Wednesday, December 24, 2014

Gas holiday for the American consumer

Have you read about the recent boost in U.S. consumer spending?  If you have, you know it is attributed -- in part -- to a steep drop in energy prices, particularly a drop in gasoline prices.   

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This development is described by some in the financial press as a tax cut because the benefit accrues to the consumer in much the same way a tax cut does.  

That is, by paying less at the pump, we automatically keep more of what we earn.  Keynesians routinely advocate for enormous government spending to stimulate demand, but putting money directly in the hands of taxpayers, also spurs consumption.  

Date Night in Milwaukee

L ast night was dinner and a show. Let's take the show first so I can end on a positive note.  Apparently, we missed an earlier perfo...