"Fiscal Cliff" Sanity

...from Bill McBride, here.

Interview with Andrew Smithers

I recently did a q-and-a with one of my favorite economists, Andrew Smithers, of Smithers & Co. in London. The topic is how much output goes to workers, and how much goes to owners of capital. Not the politics of this matter, but the economics. (Granted, these cannot be considered in every way separate.)

The interview went up at the PBS NewsHour website today, and the link is here.

What Smithers says is relevant to a recent post here about the width of profit margins.

Kind of Fun

Any day on which I can get one of my rhymes quoted in the first paragraph of an article in The Economist, is a fun day.

("Merle Hazard" is the alter ego name I use when writing a song or lyric about finance and economics.)

QE4, QE4S, etc.

Very nice piece of satire by Ritholtz about today's "we're going to keep printing" announcement from the Fed.

Euthanasia of the Rentier

Worthwhile thoughts on financial repression from James Montier of GMO.