Incompetence

Contracts under Anarchy

It appears that Iran is already uninterested in meeting its obligations under its recent agreement.  From the Wall Street Journal, August 7, 2015: Iran’s stance complicates the International Atomic Energy Agency’s probe into Tehran’s suspected nuclear-military program—a study that is slated to be completed by mid-December, as required by the landmark nuclear agreement forged between world powers and Iran on July… Read more →

The NYT’s forgets history…

Here is the title of a ridiculous little piece in a former newspaper, the New York Times: Germans Forget Postwar History Lesson on Debt Relief in Greece Crisis The author argues that Germany, “benefited not so long ago from more lenient terms than it is now prepared to offer” Greece.  In 1953, Germany’s creditors cut its outstanding debt in half. What… Read more →

How’s that PR working for you…

Read this article, and then consider the very last line… Click title for original.  I edited the article [in brackets] to make it PG.  Bold indicates to pay attention… Woman Says High-Profile Lawyer [did bad things to] Her After a Party for Al Sharpton A prominent New York attorney is under investigation after he allegedly [did horrible things to] a woman he met… Read more →

Turn down…

I am sorry to report that I cannot accept the offer from XXXX.  I would like to thank you for your time and effort in interviewing me.  The reality is, your offer is characteristically (of you) insulting to my efforts, particularly as it displays a crass indifference to market realities.  These same market realities, ones of which any good economist… Read more →

Checking your (my) privilege.

With all of the discussions about privilege, I recently red Peggy McIntosh’s 26 points about white privilege – those things in our daily lives that are easier because I am white.  With a few exceptions, they are drivel… She assumes her position to be that of everybody’s position.  Here are the points and my responses to them.  (Find the paper… Read more →

Math Continues to be Hard

George Will posted an article this morning in the Washington Post entitled Amend the Constitution to Control Federal Spending, and it had this little gem in the comments section: Yet another conservative using the Great Recession and its aftermath to promote lunacy.    Under President Obama spending due to policy changes has fallen. The cause of most of the increase… Read more →

Part 2: some more rotten numbers…

This is from the New York Post, April 1, 2014, by John Crudele: US, In collecting and grading pricing data, is playing us for fools.  It provides a pretty good overview of what is wrong with government numbers and how they get unduly manipulated to meet political ends. Think of all the government numbers they have an incentive to fuck… Read more →

Part 1: I can make up numbers too…

It seems like there is a lot of bullshit spewing from the lips of government interpreters.  Not just at selfie-opportunistic funerals, where the interpreters are invited to conduct interpretive dance, but coming from the very government departments responsible for providing timely and accurate data.  Full disclosure: I frequently rely on government data in my research and work (did you think… Read more →

Recession inducing politics…

There seems to be a fairly extensive discussion recently about weather suppressing economic output, particularly given the extended winter weather in the East and Mid-West.  I am taking the ZeroHedge stance and am not convinced that weather patterns across half of the US are impacting global economies the way analyst are convinced (or are trying to convince others).  It seems… Read more →