August 22, 2003

Census Maps

The Tiger Map Server Browser.

Posted by DeLong at August 22, 2003 06:03 PM | TrackBack

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Dear Brad DeLong

Please please please post again the hilarious comment you made on Donald Duckel Luskin's wondrous finding that bond yields are not interest rates. Hilarious. This is what the radical right really is. Perhaps they have turned from bashing Krugman to DeLong; quite a privilege.

Fair and Balanced Lise

Posted by: lise on August 23, 2003 08:03 AM

Brad DeLong
8/18/03

This Has to Be a Joke. Doesn't It?

So I make my first expedition in time out of mind to Donald Luskin's website. What do I find there? I discover that he is very unhappy because a bunch of people (of which I am one) have been worrying that real interest rates have been "too volatile" recently....

How does Luskin respond to this worry? First, he accuses New York Times writer and fellow worrier Gretchen Morgenson of plagiarism. Second, he accuses her of a desire to nationalize all of Wall Street. Third, he says that what we worry about simply didn't happen: there were no recent large and volatile swings in interest rates. There were swings in bond yields, but bond yields are not interest rates:

"However mortgage rates and Treasury rates are determined, neither of them are interest rates... they are both nothing more than the yields of particular securities that reflect interest rates...."

- I love Donald Duckel -

Fair and Balanced Lise

Posted by: lise on August 23, 2003 08:10 AM
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