In a House hearing on monetary policy last week, Federal Reserve Chair Jerome Powell made a telling confession in response to a question from Rep. Alexandria Ocasio-Cortez (D-NY). The topic was the so-called natural rate of unemployment: the idea, believed by many economists and policymakers, that there is a rate at which unemployment could get so low…
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I guess you would get the same answer if the question was asked here. More here – ArsTechnica
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PS I don’t understand a word but I don’t think that matters
There is a line attributed to Ernest Hemingway — that the first draft of everything is shit — which, of all the beautiful things Hemingway has written, applies most powerfully to the ending of A Farewell to Arms. There are no fewer than 47 alternate endings to the book. Each one is a window into how much…
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In recent years, a grassroots movement of physicians have begun prescribing time outdoors as the best possible treatment for a growing list of ailments, from anxiety and obesity to attention-deficit disorder and high blood pressure. Meanwhile, research institutes for nature and health are opening at major medical centers and a couple bold insurance companies are…
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Financial markets are rife with stupid homilies and if we look at the strict definition of the word homily we get – a religious discourse which is intended primarily for spiritual edification rather than doctrinal instruction. That is something designed to make you feel good rather than teach you anything. If you are in trading…
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I came across a piece titled The Best Ten Years Ever and being a student of market history I took more than a cursory glance. The article is filled with some very interesting charts based around the S&P500 and a series of metrics measuring performance. Things like this appeal to me because they offer a…
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Image and blog title courtesy of the good Dr Joe….
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