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Global Stocks Down; Jackson Hole Central Bankers Meeting In Focus

World stock markets were mostly weaker overnight. The post Global Stocks Down; Jackson Hole Central Bankers Meeting In Focus was originally published at The Wall Street Examiner. Follow the money!

A better centrism

Several readers have complained about my criticism of centrism. “Your idea of centrism is not mine” they say. To which I say: now you know how I feel when rightists claim that centrally planned economies discredit socialism; they are attacking...

Foreign Banks’ Have a Greater Impact on This Bull Market Than You May Think

The Fed and the US Treasury are the 800 pound gorillas of the US stock and bond markets. Their actions have largely determined the direction of the markets for the past 15 years.  That's why I developed the LAMPP indicator to track their combined impact, and why it has worked so well. Show More Summary

John McWhorter on the Evolution of Language and Words on the Move

How did bad come to mean good? Why is Shakespeare so hard to understand? Is there anything good about "like" and "you know?" Author and professor John McWhorter of Columbia University talks with EconTalk host Russ Roberts about the unplanned ways that English speakers create English, an example of emergent order. Show More Summary

The Showdown Over How We Define Fringe Views in America

Which ideas are beyond the pale? And who gets to decide? President Trump has a big role to play.

Life’s a Pitch

Another sign of economic insecurity: the pitch economy, where competition becomes more and more degrading.

What underrated idea or invention most shaped the modern economy?

It’s been such fun working on the radio series and book Fifty Things That Made the Modern Economy – but one of the frustrations was all the fascinating ideas, inventions and stories that I couldn’t squeeze into the book. I get another bite of the cherry now: the BBC is inviting suggestions for a special episode: one […]

Another Way the Rich Preserve Their Advantage: Grade Inflation in Private Schools

Private school grade inflation is a small but nevertheless telling factor in how class mobility has fallen in the US.

Wolf Richter: NAFTA Negotiations Start in Secrecy, despite Fake Promises of Transparency. Lobbying Heats Up

Lambert here: Of course the negotiations are secret. And of course the national sovereignty-destroying Investor State Dispute Settlement (ISDS) system isn’t up for discussion. For those not up to speed on ISDS, here’s a sampling of NC posts (mostly about TPP, but ISDS is ISDS, whether the trade agreement under discussion is TPP or NAFTA. […]

Market Threatens Major Trendline

The market is not threatening to break a major trendline. Here’s what this means for the short term, intermediate, and long term outlooks. Also, we’re peeling a few longs off the daily trades list and adding a few more shorts. Market...Show More Summary

A Reason—a Small Reason, But a Reason—Why the Quality of Republican Policy Governance in America Has Fallen So Low

On Twitter : The hard-working and intelligent Jim Tankersley sends me to: >Reihan Salam : "The best 'Why I'm running' statement I've ever read from a GOP candidate": Randy Boyd: Why I'm Running. But Boyd is a joke: Boyd's Goal #1: >Complete the Drive to 55... Show More Summary

Sunday Night Futures

Weekend:• Schedule for Week of Aug 20, 2017Monday:• At 8:30 AM ET, the Chicago Fed National Activity Index for July. This is a composite index of other data.From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 futures are up 2,Show More Summary

The new spring of artificial intelligence: A few early economics

Artificial intelligence has been around since the 1950s, and has gone through many cycles of hype and ‘winters’. Based on a survey of senior executives from over 3,000 companies in ten countries, this column describes how artificial intelligence is experiencing a new spring and is here to stay. Show More Summary

How to Remove Trump

With Republicans controlling both houses of Congress, it’s unlikely Trump will be impeached or...

California And Maryland Lead The Nation In Mortgage Fraud Risk Correlation (San Francisco, Baltimore and San Diego Lead)

According to CoreLogic, California and Maryland are the states that are most highly correlated with fraud risk (and are the areas that will be the best predictors of nationwide mortgage fraud). The post California And Maryland Lead The...Show More Summary


Why are profit margins persistently high? With decent earnings this quarter, corporate profits as a % of GDP will approach (maybe exceed) 10% again. That is abnormally high compared to the period 1960 to 2000.  Margins actually started...Show More Summary

All That Glitters Is Not Gold: A Parable

(August 20, 2017 07:37 PM, by Scott Sumner) Atlantis is on the gold standard. The unit of account is called the "dollar" and it's defined as one gram of gold. Atlantis has a state-owned gold mine with a monopoly on gold production, near limitless reserves, and a very... (0 COMMENTS)

Little-Watched Non-Employment Index Confirms Strength of Job Market Recovery

As the Fed hesitates over the pace of further monetary tightening, some critics say that standard unemployment data from the Bureau of Labor Statistics (BLS) overstate the strength of the recovery. By focusing on the number of employed...Show More Summary

How Social Is Reason?

In their book The Enigma of Reason, out last April, Hugo Mercier and Dan Sperber argue that humans, and only humans, have a brain module that handles abstract reasoning: Reason is indeed [a] specialized [module of inference]; it draws interruptive … Continue reading ?

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