|I've just finished catching up the last few months' posts. Glad to see Grace and the rest of you are doing well.|
I've been utterly fascinated by the politics of the last year and a half, which I think has been the most interesting political period since the Berlin wall came down.
I've come across a couple of things which might interest some of you.
One is the work of Steve Keen which reforms the standard macro economic model used by the majority (+95%) of economists. He has a lot, really a lot, of his lectures posted at YouTube. I think our late host, who I miss sorely, would approve of him.
Keen's just published a nice little book, "Can We Avoid Another Financial Crisis?" (Answer:Yes we can but we won't.)
Of the myriad YT lectures this one is pretty representative although very general. If you watch, do it full screen and be prepared to stop so you can look at the pix.
From the POV of investment strategy, I suppose one important thing that comes apparent is the importance of private non financial company debt of businesses and individuals, its proportion of GDP, and rate of growth positive and negative. It can't do exact prediction of tops and bottoms or when, but it does give an objective indicator of how risky the territory is.
If you're in politics it's good because it would give you realistic economic visibility.
The Economic Crisis And The Crisis In Economics