Thursday, September 28, 2017

Thursday stuff

Well, my first Metrics II test was a lot easier than I thought, so I guess I'll stick with it. At least, I need to see what the marking scheme is like.

Anyway, let's catch up with some news of the past few days:

New Deal Demoncrat - Yellen just confirmed 2% is the new inflation ceiling. So when the Fed causes a Volcker recession in the next year, you'll see a deflationary wage-price spiral. Yay! Buy gold!

WSJ Paywall - global growth picks up, but can it be sustained? Writing it off as "the cellphone effect" is nonsense. Cellphones are just another consumption good. If people are buying them, then they have money to spend. Coulda been mangoes for all we care.

IPE Zone - did Xi and Macron just make US stocks great again? Quote:
From Xi Jinping’s China to Emmanuel Macron’s France, politicians are delivering policies that businesses want. As a result, the world economy is growing faster than at any time since the post-crisis bump of 2010. The yuan and the euro have risen sharply against the dollar. A more competitive greenback and the prospect of strong exports have supported U.S. stock prices. A Chinese communist and a French technocrat have done more for American business than Trump has.
Take that, America!

NY Times - US corporations guilty of collusion, face jail time. Haha no. No, there's no such thing as anti-trust law when it comes to gentlemen's agreements between fast food companies to refuse to hire each others' former workers. Yes, there should be, because this is collusive action that restricts free markets. But economic theory, don't forget, only ever exists to make the rich richer and the poor back into the slaves they were before WWII.

Reuters - Republicans fail again! Because they're morons. Thankfully, they've just saved thousands of lives by being morons.

Noah Smith - handwaving on health care. The thing to understand is that John Cochrane isn't a real economist. Yes, he is a pretend economist, and yes he tore the RBC boys a new one when he proved they didn't know undergrad-level econometrics, but he's also a twit who blathers utter fucking nonsense in an attempt to rent his bunghole out to the Republican Party.

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