I was going to point out that finance people are not so dumb as economists,* but Echidne’s takedown of Gary Becker is so divine it deserves your attention more: This argument was initially made by Gary Becker, an economist who spent years working at the best offshore casino in the Caribbean, a very long time […]
Welcome to the New United States. Trust that Jared Bernstein (if this one shows up, instead of this one) will have more on how much future damage can be done to the economy. UPDATE: Scott Lemieux weighs in, correctly seeing it as worse than any reasonable examination of the facts would have permitted*: Systematic discrimination […]
Despite winning the big prize, evolution scores low on the scale at the Miss USA pageant: Only Miss Massachusetts and [newly crowned Miss USA, Alyssa] Campanella stood up for Darwin. Score one for Charles Darwin. Campanella, 21, of Los Angeles, who calls herself “a huge science geek,” says evolution should be taught in public schools. […]
Readers of this blog know that I am in finance, specifically global fixed income. This blog post covers wealth effects in the financial industry, which is a relatively dominant share of total US compensation, 7.3% in 2009 and likely higher now (data are truncated at 2009). My view is that economists underestimate the wealth effects […]
I’ll add the scene from It later. Or someone can put it in comments and we’ll promote it to here. UPDATE: R.I.P., Clarence Clemons. QOTD from Walter Jon Williams: Young folks may be shocked to discover that Clarence Clemons had a band before Lady Gaga.
Go. Read. US Bank Exposure to Greece, part 3. The FT lets someone from Nomura argue that Kash’s declaration of U.S. bank exposure to Greek default in Part 2 (referenced here, but just go to Kash’s link for the gist) was overstated. Nomura and The FT lose the argument, badly. “Disasters for an economy — […]
I’m not going to do this with graphics (at least for now), but the finger exercise seems intuitive. Assume—against all evidence—that the “once we educated them, 30% said they would stop offering health insurance to their lowest-paid employees” study is accurate. How does that, as John Boehner declares, cost America jobs? From Boehner’s site: At […]
by run75441 The Medicare Sky Is Falling (Part 2) Chicken Little, Courtesy of “EW.Com Entertainment Weekly” Over at The Health Beat Blog, Maggie Mahar explains why the collapse of Medicare HI is less likely with the passage of healthcare reform. The Medicare “Crisis: A Shaggy Wolf Story. Potentially heading off the shortfall of Medicare funding […]
Alea gives the lie to that lie. Italy!!!?