A Revision Of Keynes’ Model: The Roots Of Concordian Economics
Revised: 18 June 2023.
The paper on Keynes is brilliant.
. . . . –Prof. John C. Medaille
Weather: Tonight, Tomorrow, Next Day, Five Days, and Intermediate-Term Outlooks for the U.S. and a Six-Day Forecast for the World: posted June 6, 2023
Updated at 3:52 p.m. Tuesday, June 6, 2023Here is what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term outlooks and a five-day World weather forecast.
We start with the U.S. Information.
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…
Adventures With 3 Coin Flips. Part 2: Connecting the Micro to the Macro
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)?
Adventures With 3 Coin Flips. Part 1: The Gamblers’ Paradox
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?
Measuring Area Under a Curve in Excel
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
March 2023 Economic Forecast: Data Improves But Inflation Uncertainties May Be A Monkey Wrench
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.
It’s guns, stupid!
*** 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!
How to Solve Money Woes of the World Using the Bancor
I have written about money woes issues separately in the past on a variety of venues, but consistently on Econintersect and Talk Markets. Let me now gather these thoughts together. A confluence of impelling crises requires this synthesis. Here I argue for the institution of a global currency – the Bancor – first proposed by John Maynard Keynes at Bretton Woods in 1944.
Hello world!
Stay tuned. John and Steven are back with a new economics website after selling econintersect.com. This site should be up and running within a few weeks.