By David Collum: 2015 Year In Review

My favorite annual economics review is now available for your enjoyment.

A couple of my favorite quotes…

What makes this all so absurd is that there isn’t even a good narrative bias. The 1995–2000 mania was based on a very cool, world-changing tech revolution not unlike the tech revolution of the 1920s. Being duped by the narrative bias was forgivable. The current global equity run, by contrast, is based on the assumption that a bunch of second-rate economists (but first-rate bureaucrats) running monetary policy using third-rate Gaussian models have our backs covered. And get this: they are going to help us with controlled demolition of our currencies because . . . wait for it . . . inflation is good, and they know exactly how much is optimal because they are omnipotent.

Companies are making corn dogs from their seed corn.

2015 Year In Review

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