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Monthly Archives: August 2013
Morganizing
Free enterprise is a term that relates to morganizing. Nineteenth Century capitalism saw entrepreneurs like J.P. Morgan consolidating industry and markets. Free to enterprise, markets were considered being made more efficient. Higher efficiency accumulates profits. The marginal profit–the measure of … Continue reading
Roiling the Waters
Maxine Waters was roiled by evidence the commodity division of JP Morgan Bank bilked her constituents Enron style. Clearly, even after the collapse of Enron and criminal prosecutions, there is still the incentive for this kind of dark-market, Ivy-League business … Continue reading
The Liability
DOJ says Bank of America sold $850m of fraudulent RMBS’s in 2008. DOJ’s civil complaint is the result of a PWG (President Obama’s Financial Fraud Enforcement Task Force’s RMBS Working Group). According to the Group, RMBS fraud caused the Great … Continue reading
Peculiar Pops in Pop Media
A popular wonk says “science is not objective.” That is wrong. He says it is not objective because scientists choose what to study, which is a political endeavor. That is incorrect. For example. Say we choose to study trickle-down economics … Continue reading
PWG
A Presidential Working Group planted the seeds of the Great Recession. Can we now expect a presidential group to plow the fields and plant the seeds of prosperity? Clinton organized a PWG for making markets more efficient. It was composed … Continue reading
Fannie Spanked…Freddie Unsteady
Looking back, maybe converging public and private models isn’t such a good idea going forward after all. The incentives (the motives) are, apparently, perverse. It isn’t always obvious, but notice how problems reform back to the future (the hysteron proteron … Continue reading
The Problem Solution
Resisting the declining rate of profit is to resist the “riskless return.” Since the declining rate is a classical, economic term, used by Marx, for example, it has to be called something else. The language is idiolectal. We are much … Continue reading
Incentives
We were in a housing recovery just a few months ago, remember. Prices were rising with demand. Of course, I argued that it was speculative demand (overconsolidated capital), arbitraging the risk (the inefficiency) of confiscating property to resell at a … Continue reading
Posted in Political-Economy and Philosophy
Tagged housing slump, market gurus, welfare cuts
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Backward Convergence
The Price of Deliverance Using “innovative” financial “products” we can “put” selfishness so far ahead of ourselves, to ensure its future value on the “call” side, that instead of being the expression of the one absolute, knowable utility, the portrait … Continue reading
The Futures Now
Convergence and Backwardation The title of this article is plural because, like modern physics tells us, the probabilities are infinite. At the same time, the possibilities are verifably definite when we use the scientific method and its preferred language, the … Continue reading
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