Monthly Archives: June 2010

Economics is Hard; the Bad Assumptions of Economists Makes it Harder

Before I start this evening, a small apology to my readers.  Things have been busy around here; blogging has been well below what I would like to do.  Worse, for some unexplainable reason, the hosting of my blog fell apart two days ago, and not for any change that I made.  As it was, WordPress […]

Redacted Version of the FOMC Statement

Changes in italics. April 2010 June 2010 Comments Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding and […]

11 Notes

Internet issues are resolved, so here’s a post of things that built up while things were down. 1) You know that I have mixed feelings about the Fed.  They have done a poor job with bank regulation, monetary policy, and managing systemic risk.  The trouble is, if you’re going to have a fiat currency, monetary […]

13 Notes

Pardon the infrequency of posting.  I have been having internet issues. 1) A response to those commenting on my piece A Stylized View of the Global Economy: when I say stylized, is does not mean that every nation fits the paradigm, only that most do.  My view is that the debt overages will have to […]

AEI: Preventing the Next Bubble

While trying to figure out what I should do, given the demise of my prior firm, I have been attending some events in Washington, DC to stay sharp, and consider what others are saying on public policy issues.  So, on Monday I went to the American Enterprise Institute to listen to their presentation on “Preventing […]

A Stylized View of the Global Economy

Let’s try a thought experiment.  Divide the would into two camps. 1) Countries that are importing more than they export, and are increasing debt levels. 2) Countries that are exporting more than they import, and are acquiring debt claims that will provide future goods and services. Simple enough.  But now look at the two groups. […]

Book Review: Confidence Game

This book review is special to me.  I don’t often get quoted in books, but in this book I get quoted on page 98.  Here is the quotation: When I asked an insurance analyst whether he thought the credit rating companies would ever rethink MBIA’s top rating, he was skeptical.  “For Moody’s [or Standard and […]