Monthly Archives: February 2014

From Monty Pelerin: How to Identify an Economic Zombie

Find the original here: How to Identify an Economic Zombie. This post is relatively oversimplified, but I think it captures the bullshit espoused by the neo-Keynesians, such as former economist Paul Krugman, and the nonsense inherent in the progressive, neo-liberal mindset that eternal deficits won’t have any negative long-term impacts on main street.  The permanent inter-temporal dislocation of consumption essentially… Read more →

Yes, WhatsApp was Overpriced

From today’s WSJ: A nice article about the mathematics behind Facebook’s $19 billion purchase of WhatsApp. Where the author, in attempting to use some math (remember, math is hard) has this to say (comparing Verizon’s purchase of its joint venture, a deal in which it paid Vodafone $130 billion): So what would happen if we benchmarked revenueless WhatsApp against this… Read more →

Why to give money… to big fancy Universities.

Matthew Yglesias (yes of that horrible detritus Slate, a euphemism for the institute for kids who can’t write good and wanna do other stuff not good too) has written another sure-fire winner of the philosophically and economically challenged award.  Today, he slams the giving of large gifts to elite universities with large endowments, claiming that the money is less useful there… 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 →

Warren Buffett: Populism versus Reality

From this morning’s WSJ: “Heinz also will close factories in South Carolina and Ontario, Canada. There have been two major shake-ups in the executive ranks, and its core North America business is on its third chief executive in eight months. All told, the new owners have reduced head count by about 1,480, or about 5% of the world-wide workforce, as… Read more →

“Why is it always…”

“Some horrible person who just won’t listen to what your saying…???” If you work for a large bank, airline, insurance company, utility, etc… this is what gets written about you: “What the hell… banks suck, especially when they assign the lowest common denominator to handle anything requiring mental activity.  I hear you raising your voice a little bit, but I… Read more →