Written by Steven Hansen
The Federal Reserve data release (Z.1 Flow of Funds) – which provides insight into the finances of the average household – shows an increase in average household net worth and an improvement in income. Our modeled “Joe Sixpack” – who owns a house and has a job, but essentially no other asset – is better off than he was last quarter.
One of the time periods without significant inflation changes is incorrectly specified in Part 15.1 This post corrects that error.
Photo by Brett Jordan on Unsplash
Markets are closed today, but here are the headlines we are reading:
Click on the “Read More” below to access these, other headlines, and the associated news summaries.
Revised: 18 June 2023.
The paper on Keynes is brilliant.
. . . . –Prof. John C. Medaille
Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
345 PM EDT Tue Jun 06 2023Valid 00Z Wed Jun 07 2023 – 00Z Fri Jun 09 2023
...Much above average temperatures from the Northern Plains to the Pacific
Northwest while the Southwest/California and the Northeast remain below
average……Numerous and Widespread Air Quality Alerts from the Northeast to the
Great Lakes as well as for other urban areas in the central/eastern U.S……Scattered to widespread showers and storms with the risk for flash
flooding continue from the High Plains into the Intermountain West…
In Part 1, we saw that increasing the observation window changes the results for the occurrence of tails following heads. That raises the question: How does the micro (small observation window) relate to the macro (large observation window)? More specifically, what is the relationship between results from a small observation window (three flips) and those from a large observation window (100 flips)?
Many gambling activities involve betting on events for which the outcomes obey rigid, specified odds. When there is no mechanical bias, roulette wheels have fixed odds, including some that are binary (50:50) such as red vs. black. Betting on the flip of a coin is likewise a binary 50:50 proposition: heads or tails. Why is it then that there is a propensity for some gamblers to place wagers in a pattern conflicting with the known 50:50 odds? For example, after a string of blacks on a roulette wheel, why do some gamblers keep increasing the amounts bet on red with each succeeding black?
A valuable function not provided by the Microsoft spreadsheet program Excel is calculating the area under a curve. This basic function is needed for many quantitative analysis problems when the data does not fit a defined algebraic function.
Credit: Clipped from a photo by Isaac Smith on Unsplash1
Authored by Steven Hansen
EconCurrent‘s Economic Index continues to improve but remains slightly in negative territory. Interestingly, there continues to be improvement in the economic releases we view. Even industrial production and retail sales insignificantly gained. Yet, there is a potential chill in the air caused by inflation uncertainties. Read on to understand the currents affecting our economic growth.
*** This post was published on June 2, 2021. It reads well today, if “San Jose” is simply replaced with “Texas” (Texas shooting: How a sunny Uvalde school day ended in bloodshed).
Another mass shooting (San Jose shooting leaves 9 dead). Again the flag is half-staff at the White House (‘Enough’: Biden urges Congress to pass gun control bills after lowering flag for latest mass shooting). Still another ‘all-talk without action’ by American politicians … Gov. Newsom asks, ‘What the hell is wrong with us?’ following San Jose shooting.
It’s guns, stupid!