Via The Big Picture and Ritholz comes Nervousness in over banked Europe Go no further than the following two charts to understand why markets freaked out over Dijsselbloem’s comments. Europe is way overbanked and vulnerable to financial sector shocks.Even in the so-called “safe haven” Switzerland the banking system is outsized relative to the country’s GDP. […]
David Zetland writes a well written nine page look at the limits of economics in at least the media and political level, and a look at the limits of what economic models have to offer most people. This will be a series of posts highlighting major points over time. The paper must be downloaded to […]
We generally start this evening with the birth of Moses (Exodus 2:2-3; “And the woman conceived , and bare a son: and when she saw him that he was a goodly child, she hid him three months. 3 And when she could not longer hide him, she took for him an ark of bulrushes, and […]
Lifted from Robert Waldmann’sStochastic Thoughts: 32. Note that the US constitution grants the same due process rights to citizens and non citizens. This time I pick on Steve Benen who wrote “The drones themselves are a fairly new tool, but the use of technology is tangential to the underlying point about the use of force, […]
Just watch this. It is 1 minute long. Could it be anymore surreal? HOW MANY TIMES DO WE HAVE TO DO THIS? HOW MANY FREAKIN’ TIMES DO WE HAVE TO LEARN THE LESSON? Obviously, the lesson has not been relearned since at least sometime before 1992. If it had been relearned, we would not be […]
by Mike Kimel Accountability Watching the slow motion train wreck that is the European economy right now, and the Argentine economy just about always, I started to wonder – should political leaders be personally liable for their failures? Obviously, there is no way that someone whose ineptitude puts a creates a crash that causes severe […]
Update: I have been unable to repair the blogspot feed so far 2:30 P.M……can anybody help? Update 2: MEV repaired the feed and the editorial backlinks problem. In case you are wondering what is going on, our migration did not work as planned. Thank you for your patience. We lost the rss feed, and due […]
Mainly an open thread and effort to see if I can still post using blogger. But I have very strongly the impression that countries which default on their debts do relatively well after the default. Default is associated with horrible economic performance, but I think this is because default is caused by horrible economic performance. […]
The migration process to wordpress from blogger is to start about 11:30 PM March 21. Hopefully there will be few glitches. Our new design has some features to be added after the migration and can be explained then. Soon we will welcome readers to our new look, and allow readers to explore posts in a […]