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A simple question about Walras Law

Inspired by Free Radical's post, I think I have figured out a simpler and clearer way to say what I want to say about Walras' Law. Ask yourself the following question: Q. Assume an economy where there are (say) 7...

Saturday beer post

You'd be hard-pressed to talk me into a mail or telephone survey these days. From the Chronicle of Higher Education:... a host of researchers, spurred by the rising cost of telephone polls and plummeting participation rates, are pushing to use a new generation of online-only surveys for their research....

Unofficial Problem Bank list declines to 439 Institutions

This is an unofficial list of Problem Banks compiled only from public sources.Here is the unofficial problem bank list for Aug 29, 2014. Changes and comments from surferdude808: As expected, the FDIC released q2 industry results and provided an update on its latest enforcement action activity. Show More Summary

How did the labor market fare in August?

Investors will return from the long holiday weekend eagerly waiting to see whether the August jobs report will show continued progress for the nation's labor market. Although July's results were weaker than expected, this year the economy has added 1.6 million jobs, or an average of 230,000 per month. Show More Summary

MoneyWatch: Investors look for upbeat figures to go on; Toys ''R'' Us quarter not so fun

Investors are looking ahead to see if recent upbeat figures can extend into September. Also, it's been less than fun and games for Toys ''R'' Us in its second quarter. Karina Mitchell reports on the day's top MoneyWatch headlines.

Why we need a fiscal backstop

In the aftermath of the financial crisis, governments have been reducing their potential exposures to the banking system. This column argues that a fiscal backstop remains necessary for a banking system, contrary to what many policymakers claim. Show More Summary

What is driving the ‘African growth miracle’?

Some argue that growth across Africa is fundamentally a result of rising commodity prices and that if these prices were to collapse, so too would Africa’s growth rates. This column documents substantial shifts in the occupational structure...Show More Summary

Structural reform lowers country risk

Countries facing rising risk premiums on their debt have recognised the need for structural reform, but some politicians have argued that austerity is necessary in the short run because structural reform takes too long. This column argues...Show More Summary

Europe’s Russian connections

The conflict in Ukraine and the sanctions against Russia have already affected the Russian financial markets. This column discusses the repercussions for the rest of Europe of possible disruptions in the trade and financial flows with Russia. Show More Summary

10 celebrity homes on sale

These lux homes belong on the A-list alongside their famous owners

Trade, The Current/Capital Account, and the Value of the Currency

To understand trade dynamics in the modern world we must appreciate the financial dimension, which modern economists do not.

Europe Is Not “Coming Together” in Response to the Euro Crisis. Why?

Why is Europe re-nationalizing the link between banks and governments? Why has the crisis failed to produce a Hamilton or an FDR?

Moral Dilemma: Should a Libertarian Who Does Not Need Food Stamps, but Qualifies for Them, Take Them?

Here's the moral dilemma of the day:Suppose you are a staunch Libertarian, doing reasonably well and you don't need food stamps. Yet, under perverse rules, you qualify for them. Should you take them? Reader Steven faces that exact question. Show More Summary

Noted for Your Afternoon Procrastination for August 29, 2014

Over at [Equitable Growth](http://EquitableGrowth.org)--[The Equitablog](http://equitablegrowth.org/blog) A Note on the Core PCE Inflation Phillips Curve: Thursday Focus/The Honest Broker for the Week of August 30, 2014 - Washington...Show More Summary

Merrill and Goldman Forecasts for August Non-Farm Payrolls

The August employment report will be released next Friday, September 5th and the consensus is that 210 thousand payroll jobs were added in August. Here are two forecasts:From economist Kris Dawsey at Goldman Sachs: Employment indicators have strengthened a bit in August vs. Show More Summary

Wisconsin Forecasted to Lag Further Behind Minnesota

And Kansas travels its own path Bruce Bartlett brings my attention to this article noting Minnesota’s economic performance. This reminded me to check on the Philadelphia Fed’s forecast for the next six months, released earlier today. What’s interesting to me is the fact the cumulative growth gap between Minnesota and Wisconsin (relative to 2011M01) is […]

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