Piling On

As every major economics blog has already reported, Brad Setser is walking away from his blog to work for the National Economic Council. Setser’s blog was one of the best at actually providing original information and analysis (data, even) you couldn’t get anyplace else; the only other competitor in that category that springs to mind is Econbrowser. It was the first place I looked when I had a question about the trade deficit, the Chinese-American economic relationship, or foreign currency reserves. We’ll all be worse off as bloggers, hopefully better off as citizens of the United States.

By James Kwak

4 thoughts on “Piling On

  1. So now we have two RGE Monitor alumni advising the executive branch. Things are starting to get interesting.

    It looks like they have someone pretty sharp watching over the content at the CoFR website. Setser’s bio page there was taken down within minutes of his last post. They did leave behind his hi-rez photo and very basic .pdf cv along with the blog itself, so it’s not as violent a change as it could have been.

    “One” wonders if he’s just another highly educated person who fails to realize (or doesn’t care) who he’s really working for.

  2. Capital markets are unstable. In the past there was no way to make them stable. But today we have computer power that can be used to make them stable.

    By using the greater computer power of today we can have a much higher turn over of capital in the capital market. This higher turnover will make the market harder to game or control and the market will no longer have the unstable run ups or declines. Who can change or control the market when say 20% of the capital is trading each day?

    So now that we have the compute power to provide for all these transactions that will smooth out the market how do we force people to turn over at a rate of 20% a day? Easy, put a cap gains tax of 0% (zero) on all gains of 7 days or less and put a cap gains tax of 90% of all gains of more than 7 days.

    The likes of Yahoo, Micosoft and/or Sun Micro Systems will give us the systems that will provide automated software agents to support turning over one’s investments every 7 days (based on the specs you give the agent).

    A system like this will make the financial markets work as smoothly as the local fruit market.

  3. I think you made an excellent point about original material James. I read Andrew Sullivan’s site (I don’t think it qualifies as a true blog because he kisses up to the Atlantic too much and reroutes traffic back to the magazine). Sullivan is always taking cheap shots at mainstream media (MSM). I think some bloggers need to stay away from cheap shots at MSM until they start producing their own materials. The truth is, Sullivan would have VERY FEW things to talk about if those MSM folks weren’t out there pounding the pavement.

    Baseline has contributors like Elizabeth Warren and Arindrajit Dube and does a better job than most with some original thoughts.

Comments are closed.