Risk Adjusted Work

by on February 1, 2017

One of the greatest shifts in our economy over the past few decades has been the steady rise of what we call contingent workers. These [more…]

Interest Rate Mania

by on October 29, 2015

People keep asking me about interest rates. I wish they would stop. The question always make me feel like mimicking Eugene Fama: rates are rates. [more…]

Automation and History

by on September 29, 2015

History always has something doesn't it?

Here is John Aziz writing at Pieria:
"So what does that mean today, as we get caught up in [more…]

Memoirs from Beyond the Tomb

by on July 14, 2015

Right at the end of his book called "Memoirs from Beyond the Tomb" Chateaubriand gives us a remarkable insight into our current troubles. I wonder [more…]

Employment Recovers

by on December 9, 2014

Just a very quick note regarding last week's employment numbers.

They were good. That's all we need to know. It's been a long time since [more…]

Signs of Life? Part 3

by on December 6, 2013

OK, let's end the week with one last optimistic hurrah. Today's employment report was pretty good. That's probably less enthusiasm than you will sense in [more…]

Signs of Life? Part 2

by on December 5, 2013

Yesterday's reports of economic strength have been followed by a couple of similar reports today. We are spoiled by good news. Well sort of.

The [more…]

After Bernanke

by on July 19, 2013

It is fairly well accepted now that Ben Bernanke will decide not to stay at the Fed next year when his current term is up. [more…]

Employment Numbers: Endless Drift

by on July 5, 2013

This morning we have been treated to an odd spectacle. Wall Street was very wrong about the number of jobs generated by the US economy [more…]

As You Were – Again

by on March 21, 2013

Today was one of those days. A flurry of new data about the economy all of which left us exactly where we were. I suppose [more…]