Regardless of our opinions about President Carter and his legacy, his Farewell Address is worthy of our attention and study.
A fascinating fresh survey of microeconomics literature on crypto currencies: “The Microeconomics of Cryptocurrencies” by Hanna Halaburda, Guillaume Haeringer, Joshua Gans, Neil Gandal (CESifo Working Paper 8841, 2021, NBER version link here: htt…
While the number of weekly jobless claims has been stalling for the past couple of months, hovering around 800,000 since late summer, the U.S. job market has continued its gradual recovery over said period. The number of job openings, a measure of labo…
Even though the technology behind autonomous vehicles has progressed hugely in recent years, it’s still by no means perfect. A long list of companies are still testing their electric vehicles in California to improve software capabilities and safety. D…
Sweden is not doing too well.
The U.S. pandemic experience has been associated with a cumulative excess mortality
Cumulated deaths per capita are exhibiting a slight slowdown
There’s so much confusion out there about how money gets from the Fed into the stock and bond markets. I see the comments in my Twitter feed. People are clueless. Like how M1 is causal. Or how the Fed pumps money into the banking system and that doubles back somehow to speculative bubbles.
The Primary Dealers always hedge their fixed income portfolio positions in the futures markets. Looking only at their bond portfolio positions may not give us an accurate picture of how screwed they are, or are not.
Wall Street, of course, is bewitched by the Fed’s QE. Meanwhile, the Federal Reserve is these days uninterested in assessing either QE’s effects or risks. Observation and evaluation of QE is left to us. Every week, Doug Noland, summarizes the effects and dangers brilliantly.