out of natural gas by 1985.  Thus the popular opinion was we were facing a … Continue reading

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It’s a Wonderful Life, the Rationing of Capital, and Economic Recovery

The movie “It’s a Wonderful Life” is shown every year at Christmas and we usually watch it.  This year was no different.  Mr. Bailey of Bailey Savings and loan is shown what life would be like if he hadn’t been … Continue reading

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The Definition of Insanity and the Fed

One of the definitions of “insanity” is to keep doing the same things over and over and expecting a different result.  The Federal Reserve Board has been keeping interest rates almost zero for more than 7 years now – longer … Continue reading

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Economic Issues & Elections

While trying to write some of my memoirs, I thought of some of my experiences as young engineering project manager in the Natural Gas Liquids Division of a major integrated oil company.  My first two projects had been building processing … Continue reading

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Leadership, Politics and the News – Part 2

In part 1 we tried to define leadership and how that might be different from dictatorship. This line of thought was brought on by an opinion piece in the paper by David Harsany which was headlined ” Admit it: you … Continue reading

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Macroeconomics and Scientific Laws – Part 2

The sun rises in the east and sets in the west.  Several centuries ago this was taken as evidence that the Sun revolved around the Earth – a logical and rational conclusion based on the evidence.  It was later proved … Continue reading

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Macroeconomics and the Ideal Gas Law – Part 1

I took a graduate course in the late 1960’s in Macroeconomics and Forecasting.  It was (of course) based on Keynesian Economic Theory.  The conventional thinking of the time, based on Keynes’ theories, was that government spending in excess of taxes … Continue reading

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