Tuesday, October 6, 2015
Some Tuesday news
It's midterms this week.
I had a stats midterm last Friday and did well, though I know now that I got one question wrong. The sample test only took me 15 minutes but then the real test was a lot longer: I dunno if it's a problem with sleep deprivation or a problem with writing a test in a Quonset hut.
Yesterday was intermediate micro. It was yet another case of the real test being harder than the sample test: I got out after 40 minutes and I was only the third or fourth person to leave. Poor kids are getting killed on these tests.
Thursday is intermediate macro, and just by looking at the sample tests I have a crapton of studying still to do.
Oh well. The gold miners are finally making an upmove, and Whitey seems to have finished puking US equities, so everything's back on set-and-forget while I do my studying.
Next week school is out, but I'll be at work. No problem for you, I still post when at work.
Here's some news:
New Deal Demoncrat - weekly indicators. Industrial recession but with US consumer expansion. The yoy housing numbers are stunning and M1 and M2 are still fantastic: that means consumer capital and velocity of money are accelerating, and those are two huge portions of the US economy.
Calculated Risk - prime working-age population growing again. And that provides a 0.5% boost to US growth.
Streetwise Professor - people get a grip! Glencore is not the next Lehman, and the fear that it is could well be the bottom-tick of the whole mining market right there.
Krugman - on Blanchard. Personally, I agree that Blanchard should be criticized for allowing the "fiscal multiplier = 0.5" bullshit out into the wild: essentially he sent the entire European economy back into recession by encouraging neocon philosophy. But Kruggers thinks he's great cos he admitted his error. Oh well. Blanchard is still a true macroeconomist, which means university professors have even less justification for using a textbook from that clown Mankiw when Blanchard's (and Bernanke's and Krugman's) are available.
Bron Suchecki - sucking silver through a straw. Only a goldbug (or silverbug) is dumb enough to confuse stocks and flows. No, you won't break the Comex by buying silver rounds, dumbass, because the silver rounds manufacturing sector is too small a flow to affect bullion stocks.
Worthwhile Canadian Initiative - could monopoly power explain declining interest rates? This is too wonkish even for me. And probably wrong, since it's based on the silly oversimplified models of economics. I would think that the whole institutional economics field (start with Galbraith, kid) already addressed this decades ago. You just never read them because your profs wouldn't let you.