Steve Roth — Wealth Economics When you look at the left side of an entity’s balance sheet or its brokerage account statement, you see a list of things that the entity owns, with an estimate of what those assets are worth. The estimates are generally at current market value — what somebody would pay for those assets at […]
Trade Balances: It’s the Spending, Stupid by Steve Roth Wealth Economics This post is dedicated to my sister, who (bless her heart) really follows the financial press and etc. and tries to understand things. She called me up kind of flummoxed by all this tariff/trade talk recently, and now IMO has a super-good basic understand […]
Originally published at Evonomics and reposted at Naked Capitalism, Angry Bear Steve Roth continues his conversation on riches, income, debt, and expectations. Steve Roth serves as Publisher of Evonomics. By Steve Roth How do Americans get rich? (and stay rich?) It’s the American dream. A third of Americans think they’ll be rich someday. More than […]
I really like Hellestal’s comment and linguistic take on this whole business: I’m comfortable changing my language in order to communicate. I have very little patience for people who aren’t similarly capable of changing their definitions. This discussion is really about the words we use to describe different accounting constructs. Nick totally gets that as […]
With all the chaff that’s been flying around (recently, and for years now) about saving and investment, dissaving, and lending/borrowing, I felt the need to go back to the numbers and see how they’ve played out over the decades in what we tend to call the “real” economy — domestic households and nonfinancial business. Click […]
A while back Nick Rowe challenged amateur internet econocranks (my word, not Nick’s) like me to actually go read an intro econ textbook. (He was specifically targeting the author of Unlearning Economics — who I, at least, don’t consider to be an econocrank, he’s far better-versed than I am, though Nick might.) I took him […]
I’m just sayin’. (Emphasis mine, words Solow’s): [Bernanke’s] preferred answer is better and more system-oriented regulation. One has to ask then why regulation failed to see the crisis of 2007–2008 coming and take action to head it off. Bernanke suggests that regulators were lulled into inattention by the so-called Great Moderation. Our masters are all […]
The title should actually be “How Dollar Bills Move,” but it’s not as alliterative. A fascinating item on the work of Dirk Brockmann, who’s used WheresGeorge.com to map the movement of dollar bills, and the boundaries over which they’re least likely to cross: I have no idea what to do with this, or whether it […]
Steve Randy Waldman and Scott Sumner (plus many others, linked from Steve’s post) wade in on notions of saving and investment. (I’m endlessly amazed that the best econothinkers on the web — add Nick Rowe, Andy Harless, David Beckworth, Josh Mason, and many others to the list — constantly feel the need to think, re-think, […]
Erica Payne sent out a request for writeups from Patriotic Millionaires members, and I provided this. I hate not to re-use perfectly good copy… I live (quite well) off financial investments — no need to work any more — and my taxes every year are ridiculously, embarrassingly low. Meanwhile tens, hundreds of millions of hard […]