"It is easy to confuse what is with what ought to be, especially when what is has worked out in your favor."
- Tyrion Lannister

"Lannister. Baratheon. Stark. Tyrell. They're all just spokes on a wheel. This one's on top, then that's ones on top and on and on it spins, crushing those on the ground. I'm not going to stop the wheel. I'm going to break the wheel."

- Daenerys Targaryen


"The Lord of Light wants his enemies burned. The Drowned God wants them drowned. Why are all the gods such vicious cunts? Where's the God of Tits and Wine?"

- Tyrion Lannister


"The common people pray for rain, healthy children, and a summer that never ends. It is no matter to them if the high lords play their game of thrones, so long as they are left in peace. They never are."

- Jorah Mormont


"These bad people are what I'm good at. Out talking them. Out thinking them."

- Tyrion Lannister


"What happened? I think fundamentals were trumped by mechanics and, to a lesser extent, by demographics."

- Michael Barone

"If you want to know what God thinks of money, just look at the people he gave it to."
- Dorothy Parker

Thursday, April 10, 2014

Piketty list

Why We’re in a New Gilded Age by Paul Krugman (5.8.14 issue)

The short guide to Capital in the 21st Century by Matt Yglesias (4.8.14)

THOMAS PIKETTY UNSUCCESSFUL ATTEMPTED SMACKDOWN WATCH: I FIND MYSELF DISAPPOINTED BY THE USUALLY-RELIABLE JAMES GALBRAITH AND PETHOKOUKIS by DeLong (4.6.14)

Kapital for the Twenty-First Century? by James K. Galbraith (Spring 2014 issue)

The New Marxism, Part Two  by James Pethokoukis (3.31.14)

Piketty on Capital: A Footnote by Henry Farrell (4.5.14)

Capital in the 21 Century: Still Mired in the 19th (See correction) by Dean Baker (3.9.14 / 4.5.14)

Philip Pilkington: Misdirection – Galbraith on Thomas Piketty’s New Book on Capital (4.3.14)

The Top of the World: An ambitious study documents the long-term reign of the 1 percent by Doug Henwood (April/May 2014 issue)

Piketty's Inequality Story in Six Charts by John Cassidy (March 26, 2014)

Dialogue: Eleven (so Far) Worthwhile Reviews of and Reflections on Thomas Piketty’s “Capital in the Twenty-First Century”: Wednesday Focus: March 26, 2014 by DeLong (3.25.14)

Fed exit

Monetary policy after quantitative easing: The case for asset based 
reserve requirements (ABRR) by Thomas Palley

The Americans


AV Club reviews The Americans: " Arpanet"



Piketty

Why We’re in a New Gilded Age by Paul Krugman


Wednesday, April 09, 2014

Baker and trade

Krugman, Greider, and the Continuing Saga of Sustained Secular Stagnation by Dean Baker

OVER AT THE WASHINGTON CENTER FOR EQUITABLE GROWTH: IN WHICH I AM PERTURBED BY KENNETH ROGOFF'S EVEN-HANDED HIPPIE- AND AUSTERIAN-PUNCHING: EARLY THURSDAY FOCUS ON WEDNESDAY by DeLong

The Central Bank

What Is Going on with the Federal Reserve?: Watching an Ongoing Discussion by DeLong
With unemployment above and inflation below its formal targets, Why is the Federal Reserve talking about withdrawing stimulus? Why is it talking about moving to a regime in which it is no longer purchasing long-term securities as part of quantitative easing? And why is it forecasting that it will begin to increase interest rates six months after quantitative easing ends?

The Secstags

A Model of Secular Stagnation by Gauti Eggertsson Neil Mehrotray

Piketty

The short guide to Capital in the 21st Century by Matthew Yglesias

Monday, April 07, 2014

Krugman, DeLong and Baker on inflation and the 1970s

Are Investors Less Confused About Real and Nominal Interest Rates Than They Were 40 Years Ago? by Dean Baker

Thoma commenter anne writes: 
There were 2 characteristics of investment structure and understanding in the 1970s that have changed markedly since. 
As for bond portfolios, the concept of duration and how a constant duration bond portfolio can be used to control principle loss during a period of significantly rising interest rates was not developed till late in the 1970s. Bond portfolio managers know how to protect portfolios against increasing inflation or interest rates now. 
As for stock portfolios, there has been a significant change for well established companies in which stock buybacks are demanded by investment managers and accepted by corporate management as a way in which to increase stock prices when economic conditions such as increasing inflation or interest rates make for bear markets.

positive outlook

A Favorable Flow? by Jared Bernstein

Game of Thrones



AV Club reviews Game Of Thrones (Experts): “Two Swords”

AV Club reviews Game Of Thrones (newbies): “Two Swords”

Everyone's favorite Game of Thrones character is secretly George W. Bush by Zach Beauchamp (Vox.com)

Wrong. Wrong. Wrong. She's John Brown/Joan of Arc. No commenting system at Vox?

Piketty and capital

THOMAS PIKETTY UNSUCCESSFUL ATTEMPTED SMACKDOWN WATCH: I FIND MYSELF DISAPPOINTED BY THE USUALLY-RELIABLE JAMES GALBRAITH AND PETHOKOUKIS by DeLong