Is Wall Street rigged? That’s what Michael Lewis says. I’m offering space in this blog to anyone who would like to comment on Mr. Lewis’s book (“Flash Boys”). There are only a few rules:
The Russians did it. Their holdings were large enough and the timing is too good to be a coincidence. I realize I am committing a cum hoc ergo propter hoc fallacy. Go find the data to convince me I’m wrong.
My advice: buy canned food now. And plant that vegetable garden.
It’s not clear how a 20-ounce cup can hold only 16 ounces of beer [sic] (or perhaps a 16-ounce cup can hold 20). But 16 ounces for $4 amounts to 25 cents an ounce, while 24 ounces for $7 comes to more than 29 cents an ounce, and 20 ounces for $7 is a whopping 35 cents an ounce. … It’s hard to see how that could add up to $10,000 in actual damages, but math doesn’t seem to be the plaintiffs’ strong suit.
I was promised that if I let Amazon keep $x of my tax refund they would give me a gift card for 1.10 x $x.
There are problems at Staples, but they begin with the online ordering system. Closing 225 stores does nothing to solve the real problem. I know it will be quite a while before I shop at Staples.com again.
After their previous February 9 editorial on the same subject I sent the editors a long e-mail citing the Neumark, Salas, and Wascher paper and pointing out that this paper refutes both of the studies — including the one cited above.
Scarce goods and services (pretty much anything with a price) must be rationed somehow. Letting the price of a good adjust takes care of the problem automatically. If the price is below equilibrium, quantity demanded will exceed quantity supplied. The price will rise until the two quantities are equal.
Kind of detracts from the intended support for Bitcoins.
Gene Sperling is the chief White House economic adviser. I’ve long suspected that people who go to work in Washington, D.C., are required to have half their brains removed when they cross the beltway. This pretty much confirms that hypothesis.