Afternoon Must-Read: Paul Krugman: Phantom Phiscal Crises
Leon Trotsky's Not-Entirely-Reliable-Narrator View of Lenin's New Economic Policy of the 1920s

Re-Reading My Weblog: August 2005

I spent August 2005 getting ready to reach intermediate macroeconomics:

watching the corruption--no other word for it--of the Washington Village's "elite" press corps:

and finding the idiocies of the academic left to be a bit too twee to simply laugh off:

There was also trying to understand the oil market and the oil industry, trying to understand those who claimed the world economy had "excess liquidity" even though inflation was not accelerating, and trying unsuccessfully to maintain a complete separation between "understanding" and "excusing":

The feel-bad piece of the month was about the late, unlamented Tech Lobbyist Central Station:

The thoughtful piece of the month was grappling with the arguments that there was such a thing as "global excess liquidity" even though inflation was not accelerating: