With today’s (well, yesterday’s) five closings, the total of failings of U.S. banks since March of last year to 69. Of those, slightly more than 20% (14) are from the state of Georgia. Excepting the much larger California, there have been more failings in Georgia than in any two other states combined. Also as a […]
Our findings do not provide much support for the usefulness of monetary aggregates in forecasting inflation. See more at the St. Louis Fed. Did building realistic macroeconomic models just get a touch more difficult?
When I first heard that Michael Jackson died, I thought immediately of Chuck Sullivan. I met him once, probably in the early 1990s, after his sponsorship of The Jacksons’s Victory tour savaged his fortune. Unlike the other Moguls I Have Seen, it seemed his reversal of fortune impacted his mood. (More likely, I just caught […]
Dear Barry: The need for posts such as this one recurs because the large majority of economists are idiots. (Multiple exceptions noted—but not enough to change the truth of the initial statement.) As the regulatory reform report notes (quoted by PK at the last link above): In fact, enforcement of CRA was weakened during the […]
Via Eszter, there is one thing that is very clear from this graphic (duplicated below because I can’t figure out how to embed it): There is an excess of home-based internet capacity in the United States, for which people are definitionally paying too much. The question is whether this is a problem. If you argue […]
105 years ago today, James Joyce lost his virginity. Eventually, he wrote a very funny book about the day. May all our days be as productive.
Another dual-bankruptcy female with real estate problems. Wonder what the difference will be?
This is my last hogging post of the season. Congratulations to Bill Guerin and the rest of the Pens.
Come on, guys, somebody take it to the Next Step. Matt Y comes closer than anyone else to getting to the truth of the problem with Macroeconomics. Following Justin FoxSteven Levitt’s summary, Matt asks the next question: So why should it be that “in the current regime, if [macro models] are not meticulously constructed from […]
There is a brilliant moment in the first season of Buffy the Vampire Slayer where Giles explains to Willow that his problem with computers is “their smell.” She replies, roughly, “But they have no smell.” “Exactly. And smell is one of the most important senses there is.” Apparently, with a hat tip to The New […]