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Author: jwelcome

Wealth Taxes Are a Dying Breed

For those curious to learn more about wealth taxes, Brad DeLong recommends a primer written a few months ago over at Equitable Growth. It’s a good introduction, but in the end the most important takeaway is probably this: Most countries have given up on wealth taxes because the game wasn’t worth the candle. There are…

The Great Yield Curve Inversion of 2019

Yesterday the yield curve inverted: the interest rates on 10-year treasury bonds were briefly lower than the interest rates on 2-year bonds. But that’s not a curve. It’s just two points. So why is it called a yield curve? Here’s why: If you plot the interest rates for all the different US treasury bonds, you…