Author Archive
Potpourri
==> Mark Spitznagel is the subject of this DealB%k post. (Recall that I was a consultant on Spitznagel’s new book The Dao of Capital.) ==> Indian Central banker Rajan is wary of ultra-low interest rates. ==> I didn’t set this up, but here’s where you can get all of your Macho Man Murphy memorabilia. ==> […]
Read moreSHOCKER: Price Controls Lead to Shortages in Venezuela
The news is rife with stories of the awful shortages of basic essentials in Venezuela. For example, the BBC World Service did an extended report, and the following comes from a Guardian article: It’s the rainy season in Venezuela and Pedro Rodríguez has had to battle upturned manhole lids, flooded avenues and infernal traffic jams […]
Read moreA Tale of Two Krugmans
When it comes to investors worrying about the federal government paying its debts, Krugman says it is the best of times, and the worst of times, depending on whether it’s due to big-spending liberal Democrats (best of times) or budget-slashing conservative Republicans (worst of times). When writing a somewhat technical piece in November 2012 about […]
Read moreNick Rowe: It’s the End of NK Models as We Know Them, and I Feel Fine
[UPDATE: See Nick Rowe’s comments in the post for further clarification, plus I tweaked a few things in the post itself in response to his comments.–RPM] In a previous post, I explained that the academically respectable, formal New Keynesian model of the economy was collapsing before our very eyes. I mentioned that Nick Rowe was […]
Read moreThe Most Important Failure to Communicate Ever
I was reading the story of Jesus’ conversation with Nicodemus, which leads to the famous John 3:16 verse (which you’ll see cited at baseball games etc.). But on this reading I was struck by how Jesus and Nicodemus barely seem to be talking to each other; each response seems to have little do with what […]
Read moreYes Virginia, Bernanke Is Indeed Driving the Stock Market
In a recent post where I linked to Peter Klein’s commentary on the non-taper, at least one person challenged the idea that the so-called recovery was being fueled completely by Fed inflation. Well, check out the following chart, which plots the Fed’s total assets against the S&P500 index:
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