Monthly Archives: July 2009

Guest Post: Is the Problem the Models or the Modelers?

Submitted by Richard Alford, a former economist at the New York Fed. Since them, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side. The fault, dear Brutus, is not in our model, but in ourselves–apologies to W Shakespeare The economics profession […]

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Book Countdown: 3/2/10!

Absent major unexpected developments, the book is due to be published March 2, 2010, or 3/2/10, which strikes me as auspicious. I hate the need for self promotion, and I hope reader will take this sort of thing in stride. But if I don’t do it, only my publisher will. Actually, Palgrave is treating this […]

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Links 7/27/09

Jupiter: Our Cosmic Protector? New York Times Mourning the Death of Handwriting Time, This is great. I have terrible manual dexterity, always got Ds in penmanship no matter how hard I tried, so I am delighted to see that standards have fallen so much that my illegible scrawl is the new normal. No Doubts: Women […]

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Iceland Proves That in a Financial Crisis, Breaking Glass and Trashing Currency is a Good Remedy

The headline exaggerates, but not by much. Back in April, a Vanity Fair story about Iceland’s remarkable financial blow up was grist for a Vanity Fair story by Michael Lewis, “Wall Street on the Tundra“. The quick version is that Icelandic men were not merely reckless, that is such a common male pathology as to […]

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Link 7/26/09

Signs of life: Mammal tracks from 190 million years ago found at Dinosaur National Monument Associated Press (hat tip reader John D) New Zealand Tree Stuck in a Time Warp ScienceNow Alan Blinder Was Out of the Country During the Housing Bubble Dean Baker June Exports Sustain Upward Momentum But Surplus Employment Rockets Japan Economy […]

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Guest Post: On Archetypal Financial Crisis Plot Lines

Dear readers, despite the near tsunami of titles on the financial crisis, we have no new reader submissions this week but have several we expect to come in shortly, all ones I think readers will enjoy a great deal. In the meantime, Satyajit Das (of Traders, Guns & Money) graciously offered to let us post […]

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LInks 7/25/09

People steal meat from wild lions BBC Pigeons As Art Critics? Pigeons, Like Humans, Use Color And Pattern Cues To Evaluate Paintings Science News (hat tip reader John D). No wonder they hang out near museums. Wall ‘could stop desert spread BBC (hat tip reader John D) Hacker Says iPhone 3GS Encryption Is ‘Useless’ for […]

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Citi Trader, Who Made $100 Million Last Year, Insists on Keeping His Deal in Place

On the surface, the particulars of this case seem simple. A Citigroup commodities trader who says he has a contract that could yield him a $100 million payment this year is crossing swords with the new Treasury pay czar, Kenneth Feinberg. The Wall Street Journal story portrays the pay deal for the trader, Andrew Hall, […]

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Spain: Bleak forecast puts unemployment at 22% in 2010

Submitted by Edward Harrison of Credit Writedowns. Citigroup has just released a forecast which is very troubling in regards to employment and growth in the Spanish economy.  With unemployment already having hit 17.9%, Citigroup expects layoffs to increase this to 22% in 2010.  Below is my translation of the Spanish-language article in Finanzas. The stabilization […]

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Links 7/24/09

In Her Majesty’s Service, Loyal Minion Courts the Queen’s Swans on Thames Wall Street Journal Hot secret behind toucan’s bill BBC Chinese Scientists Reprogram Cells to Create Mice Wall Street Journal (hat tip DoctoRx) Humans Glow in Visible Light LiveScience Amex, Capital One card losses dampen results Reuters Panting Dog. BreakingViews. On Cerberus’ woes. Couldn’t […]

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