The butterfly and the tulip

If you doubt the world is flat, there is now clearly a direct link between the economic Ch’i of both Canonsburg and Rajasthan:

Wall Street Journal this morning: For Guar Gum, a Bubble Goes Pop

Followed up this evening on Marketplace: How fracking affects a bean grown in India

International financial centres: Peering into the future

I did the SIGFIRM Quarterly Lecture at the University of California in Santa Cruz recently:

Also see: Mumbai as an International Financial Centre, a project led by Percy Mistry.

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It’s A Wonderful Theory

Scott Sumner:

It makes no difference who gets the extra money from the Fed, because the recipient is no wealthier than before (money is swapped for bonds) and hence they have no incentive to spend any more.  Rather the impact occurs in the AGGREGATE.  Total holdings of the base now exceed total base demand . . . → Read More: It’s A Wonderful Theory