From Wikipedia: ‘On the right and in conservative and libertarian quarters, Sowell is lauded as a “giant”,[40] brilliant,[41] one of the most original[42] and prolific intellects of our time,[43] “a national treasure.”[44] and someone to whom a Nobel Prize should have been awarded long ago.’ So why, in spite of his prolific output spanning six… Continue reading Why Thomas Sowell Never Got a Nobel Prize
Tag: economics
How it’s Possible for the US Economy to Be Strong Even if Many are Not Fully Participating
Republicans Need To Chill: Life In The United States Is Really Good On A Historical Perspective With the exception of his obvious partisan jab against republicans, he’s right about the economy and America, but with some caveats. It’s worth keeping in mind that, until 2008 or so, the GOP was the party of economic optimism… Continue reading How it’s Possible for the US Economy to Be Strong Even if Many are Not Fully Participating
Correct Predictions, Part 3
Awhile back, I wrote that stocks would be a good buy should the market fall on ‘exit’ win. In agreement with James Altucher, for long-term US investors, Brexit doesn’t mean anything (it may actually be a positive), and I remain optimistic about the US stock market going forward. Brexit will not prevent Facebook and Google… Continue reading Correct Predictions, Part 3
Anaysis of Latest memo from Howard Marks: Economic Reality
This is going viral: Latest memo from Howard Marks: Economic Reality, presented by Oak Tree Capital. Central bank actions can encourage or accelerate economic activity, but they can’t create economic activity that otherwise wouldn’t occur. Much of what central banks do consists of making things happen today that otherwise would happen sometime in the future.… Continue reading Anaysis of Latest memo from Howard Marks: Economic Reality
FOMC Stupidity
Form the Reformed Broker: This is a low-flying panic attack There are too many people who believe that just because they have a blog and opinions, they can also pretend to be fed chairman, because obviously the fed is doing it all wrong, and it’s up to the lowly blogger to ‘set them strait’. The… Continue reading FOMC Stupidity
Job Report: Much Ado About Nothing
The usual suspects are freaking out about the bad Friday jobs report, which showed unusually weak hiring (38,000 jobs created vs. estimates of 150k). However, as you can see below, every year for reasons unknown there are a couple unusually low prints, and then it rebounds. In Jun 5, 2013, the number missed badly, yet… Continue reading Job Report: Much Ado About Nothing
Ascended Economies
Lately there has been some discussion about “ascended economies” – economic systems where humans are removed from the process. Scott has two posts about the matter: If capital investment gets automated, corporate governance gets automated, and labor gets automated, we might end up with the creepy prospect of ascended corporations – robot companies with robot… Continue reading Ascended Economies
Coding as the ‘New Literacy’.
More evidence that it pays to be smart: Global oil and gas job losses: 350,000 and counting The exploration and production (E&P) sector was the second worst sufferer, registering more than 80,000 layoffs, followed by the drilling sector, which has seen more than 52,000 job cuts. U.S.-specific data from the report shows that nearly 100,000… Continue reading Coding as the ‘New Literacy’.
Jobs, Basic Income, Post Scarcity, and all that Jazz
There have been a smattering of wealth inequality/economics articles lately: THREE GREAT ARTICLES ON POVERTY, AND WHY I DISAGREE WITH ALL OF THEM Economics Has Failed America Scott goes on about the unrealistic expectations of trying to teach everyone high-IQ skills, when biology imposes barriers to such hopes: The QZ article warns that it might… Continue reading Jobs, Basic Income, Post Scarcity, and all that Jazz
Coming to Terms With Our New Economy
(Parts of this essay were cut from an earlier article, which I shortened to make a new one) From Forbes: Why ‘The System’ Is Rigged And The US Electorate Is Angry Then in the 1970s, something went wrong. It was as if a strange new economic disease began to infect everything. Firms focused more closely… Continue reading Coming to Terms With Our New Economy