Saturday, October 24, 2015

Some weekend news

As promised, here's some stuff and junk and stuff:

Calculated Risk - weekly initial claims 4-week average lowest since 1973. Is that why it was a good idea to puke the S&P by 10% last month? Seriously, I'm wondering why you puked the S&P last month, Whitey. Is it looking now like that was a good idea, honky?

WSJ RTE - China pessimism is overblown. Hey Whitey, remember when you were scared about the coming collapse of the Chinese economy? Like, last month? Do you feel stupid yet?

Yahoo Finacne - October rally has ETF shorts scrambling. Good job, Whitey! You just lost your clients billions by betting against continued economic expansion. Idiot.

Reuters India - Indian festive demand for gold sluggish. Then why is it back up over $1150? I'm kinda thinking that A. Ananthalakshmi is being paid to run negative stories on gold. - Venezuela ready to dump 80 tons of gold. Izzat so, Frik? Then why is the gold price up? Wanna let us know who paid you to run a downer story on gold? Or did you do it for free?

Krugman - Keynes comes to Canada. Wow, lot of economists out there congratulating Trudeau on not being an economic moron. I wonder if this becomes the new fad among politicians? Quote:
Here’s what the Liberal Party of Canada platform had to say...: “Interest rates are at historic lows, our current infrastructure is aging rapidly, and our economy is stuck in neutral. Now is the time to invest.”
This makes complete sense in economics. Or, at least, it does if your professor admits to you that the Cobb-Douglas production function needs public capital as one of its inputs, which mine have only done in private emails to me, not in public during a lecture. And so the discipline of economics continues to turn young people into idiotic paleoconservatives.

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