tag:blogger.com,1999:blog-1110014885778996459.post3804620057323048499..comments2024-03-19T02:56:55.075-07:00Comments on Idiosyncratic Whisk: Financial economics is hard.Kevin Erdmannhttp://www.blogger.com/profile/07431566729667544886noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1110014885778996459.post-71767739312307190862021-12-22T00:05:55.962-07:002021-12-22T00:05:55.962-07:00These not only become wild symbols but two or more...These not only become wild symbols but two or more wild symbols also award line payouts. The free spins can be retriggered. <a href="https://casinoseo.net/" rel="nofollow">카지노사이트</a><br>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-32094791391065793742021-03-19T05:36:47.462-07:002021-03-19T05:36:47.462-07:00I am definitely enjoying your website. You definit...I am definitely enjoying your website. You definitely have some great insight and great stories. <a href="https://www.mt-police07.com/" rel="nofollow">먹튀검증</a>mshahidhttps://www.blogger.com/profile/05160438920319268824noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-56051645833078257852018-11-07T00:53:32.400-07:002018-11-07T00:53:32.400-07:00Thanks for sharing your views! You've raised s...Thanks for sharing your views! You've raised some pretty interesting points<br />And that's a very insightful tweet<br /><br /><a href="http://www.tradinggame.com.au/category/shares-to-buy/" rel="nofollow">Australian Shares to Buy</a>Jon Sigurdssonhttps://www.blogger.com/profile/01733354947979813531noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-75974020427971799552017-06-20T19:36:04.262-07:002017-06-20T19:36:04.262-07:00You gotta love James Grant. He is erudite and thou...You gotta love James Grant. He is erudite and thoughtful, probably a great dinner guest and conversationalist. I would like to have a James Grant in my circle of friends. <br /><br />Grant has been wrong for many decades in a row on inflation, interest rates, monetary policy, everything. He has been predicting runaway inflation since the 1980s. <br /><br />In fact, the way Japan is going, Grant may never, ever be validated. Perhaps Grant will arrange for some forecasts to be published annually and posthumously, so that he might be validated someday. <br /><br />As it stands now, the Bank of Japan will buy back Japan's national debt, and that will be that. They printed money and ran big national government deficits, and so what? <br /><br />A valid critique is that the Bank of Japan, and the Fed should have just gone to helicopter drops, rather than the QE and federal deficits flim-flammery. <br /><br />On bailouts: I have less reservations than many on government bailouts of financial institutions, if the equity holders are wiped out. The idea that depositors must suffer…well, not everyone can read a balance sheet and predict the future (the way James Grant has). <br /><br />In fact, the federal financial-industry bailouts amounted to less than $1 trillion, and my understanding is that taxpayers got it all back. <br /><br />Frankly, when financial institutions are failing is probably a good time to print up $1 trillion and spend it somehow. We are talking about once-a-lifetime events, sui generis. And there are real people out there who need to earn living. <br /><br />The People's Bank of China periodically prints money and buys bad loans, unburdening its banking system, much to the dismay of the "China will bust" crowd. You can almost hear them whimper, "But that is not fair!" <br /><br />The PBOC method seems to work. Maybe the bad bank managers end up as coal miners, I do not know. You do not want to be a coal miner in Red China.<br /><br />And I will conclude, as I nearly always do, by reminding everyone that the financial-industry embrace of and exposure to the artificially inflated values of zoned real estate is a key problem in developed economies. <br /><br />So let's talk about labor shortages. the Fed's Labor Markets Condition Index keeps declining, but you should read the anecdotes. <br /><br />Car lots in Alabama cannot hire car salespeople, even when they offer $10,000 a month. I read it on the Internet. <br /><br />The Fed says labor shortages are spreading. <br /><br /><br /><br /><br /><br /><br />Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-60056595100469493932017-06-20T11:16:47.366-07:002017-06-20T11:16:47.366-07:00That's true. But, I don't think our carto...That's true. But, I don't think our cartoonist had depositors in mind when he drew his fat banker falling from the sky. And, clarity on this issue would have led to an explicit GSE guarantee, instead of an implicit one. The excess income came from the uncertainty because there isn't enough appreciation for the fact that the guarantee lowers yields.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-13157303172164876962017-06-20T11:12:52.396-07:002017-06-20T11:12:52.396-07:00It would definitely be better to clarify these thi...It would definitely be better to clarify these things, because much of the excess income comes from the uncertainty. And, the uncertainty comes, in part, from a lack of appreciation for this. For instance, if the GSE guarantee had been explicit from the outset, the bondholders would have earned even lower yields.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-31192304173919985372017-06-20T08:52:27.121-07:002017-06-20T08:52:27.121-07:00Deposit insurance and the government guarantee of ...Deposit insurance and the government guarantee of GSE debt are underpriced: occasionally the general taxpayer has to contribute to paying for them, so the depositor and the holder of GSE debt, while they are paying something for the guarantee (through relatively meagre return), are not paying the full price.Philohttps://www.blogger.com/profile/02814125172453918700noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-17218521098071973502017-06-20T06:18:28.808-07:002017-06-20T06:18:28.808-07:00I'm fine with protecting deposits up to some l...I'm fine with protecting deposits up to some limit. And I agree equity tends to go to zero. But that leaves a lot of the capital structure between those two extremes. I highly object to bailing out lenders who knowingly received interest well above the risk-free rate. The knew they were being rewarded for taking certain risks.Anonymousnoreply@blogger.com