markets

About the disturbing disconnect between markets and the real economy

By / 3 Comments / 5 March 2015

Summary:  Today we have a guest post about the often discussed but still mysterious disconnect between the US risk markets and the US economy — between Wall Street and Main Street. Since the crash, economists and investment strategists have confidently predicted it will close soon, certainly when the economy accelerated back to near normal speed. …

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Let’s ignore another warning from the BIS. Do we enjoy paying for burst bubbles?

By / 43 Comments / 30 December 2015

Summary: As one market after another drifts off into bubble valuations, a few institutions warn of the consequences. As usual (we’ve done this so many times), we ignore them — our passivity and ignorance earning our role as the deep pockets paying for the resulting damage. This post looks at a few of the warnings …

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Why the libertarian rich & their bankers love price controls – on money.

By / 20 Comments / 11 October 2017

Summary: Marx believed that the inherent contradictions in capitalism would bring about its downfall. Events since the crash have revealed contradictions between the values and actions of the 1% and their bankers. But they’ve successfully managed these contradictions. That’s the operational genius of the pseudo-philosophy called libertarianism.  {1st of 2 posts today.} The price system …

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What does the data tell us about the US economy in 2015?

By / 9 Comments / 11 October 2017

Summary: Let’s again look at the data about the US economy (we cannot directly see it, of course), both the recent past (dimly seen) and the immediate future (looming ahead in the darkness). Slower growth than usual since WWII, with higher risks and more unknowns. Just as I’ve reported for the past four years. (2nd …

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Expect the unexpected: fish

Lessons from WWI about “markets” ability to see the future

By / 3 Comments / 4 October 2018

Summary: Brad Delong (Prof Economics, Berkeley) reminds us that on this day in 1914 the NYSE ended the longest period of stopped trading. The outbreak of war on 31 July triggered “the longest circuit breaker” in NYSE history. His post, as usual, gives an interesting account of that episode. Who closed the NYSE, and why? …

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