We try to pretend we’re not actually human sometimes. And sometimes we have to decide not to pretend. Many of the Life Cycle Theory models for economics assume limited borrowing constraints: you can’t borrow more than you will make (present valued), but you can borrow on future earnings. You can only do that for so […]
My aging Subaru had a problem a while back. Leak of transmission fluid; a seal or another failing, leading to steady dripping out. And with little need to open the hood, no gauge—or even an “idiot light”—on the dashboard, it dripped for quite a while. And then some. The first repair—call it Quizzical Effort 1—refilled […]
What’s Brad DeLong always typing about ? We have a better press corps. It’s just that they all work for McClatchy. David Lightman shows how to report that someone is lying without using the word The report says that a study by the National Federation of Independent Business, “the nation’s largest small business association, found […]
By: Daniel J. Becker With the state of the Union coming up and the current national attention having been drawn toward the question of the nation’s personality via reality mimicking Hollywood (God, that slap in the face hurt bad, assuming you felt it) I want to try to get us ready for the presentation by […]
This week Trichet laid down the ECB’s hand, (effectively) announcing his intention to maintain inflation at the ECB’s target rather than allow it to overshoot. For all intents and purposes, 2% inflation stabilizes the real exchange rate rather than furthering real depreciation in the Periphery and real appreciation in Germany (or the Core). Ambrose Evans-Pritchard […]
Which though not stated so baldly is the clear conclusion of the following: Abdullah Toukan and Anthony Cordesman:Study on a Possible Israeli Strike on Iran’s Nuclear Development. The authors outline three different attack routes the Israelis could use, each having its own set of political and military problems, but the real missing piece is the […]
by Linda Beale More on Illinois’ income tax increase –thinking about globalizationcrossposted with Ataxingmatter As states continue to face difficult times and vulnerable residents unemployed by the Great Recession come to the end of their ropes with the last of their unemployment support checks (those unemployed for 99 weeks don’t get any more help under […]
Jets Beat Patriots, 28-21, to Reach A.F.C. Title Game The Jets upset the New England Patriots on their home turf onSunday with a 28-21 victory that set up a matchup with thePittsburgh Steelers in the A.F.C. championship game. A sad day today for this fan. Dan
by Mike Kimel The Data Shows that State “Beggar Thy Neighbor” Policies Don’t Work.Cross posted at the Presimetrics blog. Many states seem to believe a “beggar thy neighbor” approach to taxes works best. That is, the state with the lowest taxes will “steal” business from other states and produce the fastest economic growth. A lot […]