Folks,
I found an interesting quote about prices in the Contribution
"Prices are thus high or low not because more or less money is in circulation,
but there is more money in circulation because prices are high or low. This
is one of the principal economic laws, and the detailed substantiation
Thanks to all those that set me straight on the Keynes' "Lenin Quote."
BTW, I am fairly certain that JMK got the phrase "animal spirits" from Marx!!
Thanks again,
Jason
In a message dated 98-05-02 18:01:06 EDT, you write:
I get questions like this all the time, and never know what to answer. Any
advice?
I purchased your "Wall Street" and I find myself lacking substantially
enough economics background. I was wondering if you could recommend to me,
Where, and in what year did Lenin say:
"Debauching a currency is the surest way to ruin an economy."
Also, did Marx or Lenin have any specific comment about inflation and its
causes?
Thanks so much,
jason
Well, I gues I should tell everybody:
Today is my 40th birthday. Somehow astrology and politics must have had some
role way back when... (alright, so I also played left wing in ice hockey).
Can anyone tell me if there are any children's sneakers that are: 1) made in
the US, and 2) not under
Jim,
Why don't you call him at 212-229-5717
Jason
In a message dated 98-04-17 01:36:03 EDT, you write:
Comptroller of the
Currency
If its that guy Lugwig, there are a lot of insurance agents who HATES what
he's doing to financial services (of course, all those Travelers' guys have
just been given a new script by that mis-named communist,
In a message dated 98-04-15 17:12:39 EDT, you write:
Finally we have a Hashimoto government whose posture generally seems to be
that tax cuts plus *monetary easing* (not exactly the world consensus
recommendation) will produce the necessary growth to solve the problem.
Meanwhile they are
To whom should I address this note - Is it "Kevin" Bevans or just Boddi
Bevans?
Anyhow, I've enjoyed your comments about the Japanese situation.
In the Sunday NYTs "Week in Review" there is a chart showing the Dow (up +800%
since 1980) vs. the Nikkei (up about 180%). The author, David Sanger,
Folks,
FYI: Schwab is offering a 7.75% - 9.25% margin loan rate.
Ever notice that a loan shark is never around when you really need one!
J
Folks,
I'm trying to write a critique of the mainstream analysis of the balanced
budget arguments, especially in light of the recent "balance."
Looking back in the RRPE, I found one article by Paulo Cipolla in Vol. 24 #2,
Summer 1992. I like Cipolla's approach but it is a very short article.
Once again, the "paper of record" comes not to praise (or bury) Doug, but to
note that his tome "Wall Street" a quote "left deconstruction of financial
markets" was #1 in sales at the "academic, Labyrinth Books." Of course, Doug
is good enuff for the style section, but, ahem, really not
Jim,
Thanks so much for your thoughtful reply.
I will indeed get your article out of the URPE reader (and reflect on your
references and comments).
Would you mind taking a look at the "radical" section when I'm done?
By the way, I always check your posting and Doug's on pen-l. Unlike others,
Folks,
I wanted to take a quick survey of whether inflation remains an "economic
issue." I'm helping Bob Carson update his "Economic Issues Today," which
Sharpe expects to publish in December. I don't know how many of you are
familiar with the text, but it covers 15 issues (7 micro, 7 macro, 1
In a message dated 98-03-19 11:52:19 EST, you write:
Eh? Where'd this happen? Which Fed economist, where?
Latest issue of the "Journal of Economic Perspectives."
jason
Jim,
I like your idea! Isn't there a "contrarinan" shool of invesment analysts who
use Time covers and the sort (I think somebody uses this at Barron's). The
key thing, is that economists are so full of crap (most of the time) re:
"turning points" that your indicator is probably an indicator
Here's an interesting twist:
Zvi vs a FRB Economist, with Zvi claiming no U-Turn in poverty rates (based on
consumption, not income) and the Fed guy responding that while not as "bad" as
census is reporting, poverty has been trending upward (possibly).
ZG concludes we have won the war on
In a message dated 98-03-14 06:26:38 EST, you write:
Short-term bobs in interest rates aren't the same thing as long-term
trends.
The data I cited was for long-term rates.
Hey folks,
I like the discussion, but try to pay attention to one another:
Long-term RATES are different from
Doug,
I have a good friend who used to be the manger at WPUB (Princeton's station)
which went "commerical" in the late-1980s.
BTW, are the income and net worth data (in LBO 80) your figures that are
compiled from Fed data or the actual Fed numbers.
Jason
Do they figure in "security costs?"
The NYTs did a piece about crime in Mexico and S. Africa on this topic. Seems
that CEOs should take care (i.e. have an army to protect them).
jason
In a message dated 98-03-09 12:01:57 EST, you write:
there's a
big increase in lawsuits by employees against companies. It's expensive,
but not totally so given the ability to hire a lawyer on contingenc
Jim.
Most lawyers do not take wrongful termination or other employment cases on a
Check out the lastest issue of the "Chronicle of Higher Ed."
also "Academe" and "Aft On Campus" have had a bunch of articles.
Jason
In a message dated 98-03-08 02:52:45 EST, you write:
3) Where does Ricardo point out that particularly mobile capital can undo
his whole thesis of comparative advantage?
Page 155, "On Foreign Trade," in Principles Pelican Books (1971)
Ricardo notes how capital flight will only be
Doug,
Why don't you forward this to Letterman's writers, place it under:
"Stupid Dictator Tricks," maybe they can segue it into "Torturecam."
Jason
Tom,
What a great example!
I'm bring it to class next tuesday
Jason
In a message dated 98-01-26 18:24:22 EST, you write:
Yet what else can they try? At some level of international indebtedness
the willingness of speculators to hold dollars will disappear, and it
would appear from your chart that that day is fast approaching. At
least the low interest
Louis,
If you still have the file, could you re-post the speech.
Or, if it is in the archive, could you send me the site name?
Thanks a million,
Jason
John,
The only model more "add-factored" (i.e. the amount of "fudiging" needed to
override the model's "unruly" predictions) are the interest rate equations.
Moreover, even with all the fancy GARCH stuff - none of the commercial
forecasters use it - they stick to an old tried-and-tried eclectic
A basic problem with "overshooting" is that equations that do overshoot are
victim to the "never the same" paradigm that econometric parameters can never
capture. S, we have things like "Chow Tests" that suggest some profound
"structural change" has taken place. Ex post, dates like 1873,
In a message dated 98-01-19 17:03:14 EST, you write:
Shorter term models bring in capital movements, but
even there there are differences between stock models and
flow models. The latter generally involve interest parity
conditions. Thus, higher interest rates should raise the
value
In a message dated 98-01-17 18:56:50 EST, you write:
What's happening with relative productivity growth in the SE Asian
countries? Shaikh says that fundamental currency values are determined by
relative productivity changes, and he's got a convincing set of charts to
prove it.
I believe
In a message dated 98-01-19 10:47:44 EST, you write:
Ornette Coleman is a symbol of this migration. He started off playing in
rhythm and blues bands in Texas bars with largely black clienteles. Under
the impact of the bebop revolution, he began to rework some of the basic
principles of the
In a message dated 98-01-18 00:16:08 EST, you write:
Most young black jazz musicians follow in the
footsteps of Wynton Marsalis, whom some people regard as a neoconservative.
He is the curator of the jazz program at Lincoln Center. His partner is
Stanley Crouch, the author of "The Hanging
Folks,
Can I get avg hourly earnings for the "Auto Repair Shop" industry (SIC )
by state, from about 1972 to 1996?
Thanks,
Jason
Folks,
If the SL costs were counted as an "on line" current budget expenditure how
much greater would be the deficit?
Similarly, taking the Soc Sec surplus off the revenue side would imply a
larger current budget deficit?
Any estimates how large the 1997 deficit would be?
Thanks
Jason
In a message dated 98-01-07 23:47:15 EST, you write:
So we've dis'd sex, we've dis'd durgs - who's up for rock n roll?
Is everybody really bored with this "Nina Thread?" How about something really
interesting! Alright here's my challenge:
I challenge any Pen-ler to a battle of the
The recent shortage in oil drilling equiment has prompted an Alabama rig
manufacturer to use prison inmates to build rigs (see NYT Business Section,
11/1/97).
While Oil Exploration mutual funds are up over 70% YTD, crude oil prices
continue to stagnate.
Any interesting thoughts on this?
jason
In a message dated 97-12-13 02:51:14 EST, you write:
But it is also true that many PoliSci departments are
quantitatively oriented, and in those cases, it may well be that the
analytic rigour of economics has made a major contribution to fuzzy-minded
regressions and factor analyses.
In a message dated 97-12-08 13:56:25 EST, you write:
This is also true, incidentally, of banks, who tend to make money on only a
very small portion of their checking account clients. These are yet two of
many examples of why the unrelenting chorus of "let's have more competition
and we'll
Jim,
Which Barrons article had the stuff on "December effect." RE: Seasonal
Adjustment, the guys I work with (actuaries) refuse to deal with the Gov't
Seas Adjust problem; they'll take a lot more autoregression from using 4QMA's
rather than the stupid revisions due to bizarre seasonal factors.
In a message dated 97-12-05 20:03:02 EST, you write:
but it's pretty clear
that information technology, software, telecoms, multimedia, biotech,
aerospace, and the medical industry are going to be the growth poles of the
early 21st century. Most of these industries are indeed overrepresented
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