Seeking Alpha

Chris Ridder

 
View as an RSS Feed
View Chris Ridder's Comments BY TICKER:
Latest comments  |  Highest rated
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    Going to the top of the article it appears Dr. Murphy might have been just using the Keynesian algebra to fright Krugman on his own grounds. Silly me for skipping to the quoted part first and not the beginning; I guess trying to do things to fast on a Friday afternoon before the weekend ;-)

    "Krugman Falls into the Keynesian Accounting Trap

    It's one thing to criticize Paul Krugman for his views on Austrian economics, but only a brave soul would have the temerity to question Krugman's discussion of the Keynesian approach to international trade, right? Since Krugman is the world's most famous living Keynesian, and he won the Nobel (Memorial) Prize for his work on trade theory, accusing him of a basic error on this score would be akin to telling Madonna she knows nothing of pop music.

    Even so, in a recent blog post Krugman's advocacy for deficit spending leads him to commit a basic fallacy when discussing economic output and trade. What's really ironic is that Krugman has previously exposed this particular fallacy when others made it! That the master Keynesian was vulnerable to such a naïve mistake justifies the Austrian warning that focusing on equations of aggregate variables is the wrong approach in economics."

    from mises.org/daily/3945
    Feb 11 06:35 PM | 5 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    It is a good question, the slowing down or convergence of growth rates. However, I was just responding to the numerical example given. Like I said it was just a brief reply and not meant to be a thesis on international macro economics :-)
    Feb 11 12:17 PM | 5 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    It would appear that throwing Bernanke into this discussion is a straw man argument.

    Rothbard's understanding of the question about monetary theory according to pdrub was the question. Having a PhD from an Ivy League school, such as Columbia, would I believe give an everyday person the belief that one would have the mental faculties and rigor to comprehend in a thoughtful way macroeconomics and central banking. That was the reason to point out Dr. Rothbard's education and explain that the short quote was not comprehensive of all his economic reasoning.
    Feb 11 05:31 PM | 4 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    Yes this could go on for a while when I reply and we get "Debunking the 'Debunking the 'Debunking the 'Debunking Myths of U.S. Collapse' Post' Post' Post" ;-)
    Feb 11 12:28 PM | 4 Likes Like |Link to Comment
  • European Banks Trading Below Tangible Book Value And Near 2009-Crisis Lows [View article]
    TAS is correct. One has to believe that the banks marks are accurate in order to trade below tangible book. The smart money does not.
    Jun 1 09:32 AM | 3 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    Here is my reply to Tim Ayles Ad Hominem response which deals with the facts and issues:

    seekingalpha.com/insta...
    Feb 17 01:38 PM | 3 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    My piece coming out will only attempt to discuss and analyze the topics and ideas in this article and the response to it. No overt Ad hominem attacks.
    Feb 14 08:23 PM | 3 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    this is before the quote from the article you mentioned:
    The Keynesian view says that one way to measure total economic output (Y) is to add up total spending on consumption (C), investment (I), government purchases (G), and net exports (X − M). This leads to the equation: Y = C + I + G + (X − M)

    Now I am not sure if Dr. Murphy is using this algebra because he believes in it or if he uses it to fight on Krugman's own ground and show him by his own rules, he is in error. Anyways, other Austrians write about the problems of the immense aggregation that the Keynesians use.
    Feb 11 06:28 PM | 3 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    pdrub of course I studied the typical Keynesian algebra. Can't go to the LSE and not study that stuff. You can see various Austrian objections at mises.org
    Feb 11 05:40 PM | 3 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    I think you meant to say Brent at a $16 prem. to WTI crude oil. I think it might mean the north sea is depleted much more than us Americans realize. So soon WTI will be physically arbed off to europe went the spread is high enough to cover the transportantion costs. Any physical oil traders out there to provide greater insight???
    Feb 11 04:09 PM | 3 Likes Like |Link to Comment
  • Gold Producers Least Bearish/Money Managers Most Since 2008 [View article]
    I like your reply. However, one time I saw the Commercials very net short and speculators very net long, in Coffee in the 1990's, and on the charts it looked like the scenario you described would occur again.

    Then, over the weekend a freeze occurred in Brazil and Coffee raced up towards $3 a pound. The Commercials were the big losers in this case.

    Just goes to show that Investing/Trading is never a "Slam Dunk".
    Feb 26 12:40 PM | 2 Likes Like |Link to Comment
  • Why Warren Buffett Would Want a Billionaire Tax [View article]
    I did write, "I don't know, maybe his motives are truly altruistic, however the effects will not be for the next generation of business builders."

    Also, why does someone over 80 wait until death to giver their wealth away? Why not give half of his 50 Billion away before he dies so that he can see the good done by it?
    Aug 17 03:30 PM | 2 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    mises.org/daily/5052/D...
    Mar 1 04:54 PM | 2 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    Here is my most recent piece:
    seekingalpha.com/insta...
    Feb 17 12:17 PM | 2 Likes Like |Link to Comment
  • Debunking the 'Debunking Myths of U.S. Collapse' Post [View article]
    I will have a more thorough response in another article, but until that is finished this will have to suffice.

    The author sates, "...I would challenge you to instead value the candy bar in hours of labor to obtain it." This is equating the value of something as being equal to the labor put in. I believe what the author meant to discuss was real wage rates, but because of the unclear writing the author stumbled into this fallacy.

    If we follow the statement "...value the candy bar in hours of labor to obtain it". The the price of the candy bar should be equal to exactly the same hour of labor for everyone. So let's say I have a job as a life guard at Newport Beach, you have a job at the sanitation department, and someone else is a professional football player. One can see how nonsensical this becomes when my hour of labor of watching girls at the beach is equal in value to an hour of your labor cleaning toilets, which is equal to an hour playing a football game. Now I know my example is different then the author's but it is consistent with the stated premise he uses.

    Notice the wage rate was left out of the article. Clumsy wording and not just plainly stating and discussing the well known economic theory of real wages left the position taken in the article open to criticism. I tried to show readers this by stating, "I only hope the author was intending to discuss real wages and unfortunately used poor wording that accidentally came out as in favor for the labor theory of value."
    Feb 14 05:11 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
168 Comments
75 Likes