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The economic problem is about there being too much information that’s too dynamic to aggregate — however, per Hayek, the price system *also* fails to aggregate that information because it is in fact too much that’s too dynamic. It’s just kind of a “trust me — it’s the relevant information”
https://infoeqm.substack.com/p/on-hayeks-the-use-of-knowledge-in
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forecasting an increase in "core" U3 (U3 minus temporary layoffs), but *no idea* how much — best guess based on JOLTS data is that we eventually reach the pre-stimulus equilibrium (gray band with dashed line) and start to fall back down. Incidentally that is what the average of the monte carlo does.
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Ad hominem, for lack of a better word, is good
https://infoeqm.substack.com/p/ad-hominem-for-lack-of-a-better-word
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New substack: Polycrisis, complex systems, and trust
https://infoeqm.substack.com/p/polycrisis-complex-systems-and-trust
There is something to the idea of a new kind of systemic failure — polycrisis — arising from complexity of human institutions.
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The economic problem is about there being too much information that’s too dynamic to aggregate — however, per Hayek, the price system *also* fails to aggregate that information because it is in fact too much that’s too dynamic. It’s just kind of a “trust me — it’s the relevant i…
forecasting an increase in "core" U3 (U3 minus temporary layoffs), but *no idea* how much — best guess based on JOLTS data is that we eventually reach the pre-stimulus equilibrium (gray band with dashed line) and start to fall back down. I…
jolts data out today — looks like we are nearing the end of this shock and returning to the equilibrium rate of increase, but at a lower level than the projected pre-pandemic equilibrium
Ad hominem, for lack of a better word, is good
https://infoeqm.substack.com/p/ad-hominem-for-lack-of-a-better-word
It's a big post with a lot more: the noise floor ending, labor force participation reaching new highs, and hours worked appear directly linked to wages
Apparently twitter is now blocking substack; here's my latest about a possible recession signal in the "core" unemployment data (U3 minus temporary layoffs)
https://infoeqm.substack.com/p/employment-situation-core-unemployment
New substack: Polycrisis, complex systems, and trust
https://infoeqm.substack.com/p/polycrisis-complex-systems-and-trust
There is something to the idea of a new kind of systemic failure — polycrisis — arising from complexity of human insti…
People saying "where's this purported recession?" but seems from the data it shouldn't be showing up quite yet anyway. Next few months would be more informative, but right now it's just uncertainty.
guess this is throwback thursday lol
Latest data basically showing the same story of macro conditions as the past several months. Post-stimulus positive shock fading and negative shock visible in JOLTS not yet translating to other observables (except possibly wage growth). In…
Moved office recently and this little book was resting on top of a pile of others. Until the advent of wikipedia, it was probably the most frequently opened book in my life from the 90s to the early 00s. No larger message; just props to a …
Substack has LaTeX now
https://twitter.com/SubstackInc/status/1615409306685550594?s=20&t=JfetUyS-Bou12Qdx7s3Klg
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