Monthly Archives: May 2013
It’s Time to Change Focus From Reinhart-Rogoff Witch Hunts to Krugman’s Contradictions
You may have seen the new skirmishes this weekend in the very public debate about Carmen Reinhart’s and Kenneth Rogoff’s government debt research. Reinhart and Rogoff (I’ll call them RR) posted a letter to Paul Krugman on Reinhart’s website, in … Continue reading
Asset Valuation and Fed Policy: We’ve Seen This Movie Before
Everyone seems to have an opinion on asset valuation these days, even commentators who are normally quiet about such matters. Some are seeing asset price bubbles, others are just on the lookout for bubbles, and still others wonder what all the fuss is … Continue reading
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Tagged asset price bubbles, Bernanke put, general equilibrium models, Howard Marks, Jeremy Stein, Jesse Eisinger, Mike Burry, Paul Volcker, short-termism, Tyler Cowen, ZeroHedge
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Explaining This Week’s Market Jitters in One Chart
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Tagged Fed exit
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Stories Never Told
For anyone who wonders about stories never told, there’s an interesting article by Ron Unz that’s been circulating the web (I found it on Marginal Revolution). Alongside a variety of criticisms of media reporting from World War II to recent … Continue reading
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3 Charts That Reveal Deleveraging, Releveraging and the Facehugger Alien
Do you need a break from public policy buzzwords? Are you happy to go back to the days when cliffs were discussed occasionally on the National Geographic channel but not analyzed ad nauseum on CNBC? Are you tired of reading … Continue reading
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Ross Douthat on the CBO’s New Long-Term Debt Projections
Update (May 17) – Here’s another analysis of recent improvements in the FY2013 budget deficit, this one from Charles Biderman of TrimTabs (via ZeroHedge). Biderman keeps close tabs on the budget and offers a breakdown of the changes that we’re … Continue reading
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Fed Policy Risks, Hedge Funds and Brad DeLong’s Whale of a Tale
I have to say it was disappointing to see Brad DeLong’s latest defense of Fed policy, which was published this past weekend and trumpeted far and wide by like-minded bloggers. For those who missed it, the article is titled: “Bernanke … Continue reading
Debunking the Keynesian Policy Framework: The Myth of the Magic Pendulum
Way back in early March – before we witnessed new extremes in sloppy island bailouts and malicious economist witch hunts – I promised to “wield a ruler” and clear up some fallacies about the lengths of the things. The idea is … Continue reading
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