Today’s FT contains an article from Jeffrey Sachs in which he writes the following: Fiscal stimulus, in short, has been tried, but did not succeed in spurring a robust recovery. Advocates of stimulus bemoan the idea of reversing the fiscal expansio… more »

by Fabius Maximus Summary:  A mark of successful people and nations is that they function well under stress.  What’s the alternative?  Magic!  Here we look at some examples of the search for magical solutions seen in the US and Europe today.History sug… more »

by Anonymous   http://documents.theblackvault.com/documents/mindcontrol/ADA075694.pdf The link is to a 1979 report by Stanford University Department of Psychology Professor Philip G. Zimbardo and Susan Andersen, published under the auspices of the… more »

The video to be seen below recounts the story of how a young economist, fresh from college, was maneuvered into being the one to tell Alan Greenspan, a consultanat, that his work was not going to be used by his employer, a Wall Street firm. That young neophyte, now Prof Michael Hudson, discusses Greenspan's reputation in his formative days on Wall St. more »

by William K. Black, New Economic Perspective. The usual apologists have rushed to the defense of Jamie Dimon, JP Morgan Chase’s CEO, after he announced that JPMorgan lost over $2 billion on purported hedges.  The academic apologist-in-chief, Yale L… more »