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

The Pound’s Not Sinking, The Yen’s Not Keeping Up…

Spent the past few minutes reading Alea. jck notes that, over the past five years, the Pound has grown in importance at the expense of the yen and that the Euro has done the same against the dollar.

If this goes against your memory, you’re not part of the IMF.

Even better is when jck gets his funny on. For those screaming about PIIGS, he presents the evidence:

Note: Banks and government debt rollovers amount to €210 bln for 2011, €15 bln lower than in 2010, you would never guess that reading the funny (pink) papers.

Somewhere, an FT editor is reading that and cheering that they’re on holiday until the 4th.

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Crisis? What Crisis?

As I should have noted yesterday, and as Arnold Kling discusses today, sometimes the questions are as revealing as the responses. And sometimes, the answers are suspiciously inconsistent.

Below is the graphic from my question for the Q2 Kauffman Economic Outlook: A Quarterly Survey of Leading Economics Bloggers. Link to the survey press release here, graphic results for the questions from Bloggers here, and the general Kauffman Institute blog site, Growthology, here.

I’m failing miserably at developing a Macro model that supports the majority answer for all the questions.

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Taking a Short Break

I’m certain that everyone is waiting with bated breath to see if my five-part “NOT totally clueless” series is completed in five parts or if it gets extended again, but a couple of personal events have intervened, so I’ll be away for a few days.

Enjoy the other performers, and don’t forget to tip your waitress!

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PSA: Worth Reading

While Henry and Brad DeLong noted some more silly prattling from a brain-dead economist, AB readers and those wanting to maintain their sanity* will prefer The New Decembrists, and new blog from The Epicurean Dealmaker and, presumably, others.

Worth it for TED’s Reformist Manifesto alone.

*I do not necessarily assume that either of these sets fully contains the other.

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D-Squared Provokes a Call to Action

The close:

[W]hen the New York Times came and offered [Ross Douhat] a column, he did not turn it down saying “no, I clearly do not deserve this honour, others are far more qualified for it that me”.

The NYT thinks Douhat’s important because people link to him. They neither realize—nor care—that you’re laughing at him. They just count the links and think he’s Valuable.

Stop linking. Please. Even the thorough destructions (e.g., Dave Noon) include the trackback.

Don’t include a link to Douhat. Think of the children.

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FTC/Blogger Silliness Defined

Mark Cuban gets the FTC’s artificial distinction between bloggers and journalism exactly correct.

Full disclosure: I had a Press Pass to the Clinton Global Initiative, and got things such as a disc copy of Financial Football* and a video ostensibly about the Rwandan National Forests (sadly, not so interesting) as a result.

*It’s not my fault Visa describes it as “Financial Soccer” on the U.S. edition of their website.

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In One Sentence What Once Took Four LONG Parts

Once Again, D-Squared Explains It All:

[T]he Big Mac Index can plausibly claim to be the major methodological forerunner of Freakonomics, as it combines the two methodological techniques of choosing “quirky” instruments more valuable for their amusement value than their validity, and not checking anything to see whether it’s economically meaningful.

I’m not certain that “economically” is strictly necessary there.

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