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Under Construction

Pardon the dust (it’s a good thing you have that N95 face mask handy)! A lifetime ago, I had a blog named “fling93 loves fishies.” I’d like to think that it was much better than the rather hastily-chosen name indicates, as I prided myself on my measured arguments backed with thoughtful reasoning and quality sources.… Continue reading Under Construction

The Causes of the Financial Crisis

As I see it, the main cause was systemic, namely the securitization of mortgages (e.g., CDOs). This means mortgages being repackaged by lenders and resold to other investors who wanted the income from the monthly payments. This was first done in 1970 by the Government National Mortgage Association (GNMA or Ginnie Mae), but securitization didn’t really start taking… Continue reading The Causes of the Financial Crisis

Why Can’t Economics Accurately Predict the Timings of Recessions?

It boils down to two main reasons: The problem is extremely difficult. The field of macroeconomics has been corrupted by politics. Regarding the first problem, it’s an issue of complexity. Just like molecules do not act like sums of atoms (and thus chemistry bears little resemblance to physics), humans do not act like sums of… Continue reading Why Can’t Economics Accurately Predict the Timings of Recessions?

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