Re: [Pen-l] Stochastic calculus porn

To: "Progressive Economics" <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] Stochastic calculus porn
From: raghu <mraghu01@xxxxxxxxx>
Date: Thu, 23 Oct 2008 11:15:40 -0700
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On Thu, Oct 23, 2008 at 10:48 AM, Max Sawicky <sawicky@xxxxxxxxxxx> wrote:
> http://econlog.econlib.org/archives/2008/10/economists_pretending_to_have_knowledge.html
>
> Arnold Kling (libertarian) goes off on the frontiers of macroeconomics.
>

The struggling homeowner is the staple of political speeches ("we have to help struggling homeowners") but the media are not exactly filled with stories of people who lost a lot of money on their homes. Maybe because they didn't put any money down to begin with, so they have not lost anything. I suspect that news organizations are trying to find struggling homeowners to profile, but instead they are finding mostly struggling speculators.

Wow! How dense is this guy?

Another point of issue in the narrative battle is the percentage of subprime loans made by Freddie and Fannie. Because they accounted for less than, say, 1/5 of all subprime loans, we are supposed to say, "Phew! It wasn't their fault! It was the private sector's fault!"

This again? He and his ideological brothers keep beating up on FNM/FRE because that's the only way they can pin everything on the government?

-raghu.

--
"Really ?? What a coincidence, I'm shallow too!!"

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References:
- [Pen-l] Stochastic calculus porn
  - From: Max Sawicky

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Thread context:
- Re: [Pen-l] microcredit in the global economy, (continued)
- [Pen-l] Stochastic calculus porn, Max Sawicky Thu 23 Oct 2008, 17:26 GMT
  - Re: [Pen-l] Stochastic calculus porn, raghu Thu 23 Oct 2008, 17:53 GMT
- [Pen-l] Greenspan Finds "Flaw"!, Sandwichman Thu 23 Oct 2008, 16:59 GMT
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  - Re: [Pen-l] Greenspan Finds "Flaw"!, raghu Thu 23 Oct 2008, 18:01 GMT
    - Complexity theory and unpredictability Re: [Pen-l] Greenspan Finds "Flaw"!, Chris Burford Sat 25 Oct 2008, 15:00 GMT

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