Michael Hudson on Greenspan’s Hackery
This is a short clip and I am sure you'll enjoy it.
Gerd Gigerenzer: On How Decisions are Really Made, Versus How Economists Say They Should Make Decisions, and Why the Folks in the Real World Often Have it Right
This is a bit of a sleeper of a presentation from the recent INET conference. It was from a session titled "What Can Economists Know?" which might cause willies among non-economists as being too much about epistemology and not enough about issues that might give insight, say, into why the overwhelming majority of economists in...
Finance as Wealth Transfer Mechanism: An Interview with James Galbraith
James Kenneth Galbraith is currently a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin. He is also a Senior Scholar with the Levy Economics Institute of Bard College. His latest book is ‘Inequality and Instability: A Study of the World Economy...
Spain’s Severity is Not Sustainable
By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness.
The pain in Spain continues with the government releasing the country’s latest budget which has been described by some...Michael Olenick: Housing Pundit Thomas Lawler and the Genesis of Lawlessness
By Michael Olenick, creator of FindtheFraud, a crowd sourced foreclosure document review system (still in alpha). You can follow him on Twitter at @michael_olenick or read his blog, Seeing Through Data
While researching a HUD database for clues on Thomas Lawler, the frequently-cited foreclosure and heavy-metal loving "housing economist" often cited by...
Spain Follows Greece
By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness.
Back in November last year I posted on my confusion over the jubilation shown by the citizens of Spain...Europe’s Counterproductive Economic Policies Proceeding as Expected
By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness.
Anyone who has been following my European commentary for any length of time will know that I have been running...Gillian Tett Exhibits Undue Faith in Data and Models
I hate beating up on Gillian Tett, because even a writer is clever as she is is ultimately no better than her sources, and she seems to be spending too much time with the wrong sort of technocrats.
Adrift in a Sea of Economic Data
Yves here. This post from MacroBusiness provides a good point of departure, and I'll provide some comments further down.
By Sell on News, a global macro equities analyst. Cross posted from MacroBusiness A little known fact about John Maynard Keynes, detailed in Jane Gleeson-White’s book “Double Entry” is that he was responsible for the development...
Chinese Credit Growth Slows Significantly
Yves here. This is a short post, but don't underestimate the significance. The big picture is that Chinese government has been tightening credit to try to lower inflation, with some success, and various commentators have been calling a soft landing outcome. But residential real estate sales took a tumble in November, and electricity use fell...
