Results for “John Brynjolfsson”

The scenario I am describing would involve a relatively sharp collapse of the dollar, which I would qualify by stating that if the same policies are undertaken in U.K., Japan and continental Europe, the collapse of the dollar may not be reflected in exchange rates between these currencies, as all would collapse at same time.

Unknown.

Chairman Bernanke, as good as he is academically, and as much integrity as he has (which I believe is unlimited), has an analytical framework that suggests a lot more inflation is allowable. Part of this is because he looks at core rather than headline, which is a flawed calculus.

Unknown.

Remember that back in 1950, they invented something called the computer that allows you to do more complex calculations than you could with a paper and pencil. Computers allow us to use much more sophisticated statistical techniques to calculate seasonal adjustments, which mean that we do not need to use year-over-year calculations.

Unknown.

The policies they prescribe are a continuation or exaggeration of the previous policies that created the structural problems in the first place. I am therefore relatively pessimistic on the intermediate and longer term outlook for the U.K., the U.S., Spain and other countries where credit was readily available.

Unknown.

Rather than the emerging markets, or weaker economies, this problem originated in the most sophisticated and advanced financial markets because those are the markets where leverage was the greatest and people took the most advantage of it.

Unknown.

These policies are, in the long term, very dangerous for productivity, growth, entrepreneurial spirit and wealth generation and will create further issues within the developed economies.

Unknown.

The developed world actually has worse demographics when looking at competitiveness and systemic issues, and has a lot of work to do in order to shore up financial systems.

Unknown.

This problem originated in the most sophisticated and advanced financial markets because those are the markets where leverage was the greatest and people took the most advantage of it.

Unknown.

The policies they prescribe are a continuation or exaggeration of the previous policies that created the structural problems in the first place.

Unknown.

Like everyone, investors get hurt by the implicit loss of purchasing power of each dollar inflation implies. However that is only the tip of the iceberg, as this loss is likely to be compounded by the tendency for traditional investments to suffer additional erosion.

Unknown.

Stock prices suffer a one-two punch. Rising raw material prices tends to compress margins or earnings, and rising interest rates tend to compress p/e ratios, as earnings yield must compete with interest rates.

Unknown.

Firstly, inflation is always and everywhere a monetary phenomena. Secondly, the Phillips curve is dead and buried. US employment, and domestic measures of capacity utilization didn't even work 40 years ago! We stuck a stake in the heart of such measures about 15 years ago.

Unknown.

Today away from monetary policy, global factors drive inflation, and for tangible goods emerging market drivers are key. We note commodity consumption per unit of GDP explodes as per capita income rises from $3000/yr into the $5000 to $15000 bracket.

Unknown.