Proud to Be a Nihilist: Bill Mitchell on Econometrics and Numerical Prediction

December 3rd, 2016
in macroeconomics

by Philip Pilkington

Fixing the Economists Article of the Week

Someone said to me a while back:

“Phil, you are always railing against econometrics but some of the MMT guys and quite a few Post-Keynesians maintain that these techniques are useful and valid”.

I recognise this fully well actually. It preoccupies me perhaps more than it should. Indeed, Post-Keynesians are using econometrics with increasing frequency — and at the very same time they are becoming increasingly interested in highly abstract modelling. I’m not a big fan of this trend as readers of this blog will probably have guessed.

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Fixing Obamacare – Why It Won’t Be Easy

December 2nd, 2016
in uncategorized

by Elliott Morss, Morss Global Finance

Introduction

In the run-up to the election, Trump and Congressional Republicans emphasized that the first order of business would be to get rid of Obamacare. They pointed to the premium rate jumps announced for the current year and those projected for next year as indicated I the following table.

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Adjustments to 3Q 2016 GDP Include Increased Consumer Spending

November 30th, 2016
in consumer metrics institute, gdp

by Rick Davis, Consumer Metrics Institute

BEA Estimates 3rd Quarter 2016 GDP Growth to be 3.15%:

In their second estimate of the US GDP for the third quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the growth rate was +3.15%, up +0.24% from their previous estimate and up +1.73% from the prior quarter.

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What Should Trump Do?

by John Mauldin, Thoughts from the Frontline

“The problems of victory are more agreeable than those of defeat, but they are no less difficult.”
Winston Churchill

“Crying is all right in its way while it lasts. But you have to stop sooner or later, and then you still have to decide what to do.”
– C.S. Lewis, The Silver Chair

“I must have a prodigious amount of mind; it takes me as much as a week, sometimes, to make it up!”
– Mark Twain

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The Federal Reserve's Distorted Economic View - Or Is It Just Spin?

Written by

I have a hard time believing that the FOMC members actually believe what comes out of their mouths.

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