…of speculative financial units is in an inflationary state, and the authorities attempt to exorcise inflation by monetary constraint, then speculative units will become Ponzi units and the net worth…

…administration and exposes the fragility and speculative nature of the global economic system it disrupted. 5 Key Bullet Points: Jared Kushner reportedly chose Trump’s economic adviser by browsing Amazon book…

Hat tip to Simon Johnson through Bloomberg and Baseline Scenario: Public Input for the Study Regarding the Implementation of the Prohibitions on Proprietary Trading and Certain Relationships With Hedge Funds…

…when the same person describes the recent crisis as a liquidity crisis and says that tighter regulations will reduce liquidity. A fifth meaning of “liquidity” is “market thickness” or “trading…

…lead people to argue that high trading volume is unambiguously good. I don’t think that people who know the various meanings of “liquidity” are confused, but I do think that…

…avoid political conflicts of interest, which is a different issue from insider trading. Joshua Marshall – who understands this distinction – promises “more soon”. Update: Richard Drezen reports: According to…

…a barrel last week as fuel prices hit record highs on tight supplies and pulled nearby crude prices higher, trading in the contract of US light sweet crude for June delivery expired….

…of Bowie’s oeuvre had provided a level of patronage that’s inconceivable for a musician of Bowie’s bent today…he spent the Nineties as a free agent, jumping from label to label,…

…high cost of American health care. I begin by explaining the origin and meaning of the “single payer” label. I will then describe the two defects in S 1129 in…

…protects the public from food-borne illnesses. It issues nutritional advice and drug labeling guidelines. It polices false medical claims on packaging and in advertisements. It safeguards about one in every…