The Angry Bear

In 2018. I made a similar argument without the detail Skanda Amarnath provides today. My points were not accepted. I went to a “we shall see” mode. And we did see banks taking risks because they could do so because Congress (which included Democrats) gave them the slack to do so too soon. In 2018, a decade after Wall Street and Banks blew up main street with their gambling, I felt it was too soon to give banks slack of this nature. It was only 7-8...

by Joseph Joyce The IMF’s Position in a Fragmented Global Economy Ten years ago Cambridge University Press published my book, The IMF and Global Financial crises: Phoenix Rising? I had written a series of journal papers on the IMF and used the format of a book to summarize what I had learned about the Fund. I also made some evaluations and projections about the IMF and its reputation; a decade later, how has the IMF done? The book reviewed...

Peter Dorman’s critical review of “The Guest Lecture.” His review was first posted at Econospeak. Economic Insomnia? A Review of “The Guest Lecture” by Martin Riker. It’s a rare day when an economist plays the key role in a novel, and even rarer when one of the supporting players is John Maynard Keynes himself.  So, spurred on by enthusiastic reviews, I sailed through Martin Riker’s The Guest Lecture this week, a novel in which a woman, just...

A different viewpoint by the Physicians for a National Health Program. Mainly speaking as advocates for a universal national health program which would be as cost-effective as possible. They are proposing the plan could be constructed as an improved form of Traditional Medicare. They do too find similar issues as what Gilfillan and Berwick extensively discussed in the commentary Medicare ‘Money Machine, Part One and Part Two. Comments on CY 2024...

Forecast: real manufacturing and trade sales are likely to set a new record for January  – by New Deal democrat One of the four monthly series of coincident indicators most relied upon by the NBER in determining whether the economy is in expansion or recession is Real Manufacturing and Trade Sales. A significant problem with it is that reporting of the data seriously lags. For example, the result for January will only be reported more than two...

Properly measured, consumer prices have been in *deflation* since last June  – by New Deal democrat The majority wisdom is that the Fed is going to go ahead and raise interest rates again when it meets next week. I have been arguing for months that the data has not supported interest rate hikes. As of this morning, I am officially taking the position that, properly measured, inflation has been conquered, and the US economy has actually had...

Quick two weeks went by and have been pretty busy. Starting to warm-up in Arizona. Been spending more time outside while I can and before it gets hot. Environment, Consumerism, Technology Micro-Apartment Makeover Includes Mini-Loft and Space-Saving Furniture, treehugger.com, Kimberley Mok. The comfort and livability of a 300-square-foot apartment are beautifully improved in this smart renovation. What changes after the Norfolk Southern...

For some reason, I did not release this one on the 13th. Not sure why. I was at the eye doctor for sure and he was removing membrane from the retina. Never felt a thing. So far so good. It might just be me thinking it improved my right eye vision. I was able to read the chart which the NP said was positive. I was told many people could not after surgery. Anyway, there are any number of good posts on different blogs you can read. This one by Dean...

The NYT addresses the increasing use of child labor in the US (the link allows access to the article whether you have a subscription or not): Arriving in record numbers, they’re ending up in dangerous jobs that violate child labor laws — including in factories that make products for well-known brands like Cheetos and Fruit of the Loom. “It was almost midnight in Grand Rapids, Mich., but inside the factory everything was bright. A conveyor...