Posted by: The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

19 responses to “Reader-Suggested Economics Blogs”

  1. Magnolia44

    Zerohedge and Market Ticker. Karl tends to get a little out of hand at times so i have been going there only on occasion to see his viewpoint. Zerohedge every day multiple times a day.

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  2. Scotsman

    “Economists today primarily serve the needs of powerful interests at the expense of society in general” is how Robert Johnson – the frighteningly honest Executive Director of INET – describes the self-indoctrinating field of study that remains in such seemingly high regard in the nation.”

    ” “At the core, economics is about politics and about power, and the question for the economists is whose power are you going to serve as an expert.”

    Is he talking about Krugman? Yes, I think he is- among others.

    http://www.zerohedge.com/news/economists-what-or-who-are-they-good

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  3. Updog

    Alex Jones Infowars !?! Didn’t know this guy was still around or that he even has readers.

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  4. pfft

    By Scotsman @ 2:

    “Economists today primarily serve the needs of powerful interests at the expense of society in general” is how Robert Johnson – the frighteningly honest Executive Director of INET – describes the self-indoctrinating field of study that remains in such seemingly high regard in the nation.”

    ” “At the core, economics is about politics and about power, and the question for the economists is whose power are you going to serve as an expert.”

    Is he talking about Krugman? Yes, I think he is- among others.

    http://www.zerohedge.com/news/economists-what-or-who-are-they-good

    so what power interests is Krugman representing? the people when he says we need less unemployment.

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  5. Scotsman

    RE: pfft @ 4

    “(S)o what power interests (are) Krugman representing? (T)he people(,) when he says we need less unemployment(?)”

    This isn’t as simple as it seems. Krugman plays to the people, but at the behest of the NYT and the interests they represent, generally big money and banking. Krugman pushes Keynesian solutions- more .gov stimulus and expansion- under the guise of helping the average Joe. But the reality is that stimulus money has only helped .gov expansion and its cronies, capitalized the failing banks, inflated the equities markets and boosted inflation in food and energy. Net/net, I’d say the harm has been greater than the gains for the man in the street. But lots of loyal lap dogs lap it all up. See the pic above. Is that you, pfffffft?

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  6. whatsmyname

    RE: Scotsman @ 5
    “Net/net, I’d say the harm has been greater than the gains for the man in the street.”

    Yes, but what about the man who would have been in the street? Not to mention the women and children.

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  7. Eastsider

    Krugman has been pushing QE for both US and Europe for a long time. So after so many rounds of bailing out Greek debts and a couple rounds of LTRO, the Greece situation has only gotten worse. Had Greece (and the other PIGS) followed Iceland’s footsteps at the beginning, they would be out of the woods by now.

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  8. ricklind

    http://www.websterscommentaries.com/ is good as well.

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  9. Jonness

    By Scotsman @ 5:

    RE: pfft @ 4

    “(S)o what power interests (are) Krugman representing? (T)he people(,) when he says we need less unemployment(?)”

    This isn’t as simple as it seems. Krugman plays to the people, but at the behest of the NYT and the interests they represent, generally big money and banking. Krugman pushes Keynesian solutions- more .gov stimulus and expansion- under the guise of helping the average Joe. But the reality is that stimulus money has only helped .gov expansion and its cronies, capitalized the failing banks, inflated the equities markets and boosted inflation in food and energy. Net/net, I’d say the harm has been greater than the gains for the man in the street. But lots of loyal lap dogs lap it all up. See the pic above. Is that you, pfffffft?

    The U.S. govt. borrows about $1.5 trillion/yr, and the associated rise in GDP has been far less than that. IOW, we are not seeing any velocity created out of this borrowing and spending strategy. Sure, it is temporarily blinding people into believing things are getting better. But the big question is, what would happen if interest rates were to go to 10%? Well, the U.S. Government would not be able to make it’s interest payment and have to default on (restructure) its debt.

    As long as we can keep printing, things will seem OK. But if and when investors lose faith in our currency, it’s over.

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  10. Jonness

    By whatsmyname @ 6:

    RE: Scotsman @ 5
    “Net/net, Iâ��d say the harm has been greater than the gains for the man in the street.”

    Yes, but what about the man who would have been in the street? Not to mention the women and children.

    Perhaps the man who would have been on the street has been temporarily saved. But his kids will suffer a price for this far beyond what he or they could have ever dreamed of having to pay.

    You can’t simply borrow recklessly and hide forever. Sooner or later, the loan sharks are going to show up at your door step and take your children hostage.

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  11. Kary L. Krismer

    By Eastsider @ 7:

    Krugman has been pushing QE for both US and Europe for a long time. So after so many rounds of bailing out Greek debts and a couple rounds of LTRO, the Greece situation has only gotten worse. Had Greece (and the other PIGS) followed Iceland’s footsteps at the beginning, they would be out of the woods by now.

    I can’t really keep up with all this. The United States is Japan. Greece could have been Iceland, but isn’t. Is there a list some place of which countries have identical situations so that we could know when the same course of action or future would apply?

    Oh wait! Seattle was San Diego 18 months delayed. These theories are all bull.

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  12. Ira Sacharoff

    You forgot Dean Baker. He’s right more often than wrong, funny, and readable.

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  13. Matt

    More of a personal finance blog, but I’ve found Budgets Are Sexy – http://www.budgetsaresexy.com/ – to be a good combo of hilarious, entertaining and informative.

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  14. Jason

    Infowars is not an economics website, it is a paranoia, conspiracy, racism site.

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  15. WestSideBilly

    By Eastsider @ 7:

    Krugman has been pushing QE for both US and Europe for a long time. So after so many rounds of bailing out Greek debts and a couple rounds of LTRO, the Greece situation has only gotten worse. Had Greece (and the other PIGS) followed Iceland’s footsteps at the beginning, they would be out of the woods by now.

    Iceland isn’t stuck on the Euro like Greece is. Having your own currency allows you to have many more choices. And they chose to let their 3 major banks fail (easy choice since they had debts that were 5 times Iceland’s entire GDP) and devalue their currency + large inflation (18% in 2008, 7.5% in 2009). Plus Iceland was heavily Keynsian in 2009 and 2010 – borrowing large amounts of money, followed by a string of budgets that raised taxes to pay for it, and imposing laws to prevent banks from getting that far in the hole again.

    So, basically they did the exact opposite of what Europe is doing now and what Japan did in the 1990s, and a much more vigorous version of what the US did – in other words, Iceland is basically what Krugman was pushing (with the exception of letting all the banks fail in 2008).

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  16. badpelican

    Why does the photo of Krugman show him holding a purse with a small dog in it?

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  17. Kary L. Krismer

    RE: WestSideBilly @ 15 – It’s on! Eastside vs. Westside. ;-)

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  18. whatsmyname
  19. 2kt

    RE: Jonness @ 10

    If you ever had a chance to visit a country where things went in the direction you so much advocate for, you’d probably have much less enthusiasm for the “solutions” you champion.

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