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'Does Monopoly Power Cause Inflation? (1968 and all that)'

Nick Rowe: Does monopoly power cause inflation? (1968 and all that): Here's a question for you: Suppose there is a permanent increase in monopoly power across the economy (either firms having more monopoly power in output markets, or unions...



Perry Says Unemployment Rate is Manipulated

Rick Perry told a gathering of the Republican Jewish Coalition that they couldn’t trust the official unemployment rate coming out of Washington, the Huffington Post reports. Said Perry: “It’s been massaged, it’s...



Prospects for Syriza

A day after the Greek elections, and we are all in speculation mode.  Here is what I’m thinking.Greece faces two short-term financial obstacles, service on its outstanding sovereign debt and backstopping of its financial sector, and the...



Dutch Central Bank President Cites "Financial Bubbles", Voices Strong Opposition to QE in TV Interview; Death by 1,000 Pin Pricks

Mario Draghi has strong opposition to his QE program from two sources: German central bank president Jens Weidmann and Dutch central Bank president Klaas Knot. In a television interview on Sunday, Dutch Central Bank Head Says He Doesn’t Support ECB...



'Nominate A Qualified Undersecretary Of Domestic Finance Now'

This is from Simon Johnson (I didn't follow the debate over the qualifications of Antonio Weiss, the administration's nominee for Undersecretary for Domestic Finance, as closely as I should have, so I don't have much to say about...



Did the Keynesians Get It Wrong in Predicting a Recession in 2013?

I have had several readers send me a blogpost from Scott Sumner saying that the Keynesians have been dishonest in not owning up to the fact that they were wrong in predicting a recession in 2013. The argument is that supposed us Keynesian types all said...



Alwaleed: Oil will never hit $100 again

Saudi Prince Alwaleed said the world will never again see triple-digit oil, but that the Saudis and OPEC will not cut...



Winklevoss twins plan to launch new US-based bitcoin exchange

The Winklevoss twins aren't done with bitcoin yet. Since 2012, the pair so far has invested millions in the cryptocurrency, launched the WinkDex bitcoin price monitor and are still trying...



This Is The Beginning Of The End For The Euro



Tesla stock to stay volatile: Analyst

Investors in the electric carmaker "have to go along for that ride" in volatility, said Adam Jonas of Morgan...



What’s the point of the margin of error?

So . . . the scheduled debate on using margin of error with non-probability panels never happened. We got it started but there was some problem with the webinar software and nobody put the participants could hear anything. The 5 minutes of conversation...



Hedge Fund News: Carl Icahn, Jeffrey Smith, Ray Dalio

Icahn: Oil Will Go Lower, Saudi Arabia Blindsiding The World (CNBC) The price of oil will go lower as supply and demand remain unbalanced, activist investor Carl Icahn said Thursday. Icahn, who spoke with CNBC’s “Fast Money: Halftime...



Paging Robert Burns

O wad some Pow'r the giftie gie us yada...



10 Thoughts Distracting Davos Attendees from Meditating

The World Economic Forum’s annual meeting is now taking place in Davos, Switzerland, as it does every year. In addition to talk of world finance/domination, this year attending business gurus, policymakers, and half-interested celebrities are...



Links for 01-22-15

For The Love Of Capital Income - Paul Krugman Optimizing optimization algorithms - MIT News It’s the Institutions, Stupid! - Gloomy European Economist Unified Growth Theory is not the Enemy - Growth Economics Bitcoins, Gold Bugs and Money - Noah...



CNN to Produce Political Game Show...

CNN to Produce Political Game Show...(Second column, 10th story, link) ...



Republican Senators Finally Admit That Climate Change Is Not a Hoax

The Senate considered three non-binding resolutions on Wednesday about whether they accept that climate change is real. One amendment from Senator Sheldon Whitehouse, a...



Hedge Fund Manager Sends Investors An 'I'm Sorry' Letter For Losing All But $200,000 Of The Firm's Money

Hedge fund manager Owen Li sent a letter to his investors apologizing for losing all but $200,000 of the fund's capital by acting "overzealously," CNBC.com's Lawrence Delevingne reports. Li, who previously worked at convicted...



Hedge Fund News: Paul Singer, Stanley Druckenmiller, Alan Howard

Paul Singer: ‘Cushion to Withstand Risks Is Very Low’ (CNBC) Paul Singer thinks the recent dramatic move in the Swiss franc—and resulting losses—shows just how exposed most investors are to market risk. “Given...



It’s something of a miracle that gas is only $2 per gallon and cheaper than any other liquid consumers buy

ProductCost Per GallonHP Printer Ink$4,500Nyquil$107.52Premium Vodka$76.80Honey$46.72Hair Gel$44.80Pancake Syrup$32.26Red Bull$28.00Windex$23.81Real Lemon Juice$22.91Soy Sauce$22.66Chicken Noodle Soup$21.25Mouthwash$19.65Tide Laundry Detergent$18.18Dawn...



NETFLIX expanding into hotels...

NETFLIX expanding into hotels...(Second column, 19th story, link) ...



The Chinese money supply

Derek Scissors reports: Broad money M2 breached $20tn at the end of December, a staggering 70 per cent larger than in the US, where monetary policy has hardly been tight. There’s a tremendous amount of liquidity, the problem is no one is using it....



Greenlight Capital Q4 2014 Letter To Investors

Below is a copy of Greenlight Capital’s Q4 2014 letter to investors, a copy of which was obtained by ValueWalk. Check back soon for further analysis. Also see Apple, Micron, Sune Propel Greenlight To 9% Return In 2014 Dear Partner: The...



Starboard Value Intensifies Demand For Staples-Office Depot Merger

Starboard Value LP, the activist hedge fund headed by Jeffrey Smith is planning to intensify its demand for a Staples-Office Depot merger. Last December, Starboard Value boosted its stakes in Staples to 6% and Office Depot to approximately 10%. At the...



PAPER: Jeb Bush's role at firm grew despite signs of trouble...

PAPER: Jeb Bush's role at firm grew despite signs of trouble...(Third column, 16th story, link)Related stories:Clinton developing 'smarter, more relevant' campaign for '16...Trump states case for becoming next president... ...



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'Does Monopoly Power Cause Inflation? (1968 and all that)'

Nick Rowe: Does monopoly power cause inflation? (1968 and all that): Here's a question for you: Suppose there is a permanent increase in monopoly power across the economy (either firms having more monopoly power in output markets, or unions...



Winklevoss twins plan to launch new US-based bitcoin exchange

The Winklevoss twins aren't done with bitcoin yet. Since 2012, the pair so far has invested millions in the cryptocurrency, launched the WinkDex bitcoin price monitor and are still trying...



Hedge Fund Manager Sends Investors An 'I'm Sorry' Letter For Losing All But $200,000 Of The Firm's Money

Hedge fund manager Owen Li sent a letter to his investors apologizing for losing all but $200,000 of the fund's capital by acting "overzealously," CNBC.com's Lawrence Delevingne reports. Li, who previously worked at convicted...



Dutch Central Bank President Cites "Financial Bubbles", Voices Strong Opposition to QE in TV Interview; Death by 1,000 Pin Pricks

Mario Draghi has strong opposition to his QE program from two sources: German central bank president Jens Weidmann and Dutch central Bank president Klaas Knot. In a television interview on Sunday, Dutch Central Bank Head Says He Doesn’t Support ECB...



Alwaleed: Oil will never hit $100 again

Saudi Prince Alwaleed said the world will never again see triple-digit oil, but that the Saudis and OPEC will not cut...



This Is The Beginning Of The End For The Euro



Tesla stock to stay volatile: Analyst

Investors in the electric carmaker "have to go along for that ride" in volatility, said Adam Jonas of Morgan...



Oil Man Harold Hamm's Ex-wife Seeking To Cash Divorce Check: Source

NEW YORK (Reuters) - Sue Ann Arnall, the ex-wife of Oklahoma oil magnate Harold Hamm, is seeking to cash a $975 million handwritten divorce check just days after earlier rejecting the payment which was ordered by a court in November, a source familiar...



'Orthodoxy, Heterodoxy, and Ideology'

Paul Krugman: Orthodoxy, Heterodoxy, and Ideology: Many economists responded badly to the economic crisis. And there’s a lot wrong with mainstream economic analysis. But how closely are these two assertions related? Not as much as you might think....



Wonkblog: Pet stores are pulling Chinese-made dog treats after years of mystery dog illnesses and deaths

Petco, one of the country's largest pet retailers, announced on Monday that it has pulled all Chinese-made dog and cat treats from its shelves, citing concerns that the foreign made pet foods could be linked to a series of yet...



Suspicious Nonsense on Trade Agreements

What's good for the US Chamber of Commerce is probably bad for...



Links for 01-18-15

Opposites Day - Paul Krugman Is a Climate Disaster Inevitable? - NYTimes.com Sokrates and Friends in Davos - Brad DeLong The Hemingway Law of Motion: Gradually, then Suddenly - Tim Taylor Negatively-valued (red) money in an OLG model - Nick Rowe Helping...



Links for 01-06-15

Thinking About International Bond Yields - Paul Krugman I Do Believe Jeffrey Sachs Has Lost His Mind - Brad DeLong Permanent QE and helicopter money - Jérémie Cohen-Setton The ECB's Not-So-Sweet 16th - Cecchetti &...



Swiss franc jumps as euro ceiling ends

Switzerland's franc soared by almost 30 percent on Thursday after the Swiss National Bank abandoned its three-year old cap against the...



'Nominate A Qualified Undersecretary Of Domestic Finance Now'

This is from Simon Johnson (I didn't follow the debate over the qualifications of Antonio Weiss, the administration's nominee for Undersecretary for Domestic Finance, as closely as I should have, so I don't have much to say about...



Gunfire erupts near Paris magazine

Gunfire erupted in central Paris near the offices of satirical news magazine Charlie Hebdo, police...



CNN to Produce Political Game Show...

CNN to Produce Political Game Show...(Second column, 10th story, link) ...



Over at Project Syndicate: Try Everything

Over at Project Syndicate: Try Everything: When it became clear in late 2008 that the orgy of deregulation coupled with global imbalances was confronting the global economy with a shock at least as dangerous as the Great Crash that had initiated the...



Did the Keynesians Get It Wrong in Predicting a Recession in 2013?

I have had several readers send me a blogpost from Scott Sumner saying that the Keynesians have been dishonest in not owning up to the fact that they were wrong in predicting a recession in 2013. The argument is that supposed us Keynesian types all said...



It’s something of a miracle that gas is only $2 per gallon and cheaper than any other liquid consumers buy

ProductCost Per GallonHP Printer Ink$4,500Nyquil$107.52Premium Vodka$76.80Honey$46.72Hair Gel$44.80Pancake Syrup$32.26Red Bull$28.00Windex$23.81Real Lemon Juice$22.91Soy Sauce$22.66Chicken Noodle Soup$21.25Mouthwash$19.65Tide Laundry Detergent$18.18Dawn...