Macroeconomic Management in the New Administration

today, as I was writing a short comment on the dollar’s prospects, I realized how much my views were informed by who was likely to be managing the macroeconomy. Just to make this point concrete, consider the economic team under Trump, as compared to under Obama as the latter confronted the Great Recession:

The Fed’s leadership won’t change immediately, but — importantly if you were wondering if there’d by dollar gyrations — there’s likely to be no Judy Shelton on the Board. Nor are nominations of the likes of Stephen Moore and (rest his soul) Herman Cain coming.

I have no inside information on who’s who on the incoming list. This NY Times article has some speculation. A bulletpoint list, from Marketwatch.

Some reasonable views on policy are represented here at the Peterson Institute for International Economics’s session on rebuilding the global economy, and I hope that the new team represents those views. Interestingly, some offices disappear (the Office of the Assistant for Trade and Manufacturing Policy is abolished if Doug Irwin has any say).



68 thoughts on “Macroeconomic Management in the New Administration

  1. Willie

    Maybe some real economists? I only qualify under Trump terms, so it looks like an appointment to the fed is out. Alas. But it will be better for the US and the world.

    1. Dr. Dysmalist

      What, you think that we can do better than to get advice from the Econ Clown Posse? You ingrate! After all they’ve done for to us!

    2. Moses Herzog

      For whatever it’s worth to you Willie, I’d take you over Kudlow in a heartbeat. It should go without saying I’d take you over Shelton or Moore.

      I might even take you over Mnuchin on the basis you have better intentions for society.

    1. Moses Herzog

      Sure damned hell gets my vote. For selfish reasons I’d miss reading them here though. Like going without caffeine, not reading a hardcopy crinkly newspaper for over 1 week, or…… no alcohol for extended period of time. Oh God, that last one is frightening. Maybe Menzie would get me Lael Brainard’s or Susan Rice’s autograph??

      Is that last one so damned much to ask. I mean, really???

      1. macroduck

        A deep bench is a help only if you make use of it. Getting the best ideas means listening to lots of ideas. I want you to have a voice, even if taxpayers don’t issue your W2.

  2. Moses Herzog

    Damn it, I swear to God I was gonna post that Ben Harris article here in comments Menzie, and you beat me to it. I don’t know what to make of the Harris choice. He doesn’t really knock me off my feet. But sometimes you can have a person like that who is good at making personnel choices. Then other times with guys like Harris a significant amount of cronyism seems to seep in. I’ll be watching closely as I just have a natural interest in these things. I doubt if Biden’s economic team will match Obama’s but I’m withholding judgement until we actually see what happens. I still contend that Geithner was an extremely poor choice, so no one appears to be perfect on this front although generally Obama was good at filling in those economic posts.

    1. Moses Herzog

      Having said that….. I should note that the Lael Brainard rumors are a SUPER “good sign” and reason for optimism on what Biden might bring.

      1. Moses Herzog

        @ pgl
        Gale was mentioned in the New York Times story. You are super good at regurgitating though. You are very good at regurgitating stories from TPM, after they copy/pasted them from Politico, which I usually read hours before TPM copied them, and then you read them in TPM thinking it’s originally sourced material.

        Since you are so impressed with William Gale, have you ever mentioned him ONCE on your blog?? I’m not arguing Gale is respected, but I think it’s easy to claim prior knowledge of Gale when his name is topical.

        You still haven’t told me how many female contributors you have on your “Econospeak” blog, or even the percentage of female authored posts over….. how many YEARS has that blog been up now??

        1. Menzie Chinn Post author

          Moses Herzog: Pretty sure anyone who’s written at intersection of public finance/macro knows of Bill Gale, even if they don’t mention him explicitly.

          1. Dr. Dysmalist

            I did micro (though I did read a few dozen articles on public finance for a separate project) yet I still know of William Gale. I would argue that he’s certainly better known than Ben Harris.

          2. Moses Herzog

            @ Menzie
            Although you know I’m given to sarcasm a decent amount in my comments on this blog, there is not one single electron’s mass of sarcasm in the following sentence. If you think “pgl” knew Gale’s name before, and could have told “you” William Gale’s specialty of study randomly in conversation, that’s good enough for me.

            Contrary to some people’s contention on this blog, I have always attempted to be 100% honest here in my thoughts and statements. I did not know who William Gale was, until reading his name in the NYT article, roughly 72 hours before this post in the hardcopy NYT. So I must confess to this grand sin of not knowing a Mr. William Gale until reading the NYT article.

            For the record, still not impressed with Ben Harris. That’s not to say I think he’s some flunky, it just means I don’t see much there to be super-impressed with the guy, or enough impressed with him, to trust him having a large hand in assembling White House economic staff. Just like I was happy to be wrong in not believing Biden would win the Presidency, I’d also be happy to be wrong here about Harris.

          3. Barkley Rosser

            This may be a waste of time here, but given how much carrying on Moses has done about Econospeak, perhaps I should tell folks a bit about it and its history, apology to anybody who finds this of no interest.

            So I shall do this in two comments, with this one about its predecessor. That was Maxspeak, which had more influence and a higher ranking than Econospeak and was in the top 10 of econoblogs back in the mid-noughties, the heyday of econoblogging (one reason it is probably a waste of time and money going around trying to recruit women economists to blog id that it is a dying venue, as has been noted here by Menzie himself). We used to regularly get over 100 comments on a post, with it reported that we had influence among Congressional staffers, and on a couple of issues I know we actually had real influence on the debate in Washington, something i do not think I can claim for Econospeak.

            I mostly credit Max for this, Max Sawicky, the founder and owner and most frequent poster there, who worked at the Economic Policy Institute (EPI), the think tank supported by the AFL-CIO. He was both knowledgeable but also very witty, which I think was a key to the blog’s popularity. I was probably the second most frequent poster, there, and Sandwichman (aka Tom Walker) who is a poster on Econospeak was one as well. We had Dean Baker as a poster before he started his own blog and also Jason Furman for awhile before he became an Obama admin official.

            One issue where we were especially influential, both in terms of the debate within the economics profession as well as among journalists and policymakers in Washington was Social Security. From the late 90s on there had been this bipartisan push to “reform” Social Security by cutting its benefits and raising its taxes, with the Washington Post ed page continuing to obsess over this until very recently with the retirement of Robert J. Samuelson (no relation to Paul, as pgl liked to point out; ogl was a regular commenter on Maxspeak). Dean Baker had been pointing out how the arguments for this were highly misleading from the 90s on and was jointed by Max, me, and a couple of regular commenters on Maxspeak, Bruce Webb, who seems to have largely disappeared, as well as coberly, who is on Angry Bear (and Bruce does show up there also once in awhile. as well). We were the leaders in the professional debate and certainly on the blogoshere arguing that really nothing needed to be done, and eventually got more prominent people like Paul Krguman to agree and take up the charge, which also involved convincing Barack Obama of this, which some of us (Bruce Webb and I in particular) succeeded in doing, along with some others, such as Jamie Galbratih.

            As part of that effort I cooked up Rosser’s Equation, named that by Bruce Webb and then picked up by others, which has its own Wikipedia entry.

            What eventually happened is that Max had to stop blogging because his wife had cancer and he needed a job with better health insurance. So he moved from EPI to the GAO, where he was not permitted to blog. So he shut down Maxspeak and started Econospeak, of which he is the hidden godfather. Along with me and Sandwichman, he invited some of the tegular commenters on Maxspeak to be posters, includin Peter Dorman, pgl, Kevin Quinn, and some others who no longer post, including Jim Devine and Brenda Rosser, a distant relative of mine who lives in Tasmania and mostly posted on environmental issues, although some times on others as well. She found out about Maxspeak through me, and she is still on the books as an official poster at Econospeak.

          4. Barkley Rosser

            So a bit of a followup about Econospeak, which I have basically described at the end of my last post about the more successful Maxspeak. As noted I cannot claim we have had major influence on any particular issue as was the case for several on Maxspeak, but we have have trundled along with the five people I mentioned still posting in varying amounts, with probably me and Sandwichman the most frequent. Max is still officially our boss, who does not post, although lately has in communications with me been kind of vague about various things, so I am not sure quite what is going on. I note that his wife did die of cancer. He has since retired, gotten remarried, and also restarted Maxspeak, which is just him these days, although much lower key than it once was. I had known him previously along with some others involved in all this, such as Peter Dorman and Jim Devine, although some of these folks I have never met, including Sandwichman and pgl (I have met Brenda Rosser) when I was in Sydney, Australia once).

            I have noted that one of our most frequent commenters is a woman, anne/anonymous. She and Fred Dobbs, another refugee from the former Economists View, may be responsible between them for as much as 80% of our posts. They post so much stuff that Sandwichman has taken to putting up Open Threads where they can ply us with their links and discussions that go all over the place. They are sort of like de facto posters. I do not know anything about either of them personally or professionally.

            I shall note that Econospeak also has its version of Moses Herzog, although in some ways he is a bit more like CoRev, Egmont. He is an actual PhD economist at a think tank in Germany who has a pet economic theory that I shall not discuss (I fear he may see this and come here and start posting about it). It is in the view of most of it a crackpot theory, and he is frustrated that he cannot publish papers on it in professional journals. The upshot is that he says that all economists besides himself and a few pet people he cherry picks things from are frauds and incompetent. None of us know algebra because we do not all fall down at his feet to worship him for having solved all the problems of economics. Really. He has posted his theory (it can be summarized in a fairly small number of equations) so many times on Econospeak i have lost count, and he has reappeared and is at it again. According to him Walrasians, Marxists, Keynesians, and Austrians are all frauds who do not understand his great solution to everything. He has lately taken to dumping on the MMT crowd as well who are also part of this garbage dump he sees all economists besides himself as being.

            How is he like Moses? Oh, he is obsesses with me and specifically goes after me quite vigorously, lots of personal insults and on and on. It is because I am the only one to actually argue with him and refute his silly theory, which I have done now many times and in many ways. Some of those thread have the longest ever on Econospeak, going over 100 comments like the old Maxspeak, but it is mostly Egmont acting like CoRev, constantly moving goal posts as he tries to restate his theory in this way and that. Sandwichman got o disgusted with him that he took to deleting his comments when he would try to get on Sandwichman’s threads. I have been, like Menzie here, more tolerant and let him do his thing, annoying as it is. He had actually gone silent for quite awhile, but as I said he has suddently reappeared, but I am not bothering to reply to his posts, which are just the same old same old, and nobody else is, so maybe he will just go away again and leave us alone.

        2. pgl

          I have mentioned him when I used to blog at Angrybear, which does BTW have women contributors. So your cute little pock shots only shows how utterly clueless you are.

          1. Moses Herzog

            @ pgl
            So, you STILL don’t want to answer the question of how many female contributors you have at Econospeak blog, or what percentage of the posts over the years you’ve been there are authored by female economists, because you know it makes you look exceedingly hypocritical. I understand. I roger that.

          2. Barkley Rosser


            Your question that you keep repeating was already answered. This is hardly the first time you have ignore being told something and continued to go on and on as if you were not.

            In fact there is oficially a female co-contributor, although she has not posted anything there for some time. I do not know why. Also, probably the second most frequent commenter is anne, formerly a super frequent commenter at the now defunct Economists View, although she calls hereself “Anonymous” on Econospeak. She comments as “anne” on Angru Bear, where posts from Econospeak get reposted later, and given that what this Anonymous posts on Eonospeak is veruy similar to what anne posts on AB, I am 99% certain it is anne, although none of us have pressed her to use her name on Econospeak.

            BTW, she posts more comments on Econospeak than on Angry Bear. Among other things she does there what ltr does here, constaintly posting updated on coronavirus cases across countries. Like him, and dating from her days on Economists View, she regularly defends the PRC very vigorously, most recently when I posted recently about the reports that China was behind the Hunter Biden laptop scandal, with there being two different tales claiming this, even as I noted there was reason to doubt these tales, which were pretty weird, one of them involving a non-existent cybersecurity analyst supposedly from Switzerland named Marten Aspe, whose photo has been shown to be photo shopped, not to mention that apparently nobody of that name is listed as living anywhere in Switzerland.

            Anyway, please stop lying about out supposed lack of having any female posters or commenters. You have already done enough lying here, Moses. Just cut it out, man.

          3. pgl

            “Moses Herzog
            November 8, 2020 at 12:16 pm”

            What follows is beyond stupid and pointless. I do not run Econospeak and Old Grumpy Moses knows that. Yet he keeps asking the same trolling question over and over. Why – because he has no point and he knows it.

            I would have never thought Old Moses would turn his comments into nothing more than Trump tweets. What a complete waste of time.

        3. pgl

          “You are very good at regurgitating stories from TPM, after they copy/pasted them from Politico, which I usually read hours before TPM copied them, and then you read them in TPM thinking it’s originally sourced material.”

          Of course Josh Marshall is very careful to attribute his sources and his regular readers do follow his links. So this ranks up there with the rest of your petty stupid comments. If you insist on acting like a spoiled two your old brat – maybe your mommy should put you down from more naps.

          Make a real point and stop acting like some Trumpian troll.

  3. ltr

    November 6, 2020



    Cases   ( 10,058,586)
    Deaths   ( 242,230)


    Cases   ( 8,460,773)
    Deaths   ( 125,605)


    Cases   ( 1,661,853)
    Deaths   ( 39,865)


    Cases   ( 1,146,484)
    Deaths   ( 48,475)


    Cases   ( 949,197)
    Deaths   ( 93,772)


    Cases   ( 641,362)
    Deaths   ( 11,364)


    Cases   ( 255,809)
    Deaths   ( 10,435)


    Cases   ( 86,151)
    Deaths   ( 4,634)

  4. ltr

    November 6, 2020

    Coronavirus   (Deaths per million)

    US   ( 730)
    Mexico   ( 725)
    UK   ( 713)
    France   ( 610)

    Canada   ( 276)
    Germany   ( 135)
    India   ( 91)
    China   ( 3)

    Notice the ratios of deaths to coronavirus cases are 9.9%, 4.2% and 2.4% for Mexico, the United Kingdom and France respectively.  These ratios are high, but have been significantly higher, while falling recently as new cases are being rapidly recorded.

  5. ltr

    November 7, 2020

    Chinese mainland reports 33 new COVID-19 cases, all from abroad

    The Chinese mainland registered 33 new COVID-19 cases on Friday, all from overseas, the National Health Commission announced.

    A total of 27 new asymptomatic COVID-19 cases were recorded, while 823 asymptomatic patients remain under medical observation. No COVID-19-related deaths were reported on Friday, and 33 patients were discharged from hospitals after recovering.

    As of Friday, the total number of confirmed COVID-19 cases reached 86,184, with 4,634 fatalities.

    Chinese mainland new imported cases

    Chinese mainland new asymptomatic cases

    [ There has been no coronavirus death on the Chinese mainland since May 17.  Since June began there have been 4 limited community clusters of infections, in Beijing, Dalian, Urumqi and Qingdao, each of which was contained with mass testing, contact tracing and quarantine, with each outbreak ending in a few weeks.

    Currently there is an apparently limited community cluster in Kashgar, with mass testing, contact tracing and quarantine again being used to identify the origin of as well as to contain and end the outbreak.

    Imported coronavirus cases are caught at entry points with required testing and immediate quarantine.  Asymptomatic cases are all quarantined.  The flow of imported cases to China is low, but has been persistent.

    There are now 419 active coronavirus cases in all on the Chinese mainland, 8 of which cases are classed as serious or critical. ]

  6. ltr

    November 6, 2020

    Coronavirus   (Deaths per million)

    Belgium   ( 1,079)
    Spain   ( 830)
    US   ( 730)
    Mexico   ( 725)

    UK   ( 713)
    Italy   ( 672)
    France   ( 610)
    Sweden   ( 595)

    Netherlands   ( 460)
    Ireland   ( 391)
    Switzerland   ( 312)
    Luxembourg   ( 286)

    Canada   ( 276)
    Portugal   ( 274)
    Austria   ( 148)
    Germany   ( 135)

    Denmark   ( 127)
    India   ( 91)
    Greece   ( 67)
    Finland   ( 65)

    Norway   ( 52)
    Australia   ( 35)
    Japan   ( 14)
    Korea   ( 9)

    China   ( 3)

  7. ltr

    November 7, 2020

    No infections among 56,000 people who traveled abroad after receiving Sinopharm-developed COVID-19 vaccine: developer

    None of the 56,000 people who were inoculated with a COVID-19 vaccine and travelled abroad have contracted the coronavirus, Sinopharm’s chairman said on Friday.

    Sinopharm Chairman Liu Jingzhen, said at a conference on Friday that some 100,000 people have been vaccinated with the company’s vaccine and have shown no adverse reactions so far. Among those who were inoculated and travelled aboard, none have been infected with the virus, said Liu.

    Some of those others who received the emergency-use vaccine are employees of China National Petroleum Corporation, China Petrochemical Corporation and Technology giant Huawei.

    Liu said that there are 99 people in Huawei’s Mexico office, and 81 were vaccinated. Ten unvaccinated employees contracted with the virus in an outbreak in this office.

    The fact that no one who received the vaccine has been infected, serves as more anecdotal evidence that the vaccine is working, Tao Lina, a Shanghai-based vaccine expert told the Global Times.

    The data signals Sinopharm vaccine may be close to being released on the market, Tao predicted.

    Liu said that since June, Sinopharm’s phase three clinic trial in dozens of countries and regions, including the UAE, Egypt, Bahrain, Peru and Morocco have more than 50,000 participants….

  8. ltr

    There is a person who has been harassing and frightening me, and I would prefer this stop. The problem is racial prejudice, and that needs to be addressed by professional counseling.

    Please stop harassing and frightening me.
    Please look to professional assistance for the prejudice.

  9. joseph

    Poor Donald. It’s not going to be easy sitting there fidgeting with his mouth shut listening to Joe Biden’s inaugural speech while looking across the biggest crowd he has ever seen in his life.

    1. Moses Herzog

      Respectfully joseph, you really think the Orange Abomination is going to show up to the inauguration?? Wow, your faith in the the most amoral segments of humanity knows no bounds.

    2. 2slugbaits

      Well, I wonder if Biden will want to have a traditional inauguration event with a big crowd and parade. COVID-19 is still with us and will still be with us on Jan 20th. Biden went through his entire campaign in COVID safe mode, so it would be quite a reversal to hold a big blue MAGA style rally.

      1. macroduck

        I think it would be a hoot if Biden were to go the whole social distancing route at his inauguration – masks, temperature checks, advance contact tracing, hula hoops on the ground for the audience. “Folks, we are going to beat this thing. The way we’re gonna do it is by actually trying. Welcome to the Biden administration.”

  10. joseph

    On the other hand, maybe not so crowded since we are still dealing with ineptitude of the handling of the Trump Virus.

  11. ltr

    November 7, 2020

    China’s CanSino launches Phase III clinical trial of COVID-19 vaccine in Mexico, 1st group gets vaccinated

    One of China’s vaccine developers announced on Saturday that it has launched the Phase III clinical trial for its COVID-19 vaccine in Mexico and has successfully vaccinated the first group of subjects.

    CanSinoBIO, the Chinese pharmaceutical company, told the Global Times on Saturday that it has initiated the Phase III clinical trial for a recombinant COVID-19 vaccine (Ad5-nCoV) it developed in Mexico.

    The study was approved by the Mexican authority in October. The trial aims to recruit a total number of 15,000 subjects to further demonstrate the efficacy of the candidate.

    In October, CanSinoBIO also signed an advance purchase agreement with Mexico’s government to supply 35 million doses of COVID-19 vaccine to the Mexicans in need….

  12. The Rage

    Trump won the swing vote ala Gore in 2000. It wasn’t until after the 2002 midterms W was able to build power.

    Don’t expect much. Just ending Covid would be a start.

  13. Moses Herzog

    In the not so distant past, I made a promise here on this blog to apologize to Nancy Pelosi if for once in her G*ddamned life, she didn’t hand McConnell and the Republicans a magnanimous political gift on a silver platter:

    Here goes…….

    Dear Speaker Pelosi,
    I have always assumed you are an incredibly dumb, politically tone deaf, vain, shallow, phonily “feminist” person, not really worthy of your job. While you are all of those things to a large degree, you are not quite as dumb, or the degree of dumb as I had always assumed you were. I am sorry for assuming you were THAT dumb. That was unfair, inaccurate, and an overestimated misreading of how dumb you were/are. You are in fact LESS dumb and inept than I had you gauged. I am sorry for being overly critical on that count.


    Moses Herzog (my internet pseudonym), young nephew to Barkley Rosser Junior.

    P.S. Good luck trying to ruin AOC’s political career trajectory, an issue I know you hold dear to your heart.

    1. pgl

      For God’s sake – stop insulting female political leaders. Unless you want to be thought of as another Trumpian brat.

      1. Moses Herzog

        @ pgl
        Where are the female economist contributors on your blog?? How many years have you been going now on Econospeak and what % of posts have been from females?? I’ll be waiting on that impressive number in your reply~~along with your milquetoast excuses “but, but, but……”

          1. Moses Herzog

            @ pgl
            So, you STILL do not want to quote the number of female contributors currently writing at “Econospeak” blog, or the percentage of female economists posts there over the multiple years you’ve been writing there, because it makes you look very hypocritical on your lip-service to gender issues?? I understand. I roger that. Have you asked a single woman economist EVER to write as a guest post contributor in your place at “Econospeak”?? One single female economist’s name you’ve requested to do a guest post on “Econospeak” over all the years you’ve written there will suffice. Because I know you’re so concerned about this.

          2. Barkley Rosser


            The quick answer is that one of the official posters at Econospeak is a woman, although she has chosen not to post anything recently. It is also the case that somewhere between a third and 40% of comments recently have been by a woman.

            Time for you to stop pursuing this really stupid point. You are indeed making yourself look almost ghoulishly trollish.

      2. Dr. Dysmalist


        Obviously, to Moses, Nancy Pelosi is too old.

        If you want an exercise in misogyny, go back and read all of his comments about women who are prominent in their fields. A woman might draw his initial attention by her writing or speeches, but she keeps his attention with her looks. That’s criterion number one for Moses.

        Sometimes, the looks are first. After all, Moses was a fan of Tulsi Gabbard until her vapid and/or vile words sank in.

        His comments about accomplished women usually include at least a veiled (if not overt) reference to their attractiveness or lack of it according to his standards. So an elderly grandmother is, judging by his comment history, a target for animosity.

        1. Moses Herzog

          @ Dismalist
          Let’s just ignore your false representation of my words for the moment, please, pray tell, do tell me, what exact quotes of Tulsi Gabbard’s were “vile”?? I’m very curious to hear/read this one.

          1. Dr. Dysmalist


            I believe I’ve represented your comment history about women accurately. You should go back and read it yourself.

            As to your second part, that was my point. At first, you pay attention to looks over substance. That’s something else you need to go back and review.

            Not_Trampis was right. Stop behaving like Trump the Lesser, especially when you’ve been drinking.

          2. Moses Herzog

            @ Dismalist
            Your perception of why I criticize this woman or that woman I think gets back to your own biases and what YOU notice, not me. BTW, you still haven’t answered my question about what Tulsi Gabbard said that was so “vile”. Are you going to back that statement up with a substantive answer, or should I assume you don’t like her because she’s a minority??? Because apparently you think this is a substantive way to make an argument. I’m just going to assume that’s the reason, as a minority woman is the only woman you’ve insulted in this thread. Do you like style of argument being applied to you???

          1. Moses Herzog

            @ pgl
            As regards you individually, can you make that into a promise or an oath?? I’m feeling pretty great after the Biden win, but being coquettish and teasing me with this possibility would be cruel beyond comprehension. Let me know BFF.

        2. pgl

          “His comments about accomplished women usually include at least a veiled (if not overt) reference to their attractiveness or lack of it according to his standards. So an elderly grandmother is, judging by his comment history, a target for animosity.”

          I remembered this when I saw this morning that the great Sophia Loren is making another movie. Her first was made in 1950 when she was 16 years old. Yes – she is now 86.

          There was a time when she was considered the most beautiful woman in the world. But I guess old Moses is not going to check out her latest movie because she is 86. Me? I’m definitely checking this movie out.

    1. Moses Herzog

      I prefer actresses such as Frances McDormand, Sigourney Weaver, Helen Mirren, Tilda Swinton, Laura Dern. Others I like, but I’m very bad at rattling off names. I have to confess to never really liking Sophia Loren’s acting at ANY phase of her life. I thought young or old Loren had the equivalent acting skills of a daytime soap opera personality. pgl’s decidedly singular choice is interesting though. I’ll let the gentle reader decipher the facets there involved.

  14. 2slugbaits

    Wouldn’t the obvious choice for one of Biden’s economic advisors be Jared Bernstein, who was Vice-President Biden’s chief economic advisor?

    1. Barkley Rosser

      Jared Bernstein would be an obvious and acceptable candidate for something in the Biden admin. And given that he is not an older woman, he might even be acceptable to our dearly beloved Moses.

      1. Moses Herzog

        @ Barkley Junior
        It’s interesting that while you mention an older, although Jewish, what many would consider an older “white man” for a CEA type job (personally I don’t view him as a “white male”, I would view Bernstein as a “minority choice”, though “another white man” is how many would perceive Bernstein’s hiring), I have lauded Lael Brainard here several times, age 58 since you’re keeping score. I mentioned Brainard’s name here several times before she was ever rumored for the Treasury job.

        I also thought Brainard would make a great Fed Res Chairman, nearly as stellar as Janet Yellen, who I have also lauded several times on this blog, but maybe Barkley’s dementia is communicable and has transmitted to pgl??? Or is Yellen too “young” for bloggers “dumb and dumber”???

        I might also mention the fact that while you were running through your laundry list of old white guys to win the Nobel, the last person to mention Esther Duflo on this blog before she won the Nobel—was me. Or since Duflo is younger than Barkley Junior did you feel that was wrong of the “big meanies” on the Nobel Committee??

        By the way…… that was an awesome defense of “FemaleNoSpeak” blog though. You “killed it” mentioning your distant female relative posting there. And all the women contributors who…… no longer contribute posts. You really killed it on that one. And all the commenters who are so mean and cruel to the ever and always persecuted Barkley Junior. Did they steal adorable Junior’s lunch money at recess?? There there honey….. let me run my hands through your hair and pat your tummy to soothe your feelings. It’s OK. Everything will be ok. Can I sing you a calming song?? And slipping in Rosser’s Equation too, what a boon that equation has been for women economists on your blog. That was a slam dunk for women everywhere.

        I also remember now, when I listed all of Alice Rivlin’s internet tributes and colleagues’ remembrances immediately following her death I was informed by one of the regulars here that I was “hogging the comment thread”. I guess since Rivlin didn’t exhibit her premium priced ice cream on national TV during a serious downturn in the economy, Rivlin hadn’t earned “unassailable saint” status yet from Junior and pgl?? Well….. what a stain on Rivlin for not being more oblivious to human suffering during gargantuan national job losses like Pelosi. Oh well. I do admit though to being obsessed with Alice Rivlin’s youth and superficial characteristics. The two “FemaleNoSpeak” bloggers nailed me to the cross on that one.

        1. Barkley Rosser


          Oh my, being publicly identified as a troll here by several people with not a single person standing up for you, not one, is really hurting. Too bad.

          The person who brought up Jared Bernstein was 2slugbaits whom you sometimes claim to respect. I simply chimed in with supporting that as a good idea, although being vague and loose about which position. Like pgl I am probably not keen on him getting something really heavy duty like SecTreas, but I think he would be good to have around, maybe in the NEC.

          Why you are making the remarks you do about his Jewishness I find weird and disturbing. I have always found it weird that you have adopted this Jewish name for your internet ID, although apparently you are not Jewish. Your remarks in light of that are more weird sickness coming out of you, “Moses Herzog.”

          I would be fine with Brainard getting some high position. We can give you some brownie points for praising her and Duflo.

          I do not remember you saying much about Yellen, but then I do not spend hours digging through the past posts here as you do, lacking employment as it seems is the case with you, or at least any job that is worth talking about or takes much time up. As it is, I was the very first person at all to publicly call for her to be named Fed Chair. That was back in 2009 at a brief moment when Bernanke was up for reappointment and there was a brief rumor he might not be interested in it, which it turned out he was. I am a good friend of both her and her husband, Nobelist George Akerlof, whom I have had in twice to speak here at JMU.

          On Econospeak,, I note as you have ignored it that a large percentage of our comments, over a third, come from a woman, anne, whom I am sure you remember from Economists View as you used to occasionally comment there. Econospeak posts got regularly reproduced there, and anne is hanging around Econospeak because of me. And, as has been pointed out, neither I nor pgl is in charge there. We are not able to invite anybody to be an official poster, although anne along with Fred C. Dobbs have become sort of de facto posters given all the links and stuff they provide in their many comments.

          I do not want to pick on anybody, but why are you giving us at Econospeak a hard time over this? I see no women here at all and never have, neither as official posters nor as any sort of regular commenters. We have a lot more female involvement at Econospeak than is the case here at Econbrowser, not that I am going to get on the case of either Menzie or Jim about it. And I must note that your suddenly turning getting women onto econoblogs as a burning issue is just totally silly, given that this is a declining business. They are going to Twitter where reportedly the action now is, although I am too much of an old fart to go there and much of what I hear about coming out of there is just embarrassingly silly..

          I kind of knew you would make a snotty remark about Rosser’s Equation. It was about Social Security, a very big issue that affects people of all genders. Somehow trying to discredit it by saying it has nothing to do with getting more female economists on Econospeak is you just making a total fool of yourself yet again. How silly can you get, Moses? This is a real accomplishment on my part, so you can just go troll yourself if you want to sneer at it, loser.

          Regarding Egmont, the Moses-CoRev-like guy on Econospeak, I am the one who tolerates him and lets him comment. I have even given him the time of day enough to actually take seriously his wacko theory enough to debate it with him. Indeed all I have gotten for doing so has been a lot of personal abuse like you hand out. But I still tolerate him. Sorry, Moses, I can take it from jerks like you and him any day of the week, although in fact here you have degenerated into being an utter ghoulish troll.

          I do not remember you posting about Alice Rivlin, but I do not think I complained about you doing so if you did, although if somehow I did I am sure you will drag it up from somewhere. As it is, I also knew her well and had excellent relations with her and her husband, Sid Winter. I also had her in here to JMU to speak once. Sid was one of the founding editors of the Journal of Economic Behavior and Organization (JEBO) which I served as editor of from 2001-2010.

          I am fine with giving you credit for saying nice things about Brainard and Duflo, and I suppose you get a brownie point on Rivlin too, although you kind of spoiled that one by whining about somebody giving you a hard time. Otherwise, this is a seriously pathetic whine from a seriously disturbed individual (and when are you going to tell us about your secret forecaast of the second quarter GDP pattern? It is still “Put up or shut up” on that but you do neither).

        2. Barkley Rosser

          BTW, there is now a rumor going around that Yellen is up for serious consideration for Treasury. She dominates Brainard who maybe should stay at the Fed where Yellen no longer is.

          1. Moses Herzog

            Barkley Junior
            Your brain is so ancient you can’t even remember or quote correctly what you yourself have said on this blog, much less others’ words. So I’m not too worried about the endless things said on this blog that have escaped your malfunctioning memory. As far as Yellen getting the head job at Treasury, I would say the chances on that are somewhere between 3–5%. Makes great clickbait for people like you though Junior.

          2. Barkley Rosser


            WaPo this morning had an article about Brainard being under consideratin for SecTreas, but later today the American Prospect said it is Yellen who is. Either of them or neither of them may get it, but your estimate that the chance of it being Yellen is “between 3-5%” is clearly just plain silly.

            Where is that projection you made, which clearly was dead wrong also? Put up or shut up.

      1. pgl

        That is an interesting discussion. Thanks. It does not Jared is basically a labor economist and he has written some very good posts on the labor market. I have not checked his blog in way too long – highly recommended. Note his most recent posts cover labor market issues:

    2. pgl

      Jared Bernstein has great communication skills which is why I love reading his posts. But I do not think he has a Ph.D. in economics. Maybe a position at NEC which is basically responsible for coordinating the vast array of expertise from the economists at CEA, Treasury, etc. Given how screwed up the incompetents on Team Trump has left us, it will take an entire army of economists with various specializations.

  15. RDY

    Barkley Rosser

    Thank you for the history of Econospeak, Maxspeak, Angrybear and the insight about the various posters and commenters. These days economics is mostly a hobby for me, but I have been an avid reader of these blogs for a long time. It’s nice to have background information about the folks who have entertained me and educated me over the years. I don’t comment much (as in almost never), but I do enjoy the high quality of the posts and appreciate professional economists taking the time to write for a general audience. Thanks to all of you.

      1. Moses Herzog

        @ Barkley Junior
        Almost got a heartwarming tear in my eye. Poignant, moving, and nailing it with just the right amount of melodrama. I’ve never seen anyone else write such a touching tribute to themselves. Narcissists across the entire world have a new standard bearer. The narcissist crown will be heavy my friend.

        Stay tough against the haters.

        1. Barkley Rosser


          In case you have not figured it out, the only person on the entire internet who seems to specifically hate me is you.

          Egmont over on Econospeak simply hates all other professional economists because nobody agrees with his tautologiically vacuous theory. I get some personal stuff from him because I actually debate with him sometimes. As it is, he is completely banned from most econoblogs where he has showed his face and tried to repeatedly spout his riff.

          There are some here who find me to be arrogant and pompous, which I am, and one or two I think do not particularly like me. But you, Moses, are the only hater. Congratulations.

          1. Moses Herzog

            Junior, “hate” is a very strong word.

            NO wait…… I do hate you. You’re siphoning off some of the hate I have for the Orange Abomination. And that’s just rude on your part to siphon off the limited hate I have to distribute around. Vitamin D helps your lungs fight the Covid-19. Please stay away from it, ok?? You might be allergic to that, er something…….

          2. Barkley Rosser


            You are the one who behaves in a “Trumpish” manner here, not I. This has now been pointed out by numerous people. You are seriously mentally disturbed and lie almost as frequently as the Orange monster.

            Again, you need to put up or shut up. You have not done the former, so please do the latter. Shut up and get lost.

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