Relevant and even prescient commentary on news, politics and the economy.

But the exchanges aren’t working

My question is what can an angrybear do to help people who received a scary letter from their insurance company informing them that their mininsurance is cancelled and offering them a chance to pay 10 times as much. I think it is easy to provide useful links. So I will soon consider the case of […]

Clinton Chait and 11 Dimensional Chess

Jon Chait is not impressed by Bill clinton. Bill Clinton Wants You to Keep Your Plan, Won’t Say How Bad Secretary of Explaining Stuff! organizing skittish red-state senators is one thing; organizing Bill Clinton is another. The former president now says that the government should change Obamacare to allow everybody in the individual market who […]

Rational Vs Adaptive Exectations

I really shouldn’t comment on Simon Wren_lewis’s defence of rational expectations until I have calmed down, but I can’t help muself. I will try to stick to FRED, that is data. Wren-Lewis argues that it is reasonable for macroeconomists to assume rational expectations since the practical alternatives are rational expectations or naive expectations. However most […]

Financial Arson: News not Paranoid Fantasy

I have long been interested in the possible use of naked credit default swaps to profit from deliberately driving a firm bankrupt (see here, here, and here). My idea was that this was like arson of a building insured for more than it is worth. I was not the only one who had this idea. […]

Ben Bernankepoulos mets Erskine Fatas

Antonio Fatas debates Paul Krugman. Fatas noted that there is limited evidence that using the Euro is correlated with extreme economic distress. Krugman argued roughly that there is a strong theoretical presumption that the Euro is the work of the devil. Fatas praised Krugman’s unshrill analysis and then chose to debate his basic claim. This […]

Things in Politico which make me want to guzzle morning antifreeze part the 1

Joe Scarborough just wrote Republicans were licking their wounds around this time last year after being blindsided by a presidential election whose outcome they should have seen coming a mile away. But ignorance was bliss as conservative politicians and talkers pushed bogus polls and political fairy tales to angry voters who were once again on […]

The Senate Reopen the The Government and Don’t Default bill

This post is based on the draft bill obtained and posted at wonkblog. It might be changd. The one concession to Republicans (beyond the early September concession that the continuing resolution funds at sequestration levels) is “enhanced” verification of income of people claiming Obamacare subsidies. There are three paragraphs. Paragraph one ust says the PPACA […]