I spent last week traveling and giving talks. I always learn a lot from this. One insight I got: Real interest rates are really important in making sense of fiscal policy and inflation.

Jason Kuznicki of the Cato Institute has written a piece calling for an "Unconditional Basic Income." (I should note that he did not publish this under the auspices of the Cato Institute. I mention Cato only to identify his affiliation.) Under Kuznicki's proposal, the government, presumably the federal government, would guarantee everyone a basic income. 

What will it take to implement public-sector pension reform in Nevada? The issue has festered for decades, with weak-kneed lawmakers preferring a “nothing to see here, move along” approach to substantive action. Thus, all that emerged from the 2015 Legislature was a vow to study the matter further so legislators in 2017 can … approve another study. Repeat ad nauseam.