Short-term I would lose about 1-2% percent on the
borrowed fund but in the long-term I would gain 1-2%
when I lock in a long-term bond that has a coupon rate
that is above the borrowed rate. I don't see how bond
would be a loser if interest rates goes higher since I
will locking in a bond
- Original Message -
From: fabio guillermo rojas [EMAIL PROTECTED]
To: alypius skinner [EMAIL PROTECTED]
Cc: [EMAIL PROTECTED]
Sent: Saturday, October 18, 2003 11:47 AM
Subject: MVT and policy portfolios
- people spend an inordinate time satisfying extreme voters, even
- people spend an inordinate time satisfying extreme voters, even after
winning a party nomination
They're trying to put together a winning coalition by targeting a variety
of market segments. You don't see General Motors or Altria/Philip Morris
targeting just the median car buyer or median
Of course, if the losses from immigration restrictions are greater than
you might think, the gains of weaker restrictions are also greater than
you would think. When you double the number of immigrants, you will be
admitting a lot of people with a lot of surplus, not just marginal
Well, we have reaches a level of life exactly equal to our own, and we
haven't colonized anything beyond our planet. The tehnology is
probably there, but the costs are high and the benefits are unclear.
The same maybe true 200 years from now.
(Gee, I hope this is on topic!) Anyway, a
billion--that's a .001%
benefit to the average US citizen, and it may well be canceled out or worse
by net negative externalities, which are much easier to enumerate than
positive externalities, perhaps because there are more of them.
enter under such an arrangement would be hostile to libertarian
Contra Costa Times
December 4, 1999
Immigration policy stupid, evil and hurting Americans
By Peter Brimelow
IN AMERICA, WE have a two-party system
Around U.S., a House Is a Home but Not a Bonanza
August 6, 2003
By DAVID LEONHARDT
FORT WAYNE, Ind. - On a tree-filled boulevard known as
Doctors' Row, the four- and five-bedroom brick Tudor homes
that are the jewels of this city's housing stock were
selling for about $150,000 two decades ago.
i think there is a at least partial contradiction between the hypothesis
of diminishing marginal return of income and the hypothesis that people care
about consuming more than their neighbors or about earning more than their
neighbors (Frank: Luxury Fever). If the latter is
The spectrum leaseholders should be free of any content restrictions
than the usual laws about fraud). That would create a market for the
highest and best social use of the spectrum.
I was cheering you on upto here. Banning content restrictions (which I
think is a decision that
Public release date: 14-May-2003
Contact: Denise Brehm [EMAIL PROTECTED] 617-253-2700
Massachusetts Institute of Technology
Stock trade patterns could help predict financial earthquakes
CAMBRIDGE, Mass.--The stock market has its share of shakeups, but who would
RACE, POVERTY, AND PERSONAL INJURY AWARDS
For years lawyers have talked about the Bronx effect, the idea that
juries from high-poverty areas with large minority populations favor
injured plaintiffs. But anecdotes aside, little hard evidence has
been brought forward one way or the other. The
Bush Advisor Matt Simmons Who Advised
Cheney's Energy Task Force Confirms Peak Oil is Major Concern of Bush
Peak Oil Symptoms More Apparent
Recoverable Reserves May Be Less Than Hoped
Natural Gas Shortages May Appear in US This
Does anyone know how often CBA is actually used in making
policy? What percent of the federal budget (or state or local) has been
determined by CBA?Cyril Morong
I'm sure it's used frequently. It's
probablyapplied something like this: "what's the minimum amount of
Bullshit or not?
Assumption 1: There is a trade off between welfare state spending and
Assumption 2: The more you spend on military, the more a gov't can project
Assumption 3: The Median European voter prefers more welfare state than
July 2, 2001
IN DEFENSE OF FREE CAPITAL MARKETSBy
David F. DeRosaBloomberg Press, $27.95, 230 pp.
Reviewed by Gene
Epstein This book is the
proverbial tall drink of water after a long trek through an intellectual desert.
Thanks for the accurate data. Elsewhere, I have read that the pre-war baby
bust began in the mid-1920's--before the great depression--and so could not
have been entirely a result of the difficult times of the '30's. If it
isn't too much trouble, can you either confirm or disconfirm this
Issue 4 November/ December
Concise and comprehensive paper by Dr Chris de Freitas
pointing out myths and fallacies in the entire IPCC position. Dowloadable pdf
file just over 1 Mb.
CSIRO and the greenhouse game:
should drive down
both the price of stocks and the yield on bonds.
History shows paths to market crashes, but lessons seem
forgotten LARRY ELLIOTT THE GUARDIAN,
LONDON In the spring of 1720, when all of London was clamoring
This article can be found at several sites on the
net. This link is to a left-wing site where the feedback was almost
uniformly negative, but, as so often in leftist critiques, factually
empty.Does anyone on the list have any comments about this
story?Despite the fact that the left-liberal
Japan: Divorces and parasites upset the balance
Review February 21, 2000Divorces and parasites upset the
balanceTokyo Observed,By Andrew CornellOne of the enduring
images of Japan, even in these recessionary days, is
The Clout of CapitalFriday, April 19, 2002Donald
LuskinThere's an important new book that every investor should
read.First published as Luskin's Ahead of the Curve column for
SmartMoney.com on April 19, 2002.THE FORCE OF FINANCEReuven
BrennerTexere: 2002The Force of Finance is an important
(REUTERS) UPDATE 3-Argentina
says to default again on World Bank debtUPDATE 3-Argentina says to default
again on World Bank debt(Adds World Bank confirmation,
separate bond, paragraph 6) By Brian
Winter BUENOS AIRES, Argentina, Dec 13 (Reuters) -
Argentina'sgovernment said it would default
Eamonn Fingleton, Is Japan Faking It?
The Australian Financial Review, Friday 22 November 2002, in the Review
For a decade now, the Western consensus has been that Japan is an economic
basket case. But this is a dramatic misreading of a perennially secretive
In my opinion, here is another fine
example of domestic political expedience triumphing over economic
rationality. Of course, money isn't everything, but one also has to ask:
what will we ultimately have to show for our national "investment?" And why do
our politicians persist
The social cost of the occupation
by Nehemia Strasler
This week the parliamentary commission that investigated social
in Israel published a 55-page report dealing with the reasons for the
increase in the socioeconomic gaps in Israel over the past 20 years. Even
Globalization and Its Discontents By Joseph StiglitzW.W.
Norton Co., May 2002. 282pp.
For most of the world's people, globalization has not worked
is that Iran will be our next conquest after Iraq--do they
have enough oil left to pay for a war, too? If not, maybe Iraq could pay for
Friday, Dec. 6, 2002
$2 Trillion to Fight Iraq?
War with Iraq
mutual fund manager possesses--to take advantage of it.
in many ways less striking than the parallels.)
I've never really studied the Median Voter Theorem.
Recently I read where someone claimed that the U.S.
political system was designed to keep the two parties
nearly identical by keeping other parties out. I
Statistical physics predicts stock market
NewScientist.com news service
A statistical physics model is predicting that the US stock
--- Alypius Skinner [EMAIL PROTECTED] wrote:
A statistical physics model is predicting that the US stock market
recovery suggested by recent rises will only last until spring next
before tumbling yet further.
Why would this contradict efficient markets?
I originally called
growth and security.
Jacob W Braestrup wrote:
Alypius Skinner wrote
Thus some sort of
balance must be struck between compassion for our fellow man and
the incentives for temptation-prone people (who are often the same as
incompetent or semi-competent people) to resist temptation
is a policy guaranteed to increase abuse
of taxpayer generosity.
(COMTEX B: Mortgage market commentary--Low rates
require persistent panicNov 22, 2002 (Inman News Features via
COMTEX) -- The tone of financial marketsshifted suddenly this week, favoring
stocks and hurting bonds and mortgages. Byyesterday, 30-year fixed rates
touched 6.25 percent in the
Higher energy prices are needed now to signal the real
scarcity to come. Without higher prices we will not invest in the
alternative energy technologies needed for a smooth transition to the
post-petroleum age. Without higher prices we will not conserve the
fossil energy needed to manufacture
problems with email lately; this is only a test; please ignore
Krugman tries so hard to make his case that he
ignores some other factors (perhaps even more controversial) that contribute to
some of the new social developments that Krugman describes. Unfortunately,
I don't have time to comment on them, but they would not in any
eventcancel out the
Will Britain succumb to Japanese disease? The spectre of deflation is haunting
central bankers around the globe Faisal IslamSunday August 18,
In Waco, Texas, at
President Bush's 'economic forum', the pom-poms
greater practical results,
equal results, or poorer results? Does anyone have any idea?
How the Greenspan bubble burst William KeeganSunday September 8,
There was a period
during the chancellorship of Nigel Lawson when some Treasury officials favoured
the 'spritzer' as a drink. This is neither
so highly leveraged that it constantly dances on the precipice of
disaster? Is the global economy really that fragile, or are the risks of
catastrophe over-rated? Does anyone wish to venture an opinion?
government funding of scienfic
research? I am not convinced that this is the case, but, as they say,
stranger things have happened. We ought to look and see.
The review didn't seem to
indicate that that was addressed.
--- Alypius Skinner [EMAIL PROTECTED] wrote:
The Case against Government Science
The Economic Laws of Scientific Research
man for all markets At 93, the scourge of contemporary economics, JK Galbraith, is on the
attack. The author of The Great Crash tells William Keegan that President Bush's
moves against recession are no use at all Sunday
done in the north? If
anyone has the answer to these questions, we might understand why the
post-War South was for so long impoverished.
When Economics Shifts From Science to
EngineeringBy HAL R. VARIAN
CONOMISTS think of
themselves as scientists; their primary goal is to understand how the economy
works. But scientific knowledge is not their only goal; as a famous
such as those of the
Hutterites)? If so, they might shed some further light on the conditions
necessary for tenure systems and lifetime employment policies.
Stock market shock explainedPhysicists
model recent trading frenzy. 1 October
on or food increases at a double digit annual
, but I don't
think it is in print anymore.)
their recommendations are.
Free-riding might be dealt with by worker peer groups and by closely tying
worker pay to the profitability of the profit center.
Title: China Will Soon Be Second Only To The US
China Will Soon Be Second Only To The
USThe Korea Herald8-4-2
Over the coming decades, China will
in some countries prefer policies which are economically
irrational? How would either a businessman a priori or an economist after
the fact go about estimating or determining which policy was more
the point. The few pay toilets that I have seen in my life
were in the very places you describe as 'competitors.' Why don't
McDonald's, convenience stores, etc., make their restrooms pay their own
way? Why pay for the maintenance out of their profits?
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