Monthly Archives: August 2012

Heading to the north

It’s vacation time again – posting to resume after Labor Day. Enjoy the rest of the summer. Advertisements

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Economics as politics by other means

In parallel to my prior post on an emergent pattern of cheating by expert pundits, there has been an equally interesting phenomenon over the past few weeks of what the profession might call “economists behaving badly.” Economists as a profession … Continue reading

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Pattern recognition (updated)

No Criminal Case Is Likely in Loss at MF Global (Dealbook) A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage … Continue reading

Posted in Finance and capital markets | Leave a comment

Wildness and the indigenous American berserk

Pierce on today’s shootings in Texas: There is a wildness in the land that is being exacerbated daily by economic conditions that nobody in the governing elite seems to understand. Neither do they understand the wildness, because it hasn’t touched … Continue reading

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A decent, family man

2008: Fearing the raw and at times angry emotions of his supporters may damage his campaign, John McCain on Friday urged them to tone down their increasingly personal denunciations of Barack Obama, including one woman who said she had heard … Continue reading

Posted in Politics | 1 Comment

Markets in everything and the fiduciary trap

Investment manager Jeremy Grantham’s latest quarterly newsletter is even more noteworthy than usual. It begins on a note of concern bordering on panic that I’ve never seen in an investment letter, and sustains that tone throughout: We are five years … Continue reading

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Why LIBOR matters

This point has likely been made elsewhere, but it strikes me that the real costs to U.S. taxpayers of the manipulation of LIBOR remain opaque. This is understandable – it’s a strange acronym for an abstract interest rate that doesn’t … Continue reading

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