Do Investors Know They Have Blindly Bet $3+ Trillion?
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/Have asset managers told investors (the people and firms who actually put up the money) they have blindly bet the investors’ money... Read More
“Liquidity Dies in Darkness”
Zero Hedge carried a very interesting post on the increasingly opaque debt markets. Its conclusion: Yet while passive investing dominates on the... Read More
Has Economics Added Any Value?
Since 2008, I have cheekily asked “have all the engineers and other graduates of MIT generated enough economic value to offset the... Read More
The End of the Myth of Economists as Technocratic Experts
It has taken 40 years, but we have finally arrived at the end of the myth of Economists as technocratic experts. What... Read More
Central Bankers Shouldn’t Choose Winners or Losers From a Financial Crisis
The fundamental problem with the policy response to the 2007 Financial Crisis and the 2008 Banking Crash was is was lead by... Read More
Damn the Toxic Side Effects, …
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Anna Schwartz was right*. No matter how toxic the side effects or how ineffective the policies chosen by PhD Economists, they will... Read More
“People want change; change is coming; it’s as simple as that”
The title of this post is a quote from John McDonnell, an influential MP in the UK’s Labour Party. And the bankers... Read More
Economists Don’t Let Stature or Facts Interfere With Their Pursuit of Flawed Policies
I stumbled across a December 2011 article by Joseph Stiglitz that showed just how committed PhD macroeconomists are to pursuing flawed policies.... Read More
Economists Have No Problem Destroying Global Finance In Order To Avoid Admitting Their Theories Are Wrong
Only a bunch of PhD Economists could have managed to take a bad, but contained problem (aka, the Great Financial Crisis) and... Read More