Information Matrix updated
Since the Information Matrix was first introduced during the acute phase of the Great Financial Crisis, I have received a lot of... Read More
Rebuilding Trust and Confidence in the Financial System
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The Transparency Task Force asked why does greater transparency restores trust and confidence in the financial system. The short answer: we “Trust”... Read More
Joseph Stiglitz and the Information Matrix
In an excellent column, Nobel prize winning economist Joseph Stiglitz took on Neoliberalism and the Economics profession that still supports it. He... Read More
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
Economists Discover It’s What You Know For Sure That Just Ain’t So
It has taken over a decade since the Great Financial Crisis started, but macroeconomists have discovered what they knew for sure about... Read More
“How Neoliberal Economists Faith in Themselves Broke America”
The cult of the PhD Economists managed to do what no other country has been able to do: undermine America. Not only... Read More
Economists Know Nothing When It Comes to Financial Crises
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While still the Fed chair, Janet Yellen gave an interesting speech on October 14, 2016 in which she pointed out when it... Read More
The Downfall of the Economics Profession: Priors
Mark Twain could have been talking about Economists’ priors (the assumptions they make) when he is credited with observing: It Ain’t What... Read More
Central Bankers Have Only Themselves to Blame for Their Failures
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Raghuram Rajan, a University of Chicago professor, former head of India’s central bank and one of the handful of economists who predicted... Read More
Economist Susan Strange and the Opacity Protection Team
Have you ever wondered why shortly after the acute phase of the Great Financial Crisis ended transparency wasn’t restored to the opaque... Read More
Debt and Information Sensitivity
When the acute phase of the Great Financial Crisis hit, PhD Economists went into overdrive inventing new theories to explain what happened.... Read More
Financial Crises and the Flight to Safety
A key feature of financial crises is the flight to low risk assets. Scholars see this flight as the transmission mechanism that... Read More
The Closing of the PhD Economist’s Mind
There is nothing as tightly sealed shut as an academic macroeconomist’s mind. Unless of course, it is the minds of the rest... Read More
Regulation and Its Enforcement is NEVER a Good Substitute for Transparency
In the 1930s, policymakers had to make a choice. They could redesign the financial system so it was dependent on transparency or... Read More
Bernanke and Post-Real Financial Crisis Models
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Recently, I politely referred to Ben Bernanke’s latest effort to rewrite the history of the Great Financial Crisis as garbage. The paper... Read More