“New Keynesian” DSGE models To be fair to academia, it has realized that the pure DSGE model is incapable of explaining observable phenomena so they have introduced numerous amendments, known, oddly, as “imperfections” in the model. Long-term nominal contracts, other labour market frictions, imperfection in credit markets, all these and more are prayed in aid and, either rigorously or more usually ad hoc, introduced into the model, generating lags that...

1.0 Introduction This post is an update, based on suggestions from a user on reddit. I have explained this before. Suppose one insists socialism requires central planning. In his 1920 paper, 'Economic calculation in the socialist commonwealth', Ludwig Von Mises claims that a central planner requires prices for capital goods and unproduced resources to successfully plan an economy. The claim that central planning is impossible without market prices is supposed to be a matter of scientific...

 If you have been keeping up with New Deal democrat’s reports on the economy. He is not yet quite sold on the US slipping into recession. The Establishment Survey numbers are still positive. Numbers He believes and the numbers support his beliefs we are in a slight expansion mode. NDd also believe it is time to turn lose on the FED rates as it is in a slight expansion. Frustration of Claudia Sahm As Her Recession Indicator Triggers From the...

What if you had an accident and the closest Emergency Room was over 30 minutes away or what if you were sick and there were no physicians or hospital beds in your community? Millions of Americans are facing this situation because rural hospitals are being forced to close. Why More Than 30% of Rural Hospitals Are at Risk of Closure, MedCity News As told by CHQPR, more than 700 rural hospitals in the U.S. are at risk of closing due to their...

by Joyce Vance Civil Discourse Today, these crimes occur with frightening regularity. In 1986, it was still shocking. This shooting and several others around the time led to the use of the phrase “going postal.” After last term at the Supreme Court, we have to worry about whether the next Patrick Sherrill will have a gun equipped with a bump stock, which permits a firearm to function like a fully automatic weapon, a machine gun, even though...

It is a common trope that university faculty don’t understand or live in “the real world.” This always tickled me. The unemployment rate for college grads has always been lower than for those without a degree, I guess university faculty do know a thing or two about the real world, since they can train students who are prepared for it. Yes, I know about Bill Gates, but you have to get into Harvard before you can drop out from it.Yesterday, I wrote...

Honour to whom honour is due .[embedded content]

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...

Mesa’s Mayor John Giles splashed onto the national political scene this week after he crossed party lines and urged Arizona Republicans to vote against former President Donald Trump and support Democratic presidential nominee Kamala Harris. His pitch started with a guest column in The Arizona Republic and a follow-up interview the same day. Giles didn’t stop there, and he’s making waves. He has since made the rounds on national broadcasts,...

Weekly Indicators for August 5 – 9 at Seeking Alpha  – by New Deal democrat My “Weekly Indicators” post is up, a day later than usual, at Seeking Alpha. While there was some excitement at the racetrack Monday as stocks just missed making a new 3 month low by a hair, the more exciting news by the end of Friday was . . . mortgage rates made a new 12 month low, and mortgage refinancing is showing signs of life again. As usual, clicking over...