The prophets of doom are at it again, this time with yet another beseeching article about how rising consumer spending cannot coexist with falling income. Consumer spending is around all-time highs as a share of U.S. GDP, while labour income is at multidecade lows, he explained. “This has been wonderful for corporates: consumer spending boosts… Continue reading More Bullshit by Business Insider
Author: smartistone
The State of the Economy
We’re in a value centric economy. People are being paid for the value they produce. Wages were too high pre-2008 relative to the value being produced. The freelancer economy including sites like Task Rabbit is part of a trend of labor converging with value. High-salaried tech employees have drastically driven up rents in San Francisco.… Continue reading The State of the Economy
Could High Frequency Trading Have a Stabilizing Effect on the Market?
Many assume high frequency trading (HFT) has made the markets less stable and dishonest. In reality, markets were unstable and crooked before the advent of computerized trading. A century ago, it wasn’t uncommon for indexes and individual stocks to fall several percentage points in a single day for seemingly no reason. Fast forward to today… Continue reading Could High Frequency Trading Have a Stabilizing Effect on the Market?
Could Republicans Endorse Eugenics?
Zman writes: You are not going to hear Rotary Club Republicans advocating euthanasia or forced sterilization of the unfit. Those are topics discussed by Progressive in the faculty lounge. Not so sure about this. I’m sure it’s the other way around. Covertly, many republicans probably do acknowledge the potential good that can come out of… Continue reading Could Republicans Endorse Eugenics?
Liberals Attacking Technology Again
The Flash Boys vs. the Market Machines Liberals like Michael Lewis are attacking technology again. This time it’s high frequency trading. HFT has more positives than negatives in terms of lower costs for retail investors. HFT simply means trades occurring at a high frequency. There is nothing inherently malicious about that. A couple weeks ago… Continue reading Liberals Attacking Technology Again
Job Report Proves Krugman is Wrong
Today’s job report throws more cold water on Krugman’s thesis that inequality is bad for the economy or that ‘GOP imposed austerity’ has hurt employment. After a winter slowdown, the job market hit a milestone in March as the private sector finally recovered all the jobs lost in the 2008 financial crisis. I hate to… Continue reading Job Report Proves Krugman is Wrong
Let’s Teach the Kids to Code
Granted financial analysts and economists are important people, but what is the public liberal school system trying to teach their young minds? The left has criticized standardized testing for years, but it’s still the most objective way of measuring ability because grade inflation and differences of curriculum has rendered high school GPA’s nearly useless. A… Continue reading Let’s Teach the Kids to Code
Nicholas Nassim Taleb Wrong Again, Loses Temper
http://noahpinionblog.blogspot.com/2014/01/of-brains-and-balls-nassim-talebs-macro.html What does Nicholas Nassim Taleb and Paul Krugman have in common? A tendency to make a lot of wrong predictions and not own up to them. Second, a tendency to sanctimoniously blame certain people like the 1%, bankers, high frequency traders, congress, Wall St., the fed, and economists for societies problems. But mostly bad… Continue reading Nicholas Nassim Taleb Wrong Again, Loses Temper
How Not to Predict Crisis
According to the left, financial crisis is always immanent and everything is a bubble. Liberals like Peter Schiff and Nicolas Nassim Taleb have argued that the financial system is more prone to collapse than before 2008, even though they have been repeating this line for the past five years to no avail. Instead of being… Continue reading How Not to Predict Crisis
Crimea Much Ado About Nothing
Crimea is still in the news. So far only a single death. Baby strollers are more deadly than Putin. The left is so anxious for things to get worse so that the stock market falls that they are front-running events that have not even happened yet, or so show no signs of happening. Like the… Continue reading Crimea Much Ado About Nothing