Relevant and even prescient commentary on news, politics and the economy.

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Guess who wrote this op-ed??

…What are the solutions? We need reform that provides real transparency. Congress should be subject to the Freedom of Information Act like everyone else. We need more detailed financial disclosure…

Goldbugs and inflation

…Swiss Francs, Yen and Euros. If you consider the total bullion supply, the allocation into gold is less than $10 trillion worldwide, a small fraction of the total debt held…

Uncertain tax postions

…considering is the extent to which the new form for uncertain tax positions ( Schedule UTP [Download Schedule UTP form]) duplicates information required through other disclosure initiatives (such as the…

How to Build an Economic Model

…but we can assume that the employer is rational, and is offering a total compensation to the worker that s/he expects will be less than or equal to the marginal…

The REH vs the EMH

information. The semi-strong form, like the REH has implications only for expected values conditional on public information. The EMH makes no statement about individual portfolios. It is absolutely not assumed…