Monday, October 2, 2017

Monday news

Seems like the market's climbing a wall of worry again... everyone's doubting it as it continues to scale all-time highs.

In other news, I got 84% on my first Metrics 2 test, which is okay, so I'll be sticking at it.

Here's some high-class reading for those of you who think multisyllabically:

New Deal Demoncrat - weekly indicators. Everything's still hunky-dory.

IPE Zone - can US stocks still rise? Yes, because there's nowhere else for the tens of trillions of world wealth to go.

CFR - the world's China problem. They just can't get it through their fucking heads that China has figured out that macroeconomic orthodoxy is only one possible solution, and that a strong enough state can do what it wants.

Tim Taylor - demography rebalances Asia. I know for a fact that wealthy old people don't spend down their wealth. And as for India, it's a clusterfuck: the only way it grows is by (1) exporting goods via satellite because their transportation network is a disaster, or (2) generating fake numbers for their real estate values. Neither of those is a recipe for success.

WSJ paywall - many students around the world can't read. As it turns out, the growth economist's assertion that "education spending raises human capital" is bullshit. You have to actually have teaching, not just spending.

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