-
Chris Martenson has written an article entitled "The Sound of One Hand Clapping, What Deflationists May Be Missing" . I guess the main question becomes: if a bank never recognizes a loss does it actually occur? (My accountant friend tells me there's a major difference between realizing and recognizing a loss) I'd really like the Austrian
-
Penal Code Chapter 7 in Texas. I know a lot of people have probably covered this issue, but I didn't know you could actually charge and convict someone of murder in Texas who did not actually end the life of another person. I read somewhere that Texas is making "progess" on this provision by not actually sentencing someone to death who
-
Jon, I'm still looking for it. Try this for now: http://mises.org/journals/qjae/pdf/qjae10_1_1.pdf
-
The big problem that I've encountered with economic statistical analysis is the not the size or distribution of the data or sampling errors, it's understanding what you're really measuring. For instance, say I have a database full of price information. If you work from the understanding that all prices are relative, then they are in fact
-
I don't agree with Taleb's politics, but I love his skeptical mathematical mind: The Fourth Quadrant Inverse Problems. It is the greatest epistemological difficulty I know. In real life we do not observe probability distributions (not even in Soviet Russia, not even the French government). We just observe events. So we do not know the statistical
-
Even if they did an audit of the Fed, it would takes years for an auditor to figure out what was going on. If they auditor didn't come to the conclusion that the government wanted to hear, they would just fire his/her staff. Corporate world doesn't operate much differently. Then when a report comes out, you can get up in arms about a red hearing
-
This is an interesting question... I know this thread jumped on the Depression and started looking for examples of it it had ever occurred. But the real question, could it occur? Could your medium of exchange shrink almost instantaneously to the point where individuals are no longer motivated to exchange with each other? Certainly, individuals would
-
Top Story on Bloomberg China ‘Worried’ Over Safety of U.S. Debt
-
What was your rate in the Navy? Did UC give you any scholarships? I ask because I wouldn't try to take out student loans to pay for school if you can. I was a SWO officer before they "rightsized" me. All my EMs did all the work anyway and they paid for school, so I'm not complaining. Plus having social skills makes you unqualified
-
There always seems to be a group of pseudo-economists pushing some kind of Happiness Index or Quality of Life metric that comes out with a new number every 5 years or so. The problem of course is that it's impossible to quantify the value that certain groups of people derive from any given set of activities. And whenever one manufactures these indexes