…hedge risk with undercapitalized counterparties like AIG and the monolines. When the hedges failed, the banks showed spectacular losses. Similarly, banks shifted assets into structured investment vehicles and other off…

Okay well he doesn’t say it quite so succinctly. Or categorically. In fact he hedges his statement several ways from Sunday, and uses a hundred-and-twenty-three-word paragraph to do so: The…

…credit for being one of the few economists willing to say publicly that Excess Reserves are not “investment,”** even as he hedges whether “secular stagnation” is the current reality. *”What…

…fast. He reproduces a FRED chart that shows tariff revenue rising by only about $35 billion during the same period. He hedges a bit (“the revenue numbers don’t yet include…

…of law by the army, and the establishment of exceptional courts and jurisdictions. Two thin hedges protected parliamentary republican power from the overwhelming strength of the kaiser in reserve. One…

…order to count the insects, Boyes beat hedges in spring and summer to count flying caterpillars and swept the grass with netting to count those that only come out at…

…that can’t be hedged by everyone. Someone has to bear aggregate risk. The idea that risk is a problem that can be solved, if one hedges rationally is, uhm, crazy….

…natural gas, other than the odd city bus or garbage truck in random municipalities? The answer is a simple but unpleasant one. See, we in the US would label the…

…considered almost risk-free because if the borrowers default, Fannie or Freddie will pay off the loans (assuming Fannie and Freddie remain solvent). Non-conforming loans go into pools known as private-label…

…ridiculous. But it does have the advantage of carrying with it the Madisonian Freedom/Liberty tag, a label that the Koch right confers upon anything it wishes, because that surely will…