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    Economics / commercial real estate, loan losses, real estate, stress tests /

    Voodoo Real Estate

    June 14, 2009

    Just a quick note: sometimes we need to remember that talk of ‘markets’ is a massive abstraction. A market is simply us. Or a collection of us. So when we speak of markets doing something or other we are really talking about us doing something or other. In this context a walk around my neighborhood […]

    Economics / banking, Minsky, recovery, Risk Models /

    Banks, Economics: and That Market Magic

    June 14, 2009

    Sorry to say this but the speed of the recovery looks as if it will be very slow. There are a number of reasons for this, but right at the top comes the state of our banking system. Which is something we have not fixed. A second factor is the state of economics itself. As […]

    Economics / bond markets, deficits, federal deficits, fiscal policy, GDP, interest rates, monetary policy, national debt /

    National Debt Issues

    June 11, 2009

    The size of the national debt, as it rises inexorably, has suddenly become the latest focus of fear amongst those who want to find any reason they can for attacking current economic policy. They are wrong to worry. But there seems to be a lot of them, so they are able to stir up emotions […]

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