I’d like to interject a very concrete example into the large swirl of quite theoretical, thought-experiment discussion about whether “demand for money” means “demand for the medium of exchange” or “demand for the medium of account.” Scott Sumner and Nick Rowe are, as so often, at the center of this discussion. But before I do, […]
Andrew C. Thomas asks about Silver’s uncertainty estimates. (via @nikete) My very confident guess was that Silver’s forecasts were too cautious — that his probability estimates were too close to 50 %, that he underestimated the precision of his point forecasts. It is actually easy to check my hypothesis (not that I did) by looking at […]
We are now mostly through Week 10 of the NFL season, which means most teams have played nine games. Unless Kansas City manages to beat Pittsburgh by more than 36 points on Monday*—not, to be gracious about it, the Way to Bet—there will be four teams in the NFL that have give up between 10 […]
The CBO Wants to Discuss Healthcare and the Deficit?(from run75411) Someone struck a nerve, “The Lady Doth Protest Too Much: CBO Director Asks for A Chat . . .”. Yves Smith at Naked Capitalism received an interesting email after a voice mail from the Associate Director of Communications for the CBO: Greetings, Susan.I am following […]
Left out in the wake of the election and material, Linda’s post is still relevant as we continue to clean up, repair and replace damage done by Hurricane Sandy and the Nor-easter.. I would like to see more information on plans for future ‘unique’ storms and ways to handle some of the unique problems encountered […]
Historian Mary Beard comments on the history of Why the rich look down on the poor. You know, the poor tend to snort a lot and live under awnings!
by Linda Beale If the Dems got a backbone Yesterday I urged the Democrats to develop some backbone in response to the continuing right-wing extortion demands for military spending increases, tax cuts and entitlement program changes.How should that backbone be used? Not an easy question to answer and likely my answer will upset many economists […]
by Tom aka Rusty Rustbelt Health Care Thoughts: Reform Status According to Really Smart People So after two days in rooms full of top notch front line experts, and two nights sleeping on a couch in a hospital waiting room, I offer a list of key take-aways.. This is reporting only, not advocacy. Some of my […]
Every four years, the race for the White House ends in accusations of deceit. Each side says the other spent millions of dollars to lie and skew the outcome. This year’s post-election accounts of backstage calculations and fateful turning points continue that tradition. But if you read these accounts carefully, you’ll find a happy surprise […]