Tag Archives: Economics

A Federal Reserve Report says Economists Fail at Forecasting – Really?

Robert J Samuelson had a syndicated column recently reporting on a U.S. Federal Reserve study of the accuracy of Macro-economic forecasting.  The study looked at forecasts of “important economic” indicators such as unemployment, interest rates, gross domestic product and compared … Continue reading

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Unintended Consequences and Positive Results

In the previous post I tried to demonstrate how  unintended consequences on the part of a central government can have negative results.  Unintended consequences can sometimes have positive results.  Adam Smith used the term “invisible hand” in his work on … Continue reading

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It’s a Wonderful Life, the Rationing of Capital, and Economic Recovery

The movie “It’s a Wonderful Life” is shown every year at Christmas and we usually watch it.  This year was no different.  Mr. Bailey of Bailey Savings and loan is shown what life would be like if he hadn’t been … Continue reading

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College Costs have risen because of competition? And Government Help?

In the 1950’s and 1960’s I don’t recall a national rating system on how good colleges were.  High school guidance counselors and others had ideas on which colleges in their region of the country were good quality schools, but I … Continue reading

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The Definition of Insanity and the Fed

One of the definitions of “insanity” is to keep doing the same things over and over and expecting a different result.  The Federal Reserve Board has been keeping interest rates almost zero for more than 7 years now – longer … Continue reading

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Economic Issues & Elections

While trying to write some of my memoirs, I thought of some of my experiences as young engineering project manager in the Natural Gas Liquids Division of a major integrated oil company.  My first two projects had been building processing … Continue reading

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Oil Industry Nature and Econ – what investors should know – Part3

The term “peak production” with reference to oil and gas implies that we have exhausted the Petroleum supply in world.  It’s taken thousands of years to create the oil & gas we are using.  Some day we will probably exhaust … Continue reading

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