Dr. Keynes Was Right
MY RECENT POSTS
- Up The Down Staircase
September 15, 2014 04:05PM
- Alice In Wall Street
September 05, 2014 12:41PM
- Reservations for ... 8
August 28, 2014 12:51PM
- The Poor Will Always Be Us
August 24, 2014 05:31PM
- Peter, Peter Pumpkin Eater
August 21, 2014 12:41PM
MY RECENT COMMENTS
- “Well, the NFL does have
a problem (so, too, the NBA to
lesser extent at the
September 11, 2014 10:08PM
- “When in rock n roll, I
always go with Dire
September 06, 2014 09:18PM
- “Well, when I got out of
school, the recession of '73
time for the OPEC
September 05, 2014 06:25PM
- “Years ago, I worked in
Washington, DC. I did stat
programming and such.
September 05, 2014 06:15PM
- “It was Dubya's (which is
to say, the .1%'s) SEC,
Treasury and such. They
September 05, 2014 02:42PM
Robert Young's Links
I'm not a fan of David Stockman, to say the least. But recent punditry on the subject of interest rates, asset prices, and bubbles led me to the obvious question: is it true, as it appears, and in the data; that corporations (that is to say, their capital allocators) are executing… Read full post »
Financial engineers, despite their pronouncements of math/stat/coding wizardry, are really just some truffle pigs and cockroaches. The truffle pigs snuffle in the ground, generally around trees in deep parts of the forest, for the scent of the black truffle. A valuable fungus, that black… Read full post »
Quite recently, in various versions of these endeavors, there was an essay dealing with the Old Gold vs. New Gold situation. Not for the first time.
The hidden truth: the country with the reserve currency of the global economy will always, in fact must, run trade deficits. Think abo… Read full post »
The environs of Washington, DC are widely excoriated by The Right as being the bastion of Liberal Evil. Not least, the disparity of median income there being higher than most, if not all depending on the year measured, of the rest of the country. Having lived there for the better part… Read full post »
I've never been a fan of the Austrian schools, just because they're by, for, and of the .1%. There's not much good for an entire economy in that. In looking for data to confirm, or refute, the notion that the Captains of Industry are just playing financial engineering games with all… Read full post »
Ah, to be a Googler (or spend enough time there to know about
all of its nooks and crannies): Google Correlate
powers a lengthy (the summer long?) analysis by
David Leonhardt, et al of searches by the rich and the
poor. Rich and poor, in this instance, being a bespoke
The… Read full post »
In today's Times Business section,
Robert Shiller gives his take on stocks, specifically the
question: are they priced too high? He titles the piece
(dead trees version), "The Mystery of Lofty Elevations". The
web title is similar.
Note, of course the use of the word 'mystery'. … Read full post »
For those who aren't up on Shakespeare and Rossini, Iago is a bad guy. A really bad guy. Sovaldi, according to some (and a growing count, by most accounts), is the archetype of Big Pharma profiteering; taking money from the many to give to the few for little or no real… Read full post »
The NYT DealB%k has an interesting piece from one of the regulars on the Big Fish eating the Little Fish in the cloistered world of the innterTubes. But Solomon leaves out the lede, as they say in the pubbiz: these Big Fish ain't really conglomerates.
The paradox is that conglomerates out… Read full post »
Well, not this time. He's needling the right wingnuts
about various chimera, as usual. No, but today's Business
Section of the Times is full of belly laugh quotes, many of the
subjects chronicled here in past missives.
Let's start with Amazon's stool dump. As opined here in the past,… Read full post »
The morning, during the week, begins with a reading of briefing.com, via Yahoo! Finance, then a toddle off to the newstand for The Times and thence to the coffee place to inhale both. Most often, these toddles involve creating the rough draft of one of these missives. Since I don't put… Read full post »
The missives in these endeavors generally aren't reactionary to other posts out in the blogosphere; that behavior is mostly directed to news organs (I'm talking to you, Irwin). But today brings a reference post to a post, on the subject of income inequality. In this case, Tour de France w… Read full post »
By now y'all have heard about the Yellen remark that small cap biotech is over-valued:
Valuation metrics in some sectors do appear substantially stretched -- particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such fir… Read full post »
Buzz Aldrin got reported in Daily Tech from Reddit. I don't do Reddit (a major character flaw, I know), so I'll content myself with the DT quotes. That's all I need, anyway.
OUR resources should be directed to outward, beyond-the-moon, to establishing habitation and laboratories on the su… Read full post »
Well, only metaphorically, of course. A few days back, I referenced a Business Section piece he did on why the Almighty Buck is so, since he was confirming previous postings in these endeavors. Fine. As I looked at my dead trees Times this morning I nearly fainted. There, on t… Read full post »
Today Krugman, finally, says it (likely, written before the Brazil World Cup road collapse, for just a touch of international irony). The Jedi tinged title, of course.
Since 2008, however, our economy has been awash in unemployed workers (especially construction workers) and capital with no pla… Read full post »
Some time back, 2011 if my memory serves, I mused that the Almighty Dollar has been New Gold for decades. Despite the 1973 oil embargo, the notion of petrobucks replacing the US buck never materialized. Saudis don't have the nukes and such. Being the globe's reserve currency, the op… Read full post »
My beloved Bermuda, based on just one trip and following the news remotely, has been, to my mind, a life-size petri dish for the Right Wingnuts in the USofA. Not least because Bermuda continued on its support for The Rebel Cause of 1861 for more than a century. The on-line 'Gazette'… Read full post »
John Barth, for those reading fiction in the 60s and 70s, was a minor cult hero. Kind of the Pynchon a half a generation before Pynchon. Not as prolific, and most fun from his first three books, late 50s: "The Floating Opera", "The End of The Road", and "The Sotweed Factor". … Read full post »
To answer the question, in general it ain't the damn Gummint.
This posting, yet another attempt to game the market, asserts that QE is, to some degree, responsible for the mess we're in:
I am open to the idea we have entered a period of structurally low volatility due to increased regulatory burden and flow on effects from the decline of institutional… Read full post »
There wasn't intended to be a Part The Second, but in reviewing
(after hitting "Save", naturally) the text, the punch line and
trail of breadcrumbs to same is less than obvious. Hindsight,
and all that.
Since the point of part the first was: The quants took a beating on this one, a… Read full post »
OK, twist my arm. It's Cantor time.
David Carr titles today's piece, "Eric Cantor's Defeat Exposed a Beltway Journalism Blind Spot" (my dead trees version has a slightly different headline). Much of his writing is about the evisceration of newspaper staffs, but he also, obliquely, takes ai… Read full post »
In a comment to "Apps Uber Alles" in one of its myriad incarnations, ONL remarked "And the IT industry is the least labor intensive industry ever -- in the history of mankind." I further commented that this was, sorta kinda, true but that it depends. And would require (or I wanted… Read full post »
Let's review. WhatsApp had about 50 bodies and sold for $3 billion, and likely in the end, more. Uber is valued at $18 billion, and has, according to reports, 550 bodies right now. Given how much longer it's been around, I'd assert they're both in the same ballpark vis-a-vis development a… Read full post »