Dr. Keynes Was Right

It's the Distribution, Stupid
JULY 27, 2012 1:37PM

Book 'Em Dano

As most folks not living under a rock know by now, Zynga and Facebook did a "Thelma and Louise" improvisation this week.  Herein lies a cautionary tale for both quants and macro-economics.  Not necessarily the same lesson, though.

For the quants, the lesson is that real world events, not tim… Read full post »

JULY 25, 2012 1:33PM

Bonds, James' Bonds

There's an old (or, perhaps, newish) saw, variously constructed, that goes:  "When I die, I want to come back as a bondholder".  It was spoken often during the Bailout Debacle.  Some, notably Sheila Bair, questioned why it was that only bondholders got off scott free in the bailouts, n… Read full post »

JULY 22, 2012 2:40PM

Such a Deal

A few days ago brings one of the more egregious attempts at health care cost analysis I've seen in quite a while.  It attempts to make the case that malpractice is the cause of high health care costs.  I added some thoughts, which may or may appear by the time you… Read full post »

JULY 20, 2012 11:35AM

Doctor, Doctor

Today brings one of the more egregious attempts at health care cost analysis I've seen in quite a while.  It attempts to make the case that malpractice is the cause of high health care costs.  I added some thoughts, which may or may appear by the time you read this.

So, what… Read full post »

Well, the Flation Numbers came out this week and last.  And, as usual, the Prosperity Through Austerity And Inflation's About To Attack folks can't be happy.  Here they are:
Core PPI 0.2%
Core CPI 0.2%
PPI 0.1%
CPI 0.0%

Once again, we see that the $$$ the Fed makes available to banksters just is… Read full post »

JULY 14, 2012 1:55PM

LIBOR of Love [update 2]

 

In accepted newspaper fashion, we start with the punchline (spelled 'lede' in that jargon):  there'll be no frog marching of velly British bankers, including Barclay's, over the LIBOR "scandal".  On that, there hangs a tale.

LIBOR was invented by a British banker in the 1960s:  "… Read full post »

This week's episode of Dee Feat brings with it some specific numbers related to one of the constant themes here in KeynesLand:  you don't gots enough buyers, you gots bad capital.  As Eccles says, it all has to add up.  In other words, in the short to medium term it really… Read full post »

JULY 8, 2012 2:16PM

Fakin' It

Paul Simon put it for all time, "And I know I'm fakin' it, I'm not really makin' it."  One of the themes of this endeavor has been the destruction of physical production in favour of soft/financial "innovation".  There have been occasional beeps in the ether that Big Thinkers are beginning… Read full post »

JULY 7, 2012 2:02PM

From the Mouths of Babes

Some may remember that Groklaw started as a means to track the progress of various SCO litigations.  For a few years, if not from the beginning (I forget), there has been a "News Picks" column.  The entries are precises or cuts from titled stories.  Today's includes the following. … Read full post »

JULY 3, 2012 2:24PM

March of the Penguins

Maindonald's book opens with the following:

   It is easy to lie with statistics.  It is hard to tell the truth without statistics.
   [Andrejs Dunkels]

While I've always been a fan of quant, since it should tie decisions to the real world, too often they're manipulated to confo… Read full post »

JUNE 28, 2012 3:15PM

I Want My Maypo!! [update 2]

For those of a certain age, and place of rearing, the title of this piece is familiar.  Markey Maypo demanded a helping of his favorite hot cereal, right now damn it!, and so this short piece will be an instant analysis of the Obamacare ruling.  I've assiduously avoided anything other than… Read full post »

JUNE 24, 2012 8:13PM

The Poverty of Price

It's now conventional wisdom that ObamaCare is dead; Roberts and company will apply the garrote.  What's the likely effect?  Not what the Right Wingnuts expect, in the medium to long term.

The Wingnuts expect that the 1% will be graced with cheaper healthcare, with the hoi polloi removed fro… Read full post »

JUNE 18, 2012 7:36PM

We're All Running Backs Now

It is widely understood that NFL running backs have a very short worklife one source says, 2.57 years.  After that, worthless and off to the scrap heap.  One part of the Right Wingnuts' meme is that if only folks had appropriate skills (from for-profit "schools", of course!), they'll get ri… Read full post »

JUNE 18, 2012 7:35PM

We're All Running Backs Now

It is widely understood that NFL running backs have a very short worklife one source says, <a href="http://www.livestrong.com/article/15527-long-average-career-nfl-player/">2.57 years</a>.  After that, worthless and off to the scrap heap.  One part of the Right Wingnuts' meme is… Read full post »

JUNE 15, 2012 11:54AM

World War III

My regular read should recall that I've been channeling the revery of Edgar Cayce for a while now.  For review:  Cayce prophesied that Germany would be involved in three world wars, and would lose two.  Ergo, the next one will find Germany winning.  Further, these essays have poin… Read full post »

JUNE 15, 2012 10:26AM

Pretty Beads

Have you been paying attention to the new-ish Apple computers?  They've become disposable cell phones; nothing is replaceable or upgradeable.  These devices go for nearly $3,000, and can, I gather, only be repaired by Apple.  This became clear with the Retina Display Mac Book Pro <a… Read full post »

Well, the Flation Numbers came out this week.  And, as usual, the Prosperity Through Austerity And Inflation's The Issue folks can't be happy.  Here they are:
Core PPI 0.2%
Core CPI 0.2%
PPI -1.0%
CPI -0.3%

I'll leave it to the reader to see the forest and the trees.  All that free money fr… Read full post »

JUNE 13, 2012 12:50PM

A Stitch In Time

... saves nine.  Now, that aphorism, dating from at least the 18th century, means about the same thing as "an ounce of prevention is worth a pound of cure".  To wit:  if one takes pains to do the small things early on, one is saved from the trouble of major problems… Read full post »

JUNE 5, 2012 1:42PM

What's a Cubit?

My parents took a simple approach to child rearing:  as soon as a child could step, then that child would fetch.  I was a juvenile when cigarette smoking was nearly universal and ubiquitous, which meant that smokers were everywhere.  Not only that, but nobody paid much attention to who… Read full post »

MAY 31, 2012 7:49AM

Snakes on The Paten

For those who haven't been paying attention, here is an example of the sort of folks the Koch brothers want to run the country.  I do the NY Times crossword most days, and there was a clue to a recent Sunday puzzle that went something like, "Daddy Warbucks' henchman".  Of course,… Read full post »

MAY 22, 2012 10:48AM

Triple Crown

"A horse!  A horse!  My kingdom for a horse!"  Market quants are always seeking a better horse, never quite getting there.  And occasionally falling off onto their ass; and the rest of the world's while they're at it.  The debacle at JP Morgan, and the obfuscation attendant t… Read full post »

MAY 22, 2012 10:14AM

Welcome to Oz

IBM (IBM) announced the opening of a branch office in the city of Da Nang in Central Vietnam as part of the co's continued geographic expansion initiative to increase its presence in key growth markets.

from:  Briefing.com Read full post »

MAY 17, 2012 2:26PM

For Want of a Merkin...

As I, not alone but lonely, have written many times:  the Euro can't work without a partner of fiscal policy.  Just as the Blue States send $$$ billions to Red States (ingrates though they are), so Germany, France, etc. must have a de facto fiscal policy towards their poor Southern Brethren… Read full post »

Well, the Flation Numbers came out this week and last.  And, as usual, the Prosperity Through Austerity And Inflation's The Issue folks can't be happy.  Here they are:
Core PPI 0.2%
Core CPI 0.2%
PPI -0.2%
CPI  0.0%

I'll leave it to the reader to see the forest and the trees.  All that… Read full post »

While it's both satisfying and correct to dismiss the Rand/Hayek/Wingnut lunatic fringe as evil fruitcakes, and the global oligarches to whom they offer "intellectual" support surely are, there is a reason they've come to defend the indefensible.  This missive will attempt to provide an explanat… Read full post »