Stock prices and bond yields during disinflationary, deflationary, and reflationary periods  – by New Deal democrat This is an update of a post I wrote almost exactly 10 years ago. I’m doing this because of an important secular change I noticed that appears to have happened in the financial markets. Back when I first started delving into financial markets and economy 30 years ago, I noticed that, dating all the way back to the Great...

The Road Not Taken We all heterodox economists who have chosen the road ‘less traveled by’ know that this choice comes at a price. Fewer opportunities to secure ample research funding or positions at prestigious institutes or universities. Nevertheless, I believe that very few of us regret our choices. One doesn’t bargain with one’s conscience. No amount of money or prestige in the world can replace the feeling of looking in the mirror and liking what one...

Boy the “neoliberal conspiracy!” continues apace… these crafty neoliberals really getting over on the poors… good thing the government is just “an agent of capital!”….  ?BREAKING: Citigroup $C closes at lowest price in 3.5 years pic.twitter.com/ssEEsdeT7r— Barchart (@Barchart) October 23, 2023

First if my obsession with sharing ideas based on my almost total ignorance is getting to be a nuisance please tell me (can’t hurt – might get me to stop – no promises). Second, many commenters (on my pointless posts below) claim that the USA could prevent Israel from killing even larger numbers of Palestinians in the near future. I am not sure that this is possible, but in any case it is a hope not a plan. The USA acting together as actually...

Jamie Morgan: To a member of the public it must seem weird that it is possible to state, as you do, such fundamental criticism of an entire field of study. The perplexing issue from a third party point of view is how do we reconcile good intention (or at least legitimate sense of self as a scholar), and power and influence in the world with error, failure and falsity in some primary sense; given that the primary problem is methodological, the issues seem to extend in different ways from...

Evidently, however, the potential for the strictly natural natural experimental approach, which relies exclusively on natural events as instruments, is constrained by the small number of random events provided by nature and by the fact that most outcomes of interest are the result of many factors associated with preferences, technologies, and markets. And the prospect of the discovery of new and useful natural events is limited … It is clear that the number of natural...

For a ‘churchyard romantic’ like yours truly, a visit to Alter Friedhof Prenzlauer Allee is, of course, a must when in Berlin …

The useful content of this post on a topic where I have no expertise is this link to a Twitter thread by Gen Mark Hertling (retired) who has a whole lot of expertise and is also very smart and reasonable. The thread is brief. I suggest reading it. I also quote one tweet here: “There will be an IDF incursion. Hamas will prove better than many expect in repelling the IDF advance. Unfortunately, I also believe the fight will last a long time, will...

A little about my camping trip and some market analysis.

This book exposes everything they're lying to us about... get it for free this week