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rjs
denizen of a rural NE Ohio swamp
unencumbered by education, affiliations, beliefs or agenda; im not advocating anything
Recent Activity
i've just stopped reading Krugman altogether since he became a full time shill...and i am, btw, subscribed to his posts thru my feedreader...
Toggle Commented Apr 2, 2016 on Links for 04-02-16 at Economist's View
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i wouldnt say hes the inventor; obviously hes been a promoter, but Randy Wray would tell you his thinking originates with the chartalists and Minsky, and i dont think Jamie Galbraith would include himself among Moslers followers, either...
Toggle Commented Mar 17, 2016 on 'MMT: Not so Modern' at Economist's View
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if you're talking about Warren Mosler, MMT was around the blogosphere long before he ran for Senate..
Toggle Commented Mar 17, 2016 on 'MMT: Not so Modern' at Economist's View
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if you're talking about Warren Mosler, MMT was around the blogosphere long before he ran for Senate..
Toggle Commented Mar 17, 2016 on 'MMT: Not so Modern' at Economist's View
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if you're talking about Warren Mosler, MMT was around the blogosphere long before he ran for Senate..
Toggle Commented Mar 17, 2016 on 'MMT: Not so Modern' at Economist's View
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"costing jobs" implies they were there to begin with...but never before in the history of the US oil and gas industry was there so little drilling going on in the US than there was in the week just ended, and that includes the first boom of drilling in PA in 1860... http://www.economicpopulist.org/content/oil-rig-scorecard-us-drilling-all-time-low-saudis-near-their-high-5928
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Is weak U.S. wage growth all because of who’s getting jobs? from Equitable Growth asserts: {retiring} older workers, who are disproportionately higher-wage earners, are no longer included in the average wage, which will push down measured average wage growth. At the same time, new full-time jobs are relatively low-wage jobs, that will also pull down measured wage growth. hasn't that always happened?
Toggle Commented Mar 11, 2016 on Links for 03-11-16 at Economist's View
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the state oil production number looks right, since i know off the top that US production has been around 9.1 million barrels per day the past month... but $40 a barrel isn't clear profit...in fact, most drillers are losing money at that price...
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the trouble is that Krugman, Krueger, Goolsbee, Romer, and Tyson are all from the old schools of economics, which they base their thinking on and have to support because their whole life hinges on it, just like Mankiw has to sell his textbooks, so they'll never understand the thinking that's behind Sanders proposals...the place they'd have to start over with is with Stephanie Kelton, Sanders chief economic advisor, and a leading proponent of MMT..
Toggle Commented Feb 18, 2016 on 'What Has the Wonks Worried' at Economist's View
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i regularly carry 50s because i'm still learning how to use a credit card...a year and a half ago i withdrew batches of big bills several times to pay the handman who was remodeling my bathroom, because he did not have a bank account where he could cash my checks... i cant believe that drugs dealers will quit dealing and terrorists will become peaceniks if we elimate the hundred dollar bill...
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the judge's decision not to do an autopsy, even though he hadn't seen the body, and to cremate his Catholic remains, will leave the conspiracy theory field wide open forever...the court has heard a lot of cases this year that they haven't ruled on; with a 4-4 tie, they're all thrown back to the appeals court decision...
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they may lower their costs to $20 a barrel, but they wont be close to what it costs the Saudis or Iraqis...the Saudis just drill a hole and they've got oil; US producers have to frack after they drill a hole, which costs 3 times as much as the drilling..
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you can't just change the entire page size? every weekend, when i proofread my mailed newsletters, i just use Zoom on the entire page so i can read what i wrote without using reading glasses; when i'm done, i switch back to 125% to view the inbox...
Toggle Commented Feb 12, 2016 on I can't read my email at Environmental Economics
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proof that Russia wants war: http://www.washingtonsblog.com/2015/03/proof-russia-iran-want-war-look-close-put-countries-military-bases.html (look how close they put their country to our military bases)
Toggle Commented Feb 9, 2016 on Links for 02-09-16 at Economist's View
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amazing. Tim Taylor wrote about the Russian economy without mentioning the international sactions that we imposed on them 2 years ago..
Toggle Commented Feb 9, 2016 on Links for 02-09-16 at Economist's View
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i've only used half the heat oil i normally would by this time of year..
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looks like you've led a whole generation of economics students astray...
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every couple of months we see articles on why GDP fails at this or that; for what GDP actually measures, see table 3: http://www.bea.gov/newsreleases/national/gdp/2015/pdf/gdp3q15_3rd.pdf why try to conflate it into anything more, just to knock it down? no one ascribes a higher purpose to measurements of business inventories or construction spending when those reports are released; why attach so much importance to a report that sums them together?
Toggle Commented Jan 28, 2016 on Links for 01-28-16 at Economist's View
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US production rose from around 5 million barrels per day in 2007 to around 9.2 million barrels per day now...global production has gradually climbed from 84 to 96 million barrels per day, with global growth in demand lagging that...net, the global surplus has been running at about 1.5 million barrels per day this year, with storage space running out, and now Iran will start exporting too...gonna be an interesting year...
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the thermostat is just a dummy...they always try to fool you into imagininng that you have some control over your environment...
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i find Zero Hedge useful in that they will occasionally discover something in the data that no one else has...in this case, Zero Hedge was accurately citing the inventory data, just as Mr Taylor does, but jumping to the wrong conclusion...
Toggle Commented Jan 1, 2016 on Links for 01-01-16 at Economist's View
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zero hedge and Mish have been ranting about the inventory to sales ratio all year, calling a recession...what has actually it’s pretty simple; there are considerably more sales of oil and oil products than there are of inventories, so when their price was cut in half, a lot of nominal sales were lost, but less so inventory, skewing the ratio… i responded to a similar thread in quite of bit of detail at Angry Bear last week, even exploring the inventory to sales ratio of several wholesale segments: http://angrybearblog.com/2015/12/inventories-sales-ratio.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Hzoh+%28angrybearblog.com%29 bottom line, one really can’t tell anything from looking at the nominal aggregates like Taylor does, especially where prices of some components are going in opposite directions…
Toggle Commented Jan 1, 2016 on Links for 01-01-16 at Economist's View
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Jodi, are you and other Senaca Lake people following the Aliso Canyon gas leak story? biggest gas storage site in California has been leaking since October, 100,000 pounds of methane per hour, it's being compared to the BP oil spill...wealthy suburbs of LA, including Porter Ranch, have been evacuated...they dont have a fix, say it will leak at least till a relief well is drilled this spring... a few links from this week: http://www.truth-out.org/news/item/34158-porter-ranch-methane-leak-does-not-bode-well-for-climate http://ecowatch.com/2015/12/22/erin-brockovich-porter-ranch/ http://www.zerohedge.com/news/2015-12-24/unstoppable-california-gas-leak-now-being-called-worst-catastrophe-bp-spill
the budget bill also has provisions preventing the IRS from going after political front groups masquerading as charities: http://wallstreetonparade.com/2015/12/right-wing-vendetta-legislated-into-law-in-new-omnibus-spending-bill/
Toggle Commented Dec 23, 2015 on Links for 12-23-15 at Economist's View
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