asterisk2a + equilibrium   13

What Really Caused the Crisis and What to Do About It - YouTube
"There are not perfect markets, and there is no perfect planner. [...] we will never arrive at perfect solutions. [...] market will never allocate perfectly ... [...] market will always tend to lend to property and land, and less into productive means (businesses = risk of 100 loss, land or property ... you have a loss when you sell it. << China, UK ) [...] not all credit is good credit. [...] need for macroprudential policy to dampen bubbles bc rate hikes could dampen normal non-speculative area of economy. ie loan to value limits [...] interest rate setting is blunt hammer that people though is the magic wand along the line of self-regulation, free market, neoliberalism and trickle-down [...] GFC can be traced back to the 60-70's - macroecon + micro with absurd assumptions (ie rational expectations, equilibriums, no bubbles) & math & pure theoretical base (no empirical analysis ie of what banks really do ie greed) = makes job of economist as policy advisor real easy.
bank  crisis  JohnMaynardKeynes  keynes  Keynesianism  book  Richard  Koo  aggregate  demand  austerity  liquidity  trap  deleveraging  balance  sheet  recession  debtoverhang  GFC  recovery  secular  stagnation  western  world  dogma  ideology  underinvestment  productive  investment  infrastructure  investment  monetary  policy  monetary  theory  trickle-down  economics  neoliberalism  neoliberal  budget  deficit  economic  history  credit  bubble  output  gap  productivity  inflation  targeting  nominal  GDP  targeting  asset  allocation  economics  investment  banking  zombie  banks  retail  banking  financial  product  CDS  CDO  hunt  for  yield  VAR  risk  aversion  deflationary  deflation  ZIRP  NIRP  QE  debt  monetisation  debt  monetization  Glass-Steagall  self-regulation  regulators  regulation  leverage  margin  trading  property  bubble  arbitrage  speculative  bubbles  asset  bubble  UK  USA  Europe  ECB  Fed  BOE  zombie  consumer  squeezed  middle  class  zombie  corporations  NPL  junk  bond  realestate  macroprudential  policy  mortgage  market  equilibrium  disequilibrium  Economist  economists  Adair  Turner  hayek 
february 2016 by asterisk2a
Inequality and the Challenge of Employment - New Economic Thinking - YouTube
intrinsic motivation, fairness, social animal - social comparison (is encoded into the brain) - status anxiety // self-interest mostly wins over ethics/moral values? // trust between principle & agent // org structure and inventive - ie bonus variable attracts more selfish people and risk takers // justice and fairness is critically important - not only in orgs but also democracies //&! Natural rate theory (equilibrium) - service sector jobs (unskilled manual labour jobs) w minimum wage and not higher. and flexible wages with no minimum wage (USA) create working poor/inequality. institutional change - economists are not just analysts they also affect policy makers (think tanks). // austerity hurts equality/social mobility = economic long-run damage to potential (thus output gap and productivity loss) - lack of supply of able workforce to create added value products & services. trickle-down not helping. //&! tax code unfair, lower capital gains tax than on earned (labour) income
inequality  Gini  coefficient  social  mobility  income  mobility  intrinsic  motivation  fairness  human  resources  HR  management  people  management  well  being  philosophy  Alain  de  Botton  happiness  index  Selbstfürsorge  self-awareness  self-actualization  Maslow  socioeconomic  status  status  anxiety  social  status  workplace  work  environment  beyond  workplace  drama  chronic  stress  shareholder  value  profit  maximisation  shared  economic  interest  economic  damage  wage  growth  income  growth  income  gap  gender  pay  gap  glass  ceiling  glass  cliff  gender-based  discrimination  gender  inequality  trust  labour  economics  labour  market  microeconomic  policy  behavioral  economics  Organizational  behavior  organization  skill-biased  technological  change  job  market  minimum  wage  living  wage  equilibrium  sticky  wages  liberal  economic  reform  neoliberal  neoliberalism  underemployed  Workers  Union  macroeconomic  policy  unemployment  skills  gap  education  policy  vocational  education  poverty  trap  student  debt  student  loan  downward  mobility  welfare  state  Higher  income  inequality  Privileged  Middle  Class  Sozialer  Abstieg  squeezed  Public  Services  Services  child  poverty  poverty  American  Dream  output  gap  potential  output  added  value  value  creation  capital  skills  human  capital  dehumanisation  subhuman  trickle-down  economics  dogma  ideology  austerity  policy  error  policy  folly  UK  state  capital 
july 2015 by asterisk2a
The Ashcroft Interviews: Money, Blood & Revolution - YouTube
George Cooper - broken economics << is in crisis. is not offering useful guidance for policy makers because of so much conflicting views that are taken at time and voiced at times very violently. "economics is akin to astrology." ... QE will create bigger future recession. &! neoclassical = trickle-down/trickle-through &! economics teaches you a wrong view / looking glass &! neoclassical view - getting richer and richer. is that really true? &! maintaining status quo &! self-interest &! Marx says capitalism is polarising
book  economics  economist  GFC  academia  academics  centralbanks  equilibrium  disequilibrium  QE  debt  monetization  debt  monetisation  monetary  policy  unconventional  monetary  policy  debt  bubble  sovereign  debt  crisis  Super  Cycle  debt  jubilee  debt  restructuring  balance  sheet  recession  debtoverhang  debt  overhang  Gini  coefficient  income  inequality  inequality  social  cohesion  trickle-down  economics  liquidity  trap  Philosophy  LTRO  TLTRO  education  policy  social  mobility  income  mobility  fairness  tax  evasion  tax  avoidance  downward  mobility  social  safety  net  austerity  Makers  policy  folly  policy  error  Career  Politicians  Lobbying  lobbyist  lobby  Super  Rich  1%  Wall  Street  crony  capitalism 
march 2015 by asterisk2a
Deutsche-Bank-Chef Fitschen fordert Ende der Niedrigzinsen - SPIEGEL ONLINE
"Es ist in der Tat sehr wichtig, den richtigen Weg zur Umkehr zu finden, um nicht sofort den nächsten Kollaps zu provozieren." Der Grat sei sehr schmal. "Alle aber sind sich einig: Die Zinsen können dauerhaft nicht so bleiben, weil sonst die nächsten Verwerfungen die Folge sind", sagte Fitschen.
QE  NIRP  monetary  policy  disequilibrium  bubbles  unintended  consequences  debt  monetisation  equilibrium  ZIRP  bubble  banking  crisis  artificial  demand  toobigtofail  bank  crisis  speculative  bubbles  centralbanks  debt  monetization  Free  Lunch 
may 2013 by asterisk2a
BBC News - George Osborne warned by MPs over mortgage guarantee risks
Mr Osborne has said the housing market is still not functioning properly after the 2008 financial crisis, with the number of purchases by first-time buyers down 40% in the past five years. [...] >> haven't they learned anything? subprime and house price bubble created itself by state guarantees introduced by gwbush to push home owner ship. - history doesn't repeat, but rhymes - market prices though information. distortion by brining in more normally ineligible buyers. - Osborne tackling an effect of income stagnation and excessive inflation + zombie consumers and zombie banks. First-time buyers unable to put up deposit. >> http://www.zerohedge.com/news/2013-03-20/uk-discloses-home-purchase-subsidy-part-its-latest-2013-budget
microeconomic  policy  monetary  policy  complexity  asset  bubble  Mark  Carney  monetary  theory  reflation  unintended  consequences  zombie  banks  liquidity-trap  distortion  davidcameron  BOE  subprime  political  folly  policy  folly  QE  2013  Plan  B  short-term  thinking  microeconomics  disequilibrium  economic  history  gwbush  mortgage  fraud  UK  error  equilibrium  fanniemae  unconventional  monetary  policy  ZIRP  austerity  USA  housing  bubble  zombie  consumer  mortgage  market  MervynKing  subsidies  freddiemac  economics  Funding  for  Lending  Scheme  GeorgeOsborne  subsidizing 
april 2013 by asterisk2a
Ökonomen-Konferenz Hongkong: Warum wir immer mehr wollen - SPIEGEL ONLINE
Je größer unser Wohlstand, so das Fazit, umso größer der Anteil unserer Ausgaben, mit denen wir lediglich anderen Menschen nacheifern. [...] Werber wissen intuitiv: Das Versprechen von Status ist eines der wichtigsten Verkaufsargumente überhaupt. [...] Nachahmungstheorie des Kulturwissenschaftlers René Girard: Für ihn zählt der Drang von Menschen, andere in ihrem Verhalten zu imitieren, zu den Grundlagen der Zivilisation. [...] Wie Finanzmärkte neigen auch Konsumgütermärkte zu Spekulationsblasen >> Angewandt auf die Wirtschaftswissenschaften führt Girards Theorie zu beunruhigenden Erkenntnissen: Märkte für Konsumgüter tendieren nicht automatisch zu einem Gleichgewicht von Angebot und Nachfrage, wie gemeinhin angenommen, sondern zu einem immerwährenden Ungleichgewicht. "Ohne Knappheit gäbe es keine Nachfrage." ( http://www.youtube.com/watch?v=-eusHpPO0fI ) - Plays well into anthropology, evolution. Google "chimpanzee imitation"
complexity  advertising  speculative  bubble  western  lifestyle  Jean-Pierre  Dupuy  status  quo  middleclass  status  marketing  INET  society  microeconomics  disequilibrium  philosophy  advertisement  social  science  peterthiel  equilibrium  Nature  evolution  social  study  bubble  René  Girard  imitation  zombie  consumer  economics  western  society  consumerist  culture 
april 2013 by asterisk2a
Shorting The Market On These March Days Will Be Hazardous To Your Health | Zero Hedge
send the S&P higher by 5-15 point in minutes on, well, absolutely no news, except for the usual deluge of between $1 and $5 billion in additional purchasing handed over by Chairman Ben to the banks because, you see, they need the money. And sooner or later it will trickle down on everyone else.
ZIRP  QE  2013  monetary  policy  Fed  economic  history  benbernanke  POMO  equilibrium  market  intervention  market  dynamics 
march 2013 by asterisk2a
Euro-Krise: Warum die Rettung der spanischen Banken gescheitert ist - SPIEGEL ONLINE
The crisis around Europe show, that market is, can become, a herd phenomenon. Where one problem or effect is increased by financial media concentration and analysis - and the market is piling in.

Example, Spain's 10yr is around 7%. But Belgium has very similar problems and even higher Debt/GDP as Spain, but Belgium's rates increases are negligible if one just listened to the media. And forgets about the facts.

The same is about Moody's warning about Core Risks, and potential downgrades. Media and Market and Major in-house analysis (from banks, hedge fonds and investment banks) are yet shy about adding the numbers of potential risks and liabilities as well as already existing liabilities through existing bailout agreements. Well ... till it isn't any more according to the majority of market participants. And then for Germany, yields will rise and will see a potential over reaction first.

The Crowd has certain psychological characteristics. Period. Proven above.
behavioral  finance  behavioral  economics  2012  sovereign  debt  crisis  Europe  PIIGS  ratingagencies  market-failure  market-mechanism  market  dynamics  psychology  bankrun  financialmarket  equilibrium  economic-thought  economic  model  economic  history  economic  multiple  equilibria  Chaos  theory 
july 2012 by asterisk2a
In placing stock bets, listen to the shorts: study | Reuters
The average stock investor could be forgiven for being overwhelmed by opinions, but one study says if there's one group to listen to, it's the short-sellers.

"Essentially, the short sellers are doing a tremendous job of using information with predictive value, and they really look like value investors."
Some investors agreed with the results, as the increased risk taken by short sellers with their own capital makes them more active in rooting out potential problems in a company.
stockmarket  average  stugy  return  2011  short-selling  equilibrium 
february 2011 by asterisk2a

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