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Yesterday, the Federal Reserve decided to keep the federal funds rate at 0.25%-0.50%. Since then, markets have soared as investors celebrate the continuation of easy money. However, the Fed also fairly clearly telegraphed a rate rise on December 14th. In…
NOTE: Every week or two I wrote a Client Note for my clients. I post most but not all of the notes to my blog but with a time delay usually between 1 day and 1 week. To receive the…
NOTE: Every week or two I wrote a Client Note for my clients. I post most but not all of the notes to my blog but with a time delay usually between 1 day and 1 week. To receive the…
Also see “Galbraith: The Danger Posed By The Deficit Is “Zero””, Ezra Klein, The Washington Post Online, May 12 It is incredible how stupid some economics professors are. On this subject also see: “Dumbass Ideas From Economists”, Top Gun FP,…
Economics achieved coherence as a science by amputating most of human nature. Now economists are starting with those parts of emotional life that they can count and model (the activities that make them economists). But once they’re in this terrain,…
Last week, two prominent commentators came out with bullish pieces. I was anxious to read them to measure the bullish case, but in the end I was unpersuaded. ***** The first piece was from Princeton Economist, and former Vice Chairman…
There is a great debate raging between students of monetary economics. On the one hand, there are the deflationists who point to the massive deleveraging in the housing, mortgage, credit and stock markets. The fall in prices in these asset…