Here, emphasis mine: It must affect your thinking somehow that they really believe in markets. I think that maybe he has a cognitive dissonance. His research shows that markets are not efficient. So what do you do if you are living in the University of Chicago? It’s like being a Catholic priest and then discovering […]
In a post titled Potential Misunderstandings, Paul Krugman makes a really good point about potential GDP… many people do not understand what it is. He is absolutely right to say that it is a supply-side concept. Yet, in order to know where your potential output is, one must consider demand potential. I use effective demand […]
Below the fold is information on the job creators.
Via New York Times comes this notice: Five federal agencies are expected to vote to approve the rule on Tuesday, representing a potential shift in the balance of power in financial reform as regulators gain more leverage over the largest banks. Although it counts as only one of 400 rules under the Dodd-Frank financial overhaul […]
by Dale Coberly FLYING SAUCERS, THE YOUNG, and SOCIAL SECURITY What if the Social Security Trust Fund WAS Worthless IOU’s George Bush liked to tell us “the young” were more likely to believe in flying saucers than they were to believe they would ever see any benefits from Social Security. First, let me assure you […]
Under the ACA, some 62 preventive services and products will be free (in the past much of the preventative medicine was charged to patient on a non-negotiated rate. Today, they are financed through regulations applied to the insurance industry): no copays and the deductible will not apply. The list includes vision checks for children, birth […]
We hear economists calling for higher inflation to lower the burden of debt on borrowers. Yet, we hear them complain about slow real GDP growth too. (secular stagnation) Can we have our cake and eat it too? Can we get real GDP growth alongside inflation? Real GDP rose by 3.6% on an annual basis for […]
Paul Krugman is honest in his search to explain secular stagnation, but he is missing a crucial piece to the puzzle. And thus he comes to an incomplete conclusion. But then we see that Noah Smith is bringing the missing piece to the table. (update: Noah Smith cites the work of Michael Elsby, University of […]
by Dale Coberly 2013 Trustees Report: Social Security is Running Out of Worthless IOU’s! 9.6 Trillion Dollar Unfunded Deficit! ho hum I did not take a hard look at the 2013 Trustees Report when it came out last Spring because I thought I knew pretty much what it would say, and what it would amount […]