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Summer Readings

Here are some of the books I have read this summer, all recommended. Nobody's Fool by Richard Russo Success and Luck by Robert Frank The Upside of Inequality by Edward Conard Hillbilly Elegy by J.D. Vance

The Fed and Lehman Brothers

Much of the damage from the Great Recession is attributed to the Federal Reserve’s failure to rescue Lehman Brothers when it hit troubled waters in September 2008. It has been argued that the Fed’s decision was based on legal constraints. Show More Summary

Eurozone stability still under threat of a ‘bad shock’

Some economists are approaching a consensus that the Eurozone’s financial architecture is now resilient enough to withstand another shock similar to that of 2010-11. This column argues that such a view may be overly optimistic. Economic...Show More Summary

Precision versus bias in multiple choice exams

Guessing answers can undermine the effectiveness of multiple choice exams. Negative marking, in which incorrect answers are penalised, can limit guessing, but may bias the test against risk-averse test takers. Using Turkish university...Show More Summary

2016 Senate Election Forecast

The Upshot’s Senate election forecast for 2016, updated daily with the latest polls.

The Fall 2016 Public Choice Center Seminar Series

(August 24, 2016 12:02 AM, by Bryan Caplan) This academic year, I'm in charge of the Public Choice Center Seminar series. Seminars are normally on Wednesdays from 12:00-1:15 PM, and are open to the public. Since I am not a fan of actually-existing seminars, I'm experimenting with a... (0 COMMENTS)

David Ignatius Seems Confused About China and Indonesia

David Ignatius used his WaPo column to express his concern that Australia will opt to align itself more closely with China at the expense of its ties with the United States. In making the argument that other regional powers may provide...Show More Summary

“The dollar will go down in value and inflation will start rearing its ugly head,”

So spake Donald J. Trump, September 13, 2012. Here’s what actually happened. Figure 1: Log real value of US dollar against broad basket of currencies, 2012M09=0 (blue, left scale), and year on year CPI-all inflation, % (red, right scale). Source: Federal Reserve Board, BLS and author’s calculations. If it’s not obvious, these predictions did not […]

Ex-pharma CEO Martin Shkreli weighs in on skyrocketing EpiPen prices

Price for life-saving EpiPens has gone up by nearly 500 percent since 2009, and former head of Turing Pharmaceuticals Martin Shkreli? shares his take

Buy When There’s Blood In The Streets – Part 2 of Not The Best Time In History To Invest In Real Estate

Yesterday I began to show  why now is not the best time in history to invest in real estate, rebutting a column posted August 22 at Dow Jones Marketwatch. In fact, the headline This is the best time in history to invest in real estate...Show More Summary

It’s Time to Bring More Realistic Models of Human Behavior into Economic Policy and Regulation

David Halpern at Bank Underground: It’s time to bring more realistic models of human behaviour into economic policy and regulation: The Centre for Central Banking Studies recently hosted their annual Chief Economists Workshop, whose theme was “What can policymakers learn...

The U.S. Government Is Buying 11 Million Pounds of Cheese

Behold: cheese mountains. No longer mere tasty figments of your most sumptuous daydreams, giant stockpiles of cheese have been amassing all over the country for months. And now, the U.S. government is going to buy them. According to a press release from the U.S. Show More Summary

Wednesday: Existing Home Sales

Note: I'm in New York and posting will not be frequent (too much to do and see).Thanks to Joe Weisenthal for having me on Bloomberg's WDYM. And Barry Ritholtz on his MIB radio and podcast.Wednesday:At 7:00 AM ET, The Mortgage Bankers...Show More Summary

Liveblogging the American Revolution: August 24, 1778: General Orders,

George Washington: _[General Orders][]_: [General Orders]: http://founders.archives.gov/documents/Washington/03-16-02-0397 >Parole Framingham—C. Signs Fez—France. >Brigade returns of all the horses in each Regiment and by whom kept to be made out immediately and delivered in to the orderly Office by 12 ôClock tomorrow. Show More Summary

Liveblogging the Cold War: August 23, 1946: Eleanor Roosevelt

Eleanor Roosevelt: _[My Day][]_: [My Day]: https://www.gwu.edu/~erpapers/myday/displaydoc.cfm?_y=1946&_f=md000425 >NEW YORK, Thursday--None of us can help being worried and indignant over the shooting down of two of our unarmed transport planes which had wandered over the Yugoslav border. Conceding that there may be some hidden reason why our planes are forbidden to...

Liveblogging the American Revolution: August 22, 1778: Battle of Rhode Island

Wikipedia: _[Battle of Rhode Island][]_: [Battle of Rhode Island]: https://en.wikipedia.org/wiki/Battle_of_Rhode_Island >Since d'Estaing's fleet outnumbered Howe's, the French admiral, fearful that Howe would be further reinforced and eventually gain a numerical advantage, reboarded the French troops, and sailed out to do battle with Howe on August 10. As the two fleets...

Liveblogging the Cold War: August 21, 1946: The Marshall Mission to China

George C. Marshall: _[To Colonel Marshall S. Carter][]_: >August 21, 1946 Radio No. GOLD 1360. [Nanking, China] >Secret, Eyes Alone >Reference your WAR-97857.1 My view is as follows: situation critical in the extreme, small prospect for early termination of hostilities agreement—therefore likelihood great of spread of fighting into Jehol Province...

U.S. stocks notch modest gains just below records

Wall Street's advance follows a large increase in sales of new homes, with builders in particular getting a lift

Poor defendants say they face modern-day debtors' prison

Arkansas court accused of generating millions in revenue by illegally locking up people for failing to pay their debts

Surprise! New Home Sales Surge 12.37% To 654k SAAR, Back To 1995 Levels

New home sales surprised most analysts this morning. The post Surprise! New Home Sales Surge 12.37% To 654k SAAR, Back To 1995 Levels was originally published at The Wall Street Examiner. Follow the money!

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