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lyonew
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Obesity Rates Keep Rising, Troubling Health Officials
Nine states, led by Mississippi at 34.4 percent, have rates reaching 30 percent or more, as opposed to only three states in 2007. -
Electric Carmakers Focus on Incentives, Not Carbon Prices
LIVONIA, Mich. -- With climate legislation seemingly dead in Congress, many clean-energy advocates are going back to the drawing board. But the electric-car industry, which is relying on other federal incentives to get ahead, remains upbeat.
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wegotmoney@yahoo.com
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Tara Parker-Pope
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
http://krugman.blogs.nytimes.com/
"Hermetic Economic Cults (Wonkish)
Brad DeLong points to repeated quotes from Chicago economists asserting that any economist proposing fiscal stimulus – Christy, Larry, me – must be corrupt. And then they get all huffy about the way I insult them!
What drives this stuff, at least in the first instance, is the belief of the Chicago guys that “nobody” has argued that fiscal policy can be expansionary since the rational expectations revolution of the 70s – which is quite untrue. What actually happened in the 70s was that the Chicago guys stopped reading anyone who wasn’t a true believer, which meant that they missed the revival of Keynesian economics (pdf) (yes, that’s a paper by Greg Mankiw), and all that went with it.
In my case, when the possible role of fiscal policy started coming up, my thoughts turned immediately to Obstfeld and Rogoff. This stuff – which was very influential in international macro – relied on a model with full Ricardian equivalence. Nonetheless, temporary increases in government purchases caused temporary increases in aggregate demand.
I don’t mean to argue that this is the only good way to think about these issues; old-fashioned IS-LM is actually a surprisingly powerful tool of analysis, and it’s by no means clear that fancier models are an improvement. But O-R was a model with all the eyes crossed and teas dotted, and it showed that even so fiscal policy could affect demand. No economist who had read Obstfeld-Rogoff, or was even vaguely aware of what they and many others working in the New Keynesian domain had been doing, could have said what Fama, Cochrane, and Lucas did.
So what this whole controversy shows is the insularity of the Chicago guys; their brand of economics has turned into a hermetic cult, closed to any information from heathen sources.
And of course, having tried to pull rank on people who were actually well ahead of them even in terms of fancy modeling, they’re now in a position where they have to become even more hermetic to keep their self-respect."
"January 3, 2012, 8:33 am
Incorrect
Interview of Jean-Claude Trichet by La Repubblica, June 2010:
One cut after another: many economists say that there is a clear risk of deflation. What are your views on this?
“I don’t think that such risks could materialise. On the contrary, inflation expectations are remarkably well anchored in line with our definition – less than 2%, close to 2% – and have remained so during the recent crisis. As regards the economy, the idea that austerity measures could trigger stagnation is incorrect.”
Incorrect?
“Yes. In fact, in these circumstances, everything that helps to increase the confidence of households, firms and investors in the sustainability of public finances is good for the consolidation of growth and job creation. I firmly believe that in the current circumstances confidence-inspiring policies will foster and not hamper economic recovery, because confidence is the key factor today.”"
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Sasha Koren
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Tara Parker-Pope
Sooner is better. As soon as you can is best.
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Does IMF Stand for Impressive Macroeconomic Flexibility?
So the IMF is holding a meeting on rethinking macroeconomic policy (I was invited but couldn’t make the timing work.) And the Fund’s chief economist has already made it clear that he’s open to some serious revision of the prevailing paradigm.
http://www.nakedcapitalism.com/
Links 1/3/12
Chimps ‘consider their audience’ BBC
Dead herring mystery for Norway as thousands wash up on beach Guardian (hat tip Buzz Potamkin). Ugh.
Disturbing video that shows U.S. soldiers ‘blowing up a dog in Iraq for fun’ (hat tip reader May S)
For Better Grades, Try Bach in the Background Truthout (hat tip reader Aquifer). OMG, first Baby Mozart, now this…
Facebook Responsible for A Third of Divorces in UK? ItProPortal
No Virginia, Tin-Foil Hats Do Not Help…. Cassandra
Ohio Fracking Wells Closed After Earthquakes CNN (hat tip reader Aquifer)
The Greatest Paper Map of the United States You’ll Ever See Slate (hat tip reader Carol B)
Homeowner’s parking spot is valued at $300,000 (that’s $70,000 LESS than his luxury condo) Daily Mail (hat tip reader May S)
The private education dilemma MacroBusiness. This is a really well done short piece. Australians are almost natively critical thinkers. They question things American take for granted. Must come from having their seasons backwards :-)
A fitting end to a disastrous year in Indian politics Riding the Elephant (hat tip reader May S)
The Rain In Spain Falls Mainly On The Journalists, It Seems Edward Hugh
2012 could be the year Germany lets the euro die Ambrose Evans-Pritchard, Telegraph
Merkozy’s Dinner for One Ed Harrison
As Tensions Rise, Iraqi Sunnis Flee Mixed Neighborhoods AntiWar (hat tip reader May S)
A New Theory of the Role of the GSEs in the Housing Bubble Adam Levitin
End of the pro-democracy pretense Glenn Greenwald
COPS BEAT BLACK 15 YR OLD AFTER HE SURRENDERS — PREVIOUSLY BANNED ON YOUTUBE YouTube (hat tip reader Francois T)
The Rules on News Coverage Are Clear, but the Police Keep Pushing New YorkTimes (hat tip Buzz Potamkin)
Gingrich Falters as Negative Ads Dominate Iowa Bloomberg
The Rise of the Tea Party Counterpunch (hat tip reader May S)
Funding gap doubles for US corporate pensions Financial Times
For 2012, Signs Point to Tepid Consumer Spending New York Times
Bridgewater Stays Gloomy for 2012 Wall Street Journal
Global financial fiasco: End of the age of US economic dominance Express Tribune (hat tip reader May S)
The year’s top story is not getting coverage Danny Schechter, Aljazeera
And an important query to those of you in Maryland (please circulate to the like minded in that state as well):
Some close friends and I are on a campaign to get Attorney General Gansler (State of Maryland) to join with Beau Biden and the other courageous AGs who have taken a stand against settlement and immunity for Wall Street.
Antidote du jour:
Jamie Hopkins with Baltimore Sun has written several articles in the last 3 years regarding the foreclosure mess here in MD (not nearly enough of course). Jamie has been, so far, the only reporter to respond to our queries to various area newspapers asking why aren’t they asking the tough questions to our AG’s office about why he hasn’t stood with the consumers of his State and said “no immunity for Wall Street.”
Jamie is motivated to write an article about our campaign and has asked for names and contact info of those who have written letters and/or contacted the Maryland AG’s office as she would like to interview them.
Here’s where I need your help. Would you be willing to ask if there are Maryland NC readers who have contacted the MD AG’s office, to please contact me at Bertram25George (at) gmail.com. FYI I go by the screen name G Man on your site.
BBC Market survey
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kushner
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Obesity Rates Keep Rising, Troubling Health Officials
Nine states, led by Mississippi at 34.4 percent, have rates reaching 30 percent or more, as opposed to only three states in 2007.
Cheap food is starch, sugar and grease.They stay edible for months without refrigeration.The poor relocate to cities because that is where the money is.The food in cities is all sold at a profit.Change that and the world ill be different. -
Electric Carmakers Focus on Incentives, Not Carbon Prices
LIVONIA, Mich. -- With climate legislation seemingly dead in Congress, many clean-energy advocates are going back to the drawing board. But the electric-car industry, which is relying on other federal incentives to get ahead, remains upbeat.
http://topics.nytimes.com/top/reference/timestopics/subjects/e/electric_vehicles/index.html?scp=1-spot&sq=electric%20cars&st=cse
Lots of fans. Not many cars on the road.The price will have to come down toward $10,000.
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Emily Rueb
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Tax Soda, Subsidize Vegetables
“Tax Soda, Subsidize Vegetables, says Mark Bittman - http://nyti.ms/pl0FUA”
A wonderful idea.I want to see it implemented.
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