‘Uncertainty’ in Contemporary DSGE Modelling: Not Even Wrong

November 17th, 2017
in history, macroeconomics

 by Philip Pilkington

Article of the Week from Fixing the Economists

Confusion of thought and feeling leads to confusion of speech. — John Maynard Keynes

Readers will note that I very rarely discuss DSGE modelling on here. Frankly, I’m not enormously interested. The fad is one in which economists — or, we should rather say: mathematicians with some loose economic training — have come to mistake analogy for literal explanation.

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The Distribution of Pain

November 14th, 2017
in macroeconomics

by John Mauldin, Thoughts from the Frontline

When you write about economics, you learn very quickly that the economy doesn’t care what you say about it. The forces that drive it are beyond any one person’s comprehension, much less control.

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Tobin’s Q: A Wily Trickster and Slightly Vacuous

November 10th, 2017
in aa syndication

Article of the Week from Fixing the Economists

by Philip Pilkington

I was writing an article recently for an internet website about the recent IMF proclamations that there may be a global housing bubble underway

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The Bankers and the Euro

November 8th, 2017
in history, eurozone and euro, currency / money

by Rudo de Ruijter

 After 18 years following its launching the euro still doesn't work well. An essential element is still lacking to make it a durable currency. Behind the scene the central banks are still keeping it upright with temporary emergency solutions.

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Should Americans Buy Guns for Protection?

November 7th, 2017
in uncategorized

by Elliott Morss, Morss Global Finance

Introduction

Remember the outrage a few weeks back about the Las Vegas shootings? Again, calls for stricter gun controls were heard. And once again, just as what happened after other tragic US shootings, people lost interest. And quite amazingly, bump stocks — the devices that make a rifle fire like a machine gun — are back on sale. And now the Texas massacre. There will probably be another call for more gun restrictions. And that too will.

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