In this week's post, I am posting the Confederacy of Dunces biography of Charles Evans and some associated commentary. Evans is a PhD economist and was appointed president of the Federal Reserve Bank of Chicago in 2007. (1) Evans is currently a non-voting member of the Fed's open market committee, (FOMC), but will become a voting member in 2019. Now that the Fed has stopped cutting intere
People may wonder what the Flint Water Crisis has to do with 2008 Financial Crisis. When I introduced my analysis of the Flint Crisis I discussed one similarity with the financial crisis. In particular, both crises reveal how the political elite will "fashion any problem to suit their ends."
This week's blog post is a little different. In it I will introduce a new section to the website. You will now notice a tab entitled "Flint Crisis" at the top of each page. In this tab there is a complete analysis of the Flint Water Crisis. While not immediately obvious, the Flint Water Crisis shares several features with the financial crisis, two in particular;
When currency was backed by gold, a central bank's main function was to maintain the value of the issued currency in terms of gold. For example, if a central bank created too much money against the gold reserves in the banking system, an increasing number of people would begin to exchange their currency for gold. These people would do this out of concern that the increased money supply would
There are many examples of the complete dearth of creative talent in Hollywood. Perhaps the best example is Hollywood's obvious reliance on movie "franchises" and characters developed decades ago. Just this past week, the number one movie at the box office was the latest iteration of the "Halloween" series of horror movies. These movies revolve around the terrifyingly enigmatic masked killer