Summer is finally here! Start it right with our daily reading list (Continues here):

• Lessons for Climate Change in the 2008 Recession (NY Times) see also Who’s Afraid of 1929? (Philosophical Economics)
• How to Lose $1 Billion: Yeshiva University Blows Its Future on Loser Hedge Funds (Take Part)
• The stock-market herd: How to think about investing when prices are this high. (WSJ)
• What Janet Yellen Is Trying to Tell Us (NY Times) see also Can Yellen Float Above Politics? (Bloomberg View)

Continues here


Category: Financial Press

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2 Responses to “10 Monday AM Reads”

  1. RW says:

    Inflation Hysteria

    It appears that a case of inflation hysteria is gripping Wall Street. …

    …you shouldn’t be looking at the inflation numbers without understanding the underlying wage dynamic.

    NB: There’s a lot of misunderstanding about inflation and many people confuse this general depreciation in a currency’s purchasing power with price increases due to commodity shocks (gas, food, etc) or economic rents (higher ed, medicine, etc) and so forth; e.g., How can inflation be considered low when food and gas prices are so high?.

    This is just another aspect of why a national economy cannot be appropriately analogized to a household: In a household more expensive food or gas can mean painful purchasing choices requiring a policy of budgetary constraint; that same policy of budgetary constraint at the national level leads to increased unemployment, more widespread economic decline and an increase in deflationary pressure as we have seen.