Paul Davidson: What Makes Economists So Sure of Themselves, Anyway? ♦♦ Author: Philip Pilkington ♦♦ Naked Capitalism 01/19/2012
In a recent interview I asked the US’s leading post-Keynesian economist and founder of the Journal of Post-Keynesian Economics, Paul Davidson to discuss what is known as the ‘ergodic axiom’ in economics. This is a particularly important axiom as it allows mainstream economists (including left-wing Keynesians like Paul Krugman and Joseph Stiglitz) to claim that they can essentially know the future in a very tangible way. It does this by assuming that the future can be known by examining the past
Obama to Make Recess Appointment of Richard Cordray to Head Consumer Financial Protection Bureau ♦♦ Author: Yves Smith ♦♦ Naked Capitalism 01/04/2012
I have not seen this hit the news wires, but got this via Lisa Epstein, in turn from Our Financial Security, which is part of the Center for American Progress, which is a heavyweight Democrat think tank (with of course a whole list of talking points to rebut Republican kvetching about the use of a recess appointment).
This move raises the obvious question: why didn’t Obama make a recess appointment of Elizabeth Warren?
Congress Sics IRS on “Enemies” ♦♦ Author: Bruce Krasting ♦♦ Bruce Krasting Blog 12/29/2011
I was thinking of writing a book. “The Coming Age Warfare”. If I did get around to it, the following story might be the first chapter. Like most wars, the one I see coming between young and old will simmer for years. Along the way there will be skirmishes that result in injury and bad feelings. I find this example comical. But there is nothing funny about it.
Throw the bums out! ♦♦ Author: Bruce Krasting ♦♦ Bruce Krasting Blog 12/19/2011
You want change? Then you are going to have to force change. How? By voting against every incumbent ... even if the incumbent might appear to be the lesser of two evils. He/she isn't. The Powers That Be (TPTB) must be stopped. The only way to do that is to vote them out.
The Fed, MFG and Reg. T ♦♦ Author: Bruce Krasting ♦♦ Bruce Krasting Blog 12/13/2011
The Fed made a bobo when it said it was OK to use customer money as collateral. You see ... if "they" get to do that ... it really isn't the customers' money any more. So ... Mr. Customer ... do you want to give your money to a Bankster? This is a naked short backed by deposits. No wonder they like naked shorts so much.
Quelle Surprise! Banks Lied About Bailout Funds and Got $13 Billion in Profit from Them ♦♦ Author: Yves Smith ♦♦ Naked Capitalism 11/28/2011
The Banksters, the Fed and Washington all lied to the American People. Will they get in trouble for lying? Nope. They had to do it. Americans aren't smart enough ... or so they say. Are Americans smart enough to throw Washington and their Wall Street campaign backers out of office. Especially since bought and paid for Main Stream Media is going along with it?
The Best of the Bozeman Police Reports ♦♦ Author: Tim Iacono ♦♦ The Mess That Greenspan Made 11/27/2011
With a drop in the temperature at this time of year, things seem to be quieting down around here after a busy summer and fall for law enforcement. The batch of reports below, while providing a bit of levity this Saturday afternoon, show a clear tendency for people to be staying home more, away from the bars downtown that seem to be the focal point for many of the incidents reported during the summer months.
The Fed makes a weird move ♦♦ Author: Bruce Krasting ♦♦ Bruce Krasting Blog 11/17/2011
When the Fed does something ... everybody should be listening and watching for how it is going to hit them in the pocketbook