Monthly Archives: January 2009

CORNERING THE MARKET IN 2008—WHY VOLKSWAGEN WAS THE MOST VALUABLE COMPANY IN THE WORLD.

CORNERING THE MARKET IN 2008—WHY VOLKSWAGEN WAS THE MOST VALUABLE COMPANY IN THE WORLD. One of the unusual financial events in 2008, little noticed because of all the other events, was that there was a successful attempt to corner a … Continue reading

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ADVENTURES IN FINE EATING—SQUIRREL.

ADVENTURES IN FINE EATING—SQUIRREL. I had a memorable dinner in Jefferson City, Missouri some thirty years ago. A lawyer invited me to his home for “pot luck.” It turned out to be quite special. Marinated octopus was the first course, … Continue reading

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BEING SHAPED BY THE CURRENT FINANCIAL CRISIS.

BEING SHAPED BY THE CURRENT FINANCIAL CRISIS. The Great Moderation must have shaped an entire generation. It lasted almost 25 years. People who began studying economics at its beginning would be in their mid-forties now. I wonder how much their … Continue reading

Posted in Economics, History | 4 Comments

BEING SHAPED BY THE GREAT DEPRESSION.

BEING SHAPED BY THE GREAT DEPRESSION. Kids, the Great Depression of the Thirties shaped the thinking of the generations that lived through it. My father did not buy any equities (stocks) until he was in his sixties, although he attributed … Continue reading

Posted in Economics, History | 3 Comments

ANSWERING YESTERDAY’S QUESTION.

ANSWERING YESTERDAY’S QUESTION (COMMENT). Lee Bryant took on the question that I repeated yesterday, commenting here that “I think the occasional big downturn has to happen,” and adding that he had thought that back before he had studied economics. My … Continue reading

Posted in Economics | 2 Comments

GROWTH PATH OR CYCLES?

GROWTH PATH OR CYCLES? Kids, I asked here how you think about the economy: Are booms and busts the natural state of the economy? When I posed the question, I should have pointed out that there is at least one … Continue reading

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UPS AND UPS AND UPS—THE GREAT MODERATION.

UPS AND UPS AND UPS—THE GREAT MODERATION. Back in the sixties, there was a minority of economists who argued that it was possible for policy makers to keep the economy on a steady path. The seventies were a time of … Continue reading

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UPS AND DOWNS.

UPS AND DOWNS. When I was studying economics in the sixties, the prevailing view of the economy was that there would always be booms and busts. In fact, it was thought that there was a regular pattern to the booms … Continue reading

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LUCY VAN PELT ON THE FINANCIAL CRISIS.

LUCY VAN PELT ON THE FINANCIAL CRISIS. Lucy Van Pelt in PEANUTS once asked, “Why are there ups and downs? Why aren’t there just ups and ups and ups?” Economists differ on whether there could be ups and ups and … Continue reading

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SADNESS—CHARLIE BROWN AND JON ARBUCKLE.

SADNESS—CHARLIE BROWN AND JON ARBUCKLE. The strongest memory I have of Charlie Brown is of him sitting on a curb for four identical panels of a strip. The first three are wordless; the fourth panel gives Charlie a balloon with … Continue reading

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