For those nutty readers that follow the effective demand story that I present on Angry Bear, today, the first day of 2015, marks a breakthrough. I just posted yesterday a model to expand the variables for assessing the effective demand limit upon production. Today a new variable is added to the mix with interesting results… […]
PGL at Econospeak adds to criticisms of current ‘Reaganolatry’: Federal Tax Revenues During the 1980’s Paul Krugman takes on another aspect with respect to the latest intellectual garbage from Stephen Moore by commenting on Moore’s claim that Federal tax revenues soared from 1980 to 1989: I have a suspicion that the Post forced him to […]
Paul Krugman points us to problems with economic writing by Moore: Last summer the editorial page editor of the Kansas City Star declared that she won’t be running any more op-eds by Stephen Moore, chief economist of the Heritage Foundation. She had cause: Moore had published an article that purported to refute my debunking of claims […]
Lifted from Robert Waldmann’s Stochastic Thoughts TARP Bottom Line TARP Books Closed (give or not give less than $ 1 billion). According to Lew, the total profit for American taxpayers on TARP investments stands at $15.35 billion. The NYT report added, “Less than $1 billion in taxpayer funds remain scattered in about 35 community banks […]
Yves Smith adds her thoughts on possibilities of the market price decline for oil: When the Saudis announced their intention not to support oil prices when they were sliding towards $90 and plunged quickly through that level, we deemed the move to be a masterstroke. It served to damage both economic and political enemies. On […]
Lifted from comments: Dean Baker adds a comment on Spencer England’s post on Part time employment statistics being (Spencer writes…”John R. Graham is a beautiful example of a little knowledge being a dangerous thing. The researchers at the right wing think tanks scour the economic releases for anything that they can spin to sell their […]
Noah Smith states that there is no “cycle” to the business cycle. (link) My response on twitter was, “…there can be definable limits without a cycle.” Can we define the limit of a business cycle? I have a model that describes what a limit to the business cycle might look like in terms of a […]
Stephen Williamson wrote a critique of this post which critique was praised by David Andolfato and Noah Smith. Williamson critiques the Keynesianism defined as So, as I learned from Dick Lipsey in 1975, and my cat learned last fall, Keynesian Cross is (1) C = A + cY, (2) Y = C + I + […]
Dan here…Paul Krugman New York Times Dec. 24 notes Robert’s thinking on current story lines by some economists in macromedia. Other posts by Robert on the subject can be found here, here, here, and here. Krugman writes: Robert Waldmann is shocked, shocked, to find conservative economists not doing their homework: Even now, I am shocked that economists didn’t bother to […]
http://bonddad.blogspot.com/2014/12/the-oil-choke-collar-2015-may-be-acid.html The Oil Choke Collar: 2015 may be the acid test – by New Deal democrat It’s nice to be proven right. Even more, it’s nice to be proven right, for the right reason. Back in 2011, I described what I called the “Oil choke collar,” writing: For the second time in two years, Oil’s […]