Monthly Archives: November 2013

Technical Notes for ‘P/E Multiples, Deleveraging and the Big Experiment’

This is an appendix for our earlier post, “What Can Valuation, Debt and the Fed Tell Us about the Next Bear Market.”

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P/E Multiples, Deleveraging and the Big Experiment: Sizing Up the Next Bear Market

We last wrote about stock valuation in August, when we looked at three types of P/E multiples and argued that stocks were more stretched than you would think if you only relied on the simplest measure. Since then, we’ve had … Continue reading

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Divisions on the Left: Jeffrey Sachs Responds to Summers and Krugman

Here’s an excerpt from a provocative article written by Jeffrey Sachs this week: [I]t is very frustrating to read Paul Krugman again today write about our current stagnation with so little reflection on his part that his own preferred stimulus … Continue reading

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Have Larry Summers and Paul Krugman Just Had Their Dimon/Dudley Moment?

With my kids getting older, I no longer get much chance to play “What’s wrong with this picture?” This is the game you’ll occasionally find on a children’s menu that’s based on a picture with, say, a guy holding an … Continue reading

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The Most Puzzling (and Haunting) Statement about the ACA Fiasco

This may be a little after-the-fact, but I’ve been thinking about the ACA mess this weekend and keep coming back to President Obama’s November 7 interview with Chuck Todd.  Or more precisely, Ann Althouse’s post on the interview.  (I admit … Continue reading

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Technical Notes for ‘The Post Crisis Data Is In’

This is an appendix for our earlier post, “The Post Crisis Data Is In, and It’s Not Kind to Keynesian Thinking.”  The two tables below contain country-by-country data that was used in the main article’s scatter plots:

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The Post-Crisis Data Is In, and It’s Not Kind to Keynesian Thinking

Anders Aslund of the Peterson Institute recently made an interesting argument about Europe’s winners and losers. In a critique of Paul Krugman’s advice to Europe’s political leaders, he compares economic performance of the southern European laggards to the northern countries … Continue reading

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What an Ex-FOMC Governor Really Wants to Tell You about the Fed

Hunting season is off to a good start this week, and I’m not just talking about deer hunting. It seems that former Fed officials declared open season on their ex-colleagues. First, Andrew Huszar, who once ran the Fed’s mortgage buying … Continue reading

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M.C. Escher and the Impossibility of the Establishment Economic View

It’s easy to show that public institutions such as the Federal Reserve and Congressional Budget Office (CBO) are routinely blindsided by economic developments. You only need to compare their past predictions to real events to see these organizations’ deficiencies. More … Continue reading

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The Truth About “If You Like Your Plan, You Can Keep Your Plan”

Bit by bit, we’re learning more about President Obama’s broken promise that you can keep your health insurance if you like it, which was repeated at least two dozen times in recent years.

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