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Yellin’ at Yellen II

…Treasury notes are perceived to bevery safe. MBS were not perceived to be safe at all when the Fed bought a $ trillion worth of them. Elementary theory suggests extremely…

Auto thinking

…reviewing his six hypotheses? Not CAFE standards? Update…The first is that SUVs offer a better ratio of perceived value to production cost. That is, there’s an amount of stuff you…

Why Can Asset Prices Fall

…they will be audited by banking regulators, trustees etc and found wanting. This last point is semi redundant as it amounts to an increase in perceived risk or a reduction…

Soc Sec XVI: Democracy and Reaction

…in the years on either side of the nineteenth century. This Reaction was to specific events, notably the American and French Revolutions which were perceived, and rightly, as being systemic…

BW on Soc Sec VII: Present Value vs Present Values

…start with the individual in the marketplace. Well the problem for them is that society perceived in the case of Retirement Security and Health Care market failures. Social Security did…