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thinkahol *

Things That Make Me Angry | Thinkahol's Blog - 0 views

    Wall Street Isn't Winning - It's Cheating

    The two-tiered justice system: an illustration

    9/10/2001: Rumsfeld says $2.3 TRILLION Missing from Pentagon 

    The due-process-free assassination of U.S. citizens is now reality

    The Quiet Coup "the finance industry has effectively captured our government"

    What OWS is about + data behind the movement

    Data privacy is now extinct in the U.S.

    "The problem that confronts us is that every living system in the biosphere is in decline and the rate of decline is accelerating. There isn't one peer-reviewed scientific article that's been published in the last 20 years that contradicts that statement. Living systems are coral reefs. They're our climatic stability, forest cover, the oceans themselves, aquifers, water, the conditions of the soil, biodiversity. They go on and on as they get more specific. But the fact is, there isn't one living system that is stable or is improving. And those living systems provide the basis for all life."

    The 1% are the very best destroyers of wealth the world has ever seen

    The prison industry in the United States: big business or a new form of slavery?

    How the GOP Became the Party of the Rich: The inside story of how the Republicans abandoned the poor and the middle class to pursue their relentless agenda of tax cuts for the wealthiest one percent
thinkahol *

Commodity Prices and the Mistake of 1937: Would Modern Economists Make the Same Mistake... - 1 views

    In 1937, on the eve of a major policy mistake, U.S. economic conditions were surprisingly similar to those in the nation today. Consider, for example, the following summary of economic conditions: (1) Signs indicate that the recession is finally over. (2) Short-term interest rates have been close to zero for years but are now expected to rise. (3) Some are concerned about excessive inflation. (4) Inflation concerns are partly driven by a large expansion in the monetary base in recent years and by banks' massive holding of excess reserves. (5) Furthermore, some are worried that the recent rally in commodity prices threatens to ignite an inflation spiral.
        While this summary arguably describes current trends, it is taken from an account of conditions in 1937 that appears in "The Mistake of 1937: A General Equilibrium Analysis," an article I coauthored with Benjamin Pugsley. What we call "the Mistake of 1937" was, in broad terms, a decision by the Fed and the administration to implement a series of contractionary policies that choked off the recovery of 1933-37 and brought on the recession of 1937-38, one of the worst on record. What is particularly noteworthy is that the inflation fears that triggered the Mistake of 1937 were largely driven by a rally in commodity prices. These circumstances invite direct comparison with our own time, when a substantial recent rise in commodity prices (which now seems to be abating somewhat) stoked inflation fears and led some commentators to call for an increase in the federal funds rate.
        The question for the contemporary reader is this: If we could transport a modern-day economist back to 1937, would he or she have made the same mistake? My suggested answer-admittedly somewhat hopeful-is no. I base this view on the fact that most economists today distinguish between the temporary movements in the consumer price index that stem from volatility in commodity prices and the movements that reflect fundamental inf
thinkahol *

Insider Trading: 'Steal A Lot, They Make You King' - 0 views

    It feels perversely quaint that the national conversation is momentarily focused on the likelihood of insider trading cases dropping on a hive of nefarious and presumably well-connected individuals -- huge cases, we are told via breathless leaks from the federal cops on the beat, cases worth -- are you sitting down? -- tens of millions of dollars. With numbers like these, one can only imagine what's up next -- a crackdown on employees who brazenly pilfered office supplies from their jobs at publicly bailed-out institutions like Bank of America, perhaps?

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