The September 2010 unemployment rates by state are out. Not much change. As for Michigan, we continue to just barely inch our way in a positive direction, coming in at a 13.0%. California is creeping on Michigan with a 12.4% rate, while Nevada continues to be a black hole for employment. This is not really … Continue reading State Unemployment Rate
One of the economic theories that dominated a mainstream economic theory during the last few decades is Efficient Markets Hypothesis. Essentially, an important part of the concept is that asset prices, such as stock prices on the stock exchange, accurately reflect all available information about the future earnings of the firm. Further, it implies that … Continue reading RIP: Efficient Markets Hypothesis – 70% of stock trades last 11 seconds or less
In the macro econ textbooks, the mainstream explanation for money creation is the story of fractional reserve banking where reserves limit the amount of loans made. In the traditional theory, the central bank (The Fed in U.S.) controls the amount of reserves banks have through either reserve reqmts or open-market operations. Commercial banks are supposedly … Continue reading Excess Bank Reserves: Theory vs. Reality
Where are the foreclosures?
Continuing a series to help voters and everybody else cut through the nonsense, lies, garbage, and con games that has become American electoral campaigns – at least with respect to economics. The claim up for consideration now is the claim that by cutting taxes now (particularly for the wealthy, very high income earners, capital income … Continue reading The Election Campaign Con Game: “Tax Cuts Pay for Themselves”
Here's a series of posts in the next couple days to try to help voters and everybody else cut through the nonsense, lies, garbage, and con games that has become American electoral campaigns - at least with respect to economics. A lot of electoral campaigns have increasingly come to resemble common con games such as … Continue reading The Election Campaign Con Game: “Cut the Deficit”