The September Consumer Price Index numbers are out. Inflation is really a sustained general increase in the level of all prices. Since the price index itself can be rather noisy, varying a lot from month-to-month, many economists use some different techniques to smooth out the trend to see what the "sustained" action really is. Three … Continue reading CPI: Deflation Watch
Day: October 16, 2010
Distribution of Wealth: Reality vs. Ignorance
Americans of all persuasions, right and left, progressive and conservative, apparently actually want the same distribution of wealth. We want to be like Sweden. Yes, the "socialist" Sweden. But, we don't know that and we don't agree on policies because we don't accurately perceive what the current distribution of wealth. A fascinating study by behavioral … Continue reading Distribution of Wealth: Reality vs. Ignorance
more Bankers: FAIL
Yves Smith at naked Capitalism tells us of a case where Wells Fargo Bank (which acquired Wachovia 2 years ago), foreclosed and evicted a homeowner for failing to make payments. Then Wells sold the foreclosed house at auction to a new owner. Then Wells attempted to foreclose on the new owner for alleged failure to … Continue reading more Bankers: FAIL
Bankers: FAIL
A quote from Jamie Dimon, the CEO of JP Morgan Chase this week (from the Wall Street Journal via Yves Smith at Naked Capitalism): “We’re not evicting people who deserve to stay in their house,” James Dimon, J.P. Morgan chief executive, told analysts Wednesday. Now let's turn to the Lansing State Journal reporting the day … Continue reading Bankers: FAIL
Leadership FAIL
Leadership is not repeating your opposition's talking points, especially when they are not true and will be destructive to the economy at this time. It is a false analogy to say government is just like a household or a firm. It is not. It doesn't function that way. Further, we cannot reduce unemployment by refusing … Continue reading Leadership FAIL
EconProph 