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Ah the French

France is traveling the same road that Greece, Spain, and some other European countries followed years before. When the French economy begins to collapse I doubt very much that the German government will bail them out. Continue Reading →

Jon Corzine Will Get Away With It With a Little Help From His Friends

Ms. O’Brien declined to cooperate with the investigation without receiving immunity from criminal prosecution. But the government is hesitating to grant her request, according to the people close to the case, fearing that doing so would set a bad example for future investigations. Continue Reading →

Regulatory Overreach, SEC Edition

Talk about overreach, this is a moon shot. Sadly, with the current administration in Washington, D.C., I don’t see relief from this kind of stupidity any time soon. Continue Reading →

Meta-Analysis, the Election, and 538

It’s made even worse this year by the non-response rate to polls, hovering near 90 percent. That means for every ten calls a pollster makes, they get one response. So much for the “random sample” assumption. Continue Reading →

Algebra is Hard, So Why Bother?

It’s true that students in Finland, South Korea and Canada score better on mathematics tests. But it’s their perseverance, not their classroom algebra, that fits them for demanding jobs.

My first reaction to this is “What the HELL?!?!?” That’s a logic test right there, in two sentences. Unpacking it, however, should be A) another show, and B) grounds for Hacker’s de-emeritification. Continue Reading →

Paul Krugman: Return Your Nobel Prize

Krugman’s argument is that by raising the inflation target, nominal interest rates would be higher. This, he proposes, would give central banks more room to reduce interest rates to stimulate the economy.
Unfortunately, Prof. Krugman has made an error that should make him blush. It is the real interest rate, not the nominal interest rate, that affects most economic activity Continue Reading →

Will MF Global Get Away With It?

For those who have been asleep for the last six months, MF Global collapsed after making a highly leveraged (40:1) bet on European currencies. Mr. Corzine was the CEO who developed this great “strategy.” No problem so far. But there’s the small matter of $1.6 billion missing from supposedly segregated customer accounts. According to Mr. Nocera, that’s 25% of the total balance in customer accounts at MF Global. Continue Reading →

Welcome to the Real World, Prof. Mankiw

“… So would reining in the National Labor Relations Board; its decision to block Boeing from opening a nonunion plant in South Carolina may have been hailed by organized labor, but it surely did not hearten investors.”

So would clarifying the 600+ regulations required by ObamaCare and the Dodd-Frank financial reregulation bill. Continue Reading →