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	<title>TheMoneyIllusion</title>
	<link>http://blogsandwikis.bentley.edu/themoneyillusion</link>
	<description>A slightly off-center perspective on monetary problems.</description>
	<lastBuildDate>Wed, 18 Nov 2009 22:46:12 +0000</lastBuildDate>
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		<title>India as #1</title>
		<description><![CDATA[Since I&#8217;ve been making a fool of myself with all these contrarian posts, I might as well get it all out of my system.  When Tyler Cowen asked me for my most absurd belief, one idea that I came up with was that India will have the world&#8217;s largest economy in the year 2109.
First let&#8217;s ask [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2950</link>
			</item>
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		<title>Interpreting the news</title>
		<description><![CDATA[I want to talk a bit more about the Chinese &#8220;bubble city&#8221; of Ordos, but do so indirectly, by discussing how I interpret news stories.  (First read the previous post.)  Unlike many other people, I don&#8217;t like to interpret news as &#8220;narratives,&#8221; instead I like to think in terms of numbers, and highly abstract economic [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2936</link>
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		<title>Say&#8217;s Law in China</title>
		<description><![CDATA[This video shows a brand new city in China with no residents, and has attracted a lot of attention.
In this video Gary Shilling takes a pessimistic view of China&#8217;s future.
In this video Mark Dow is much more optimistic.
Is China producing too much of everything?  Say&#8217;s Law says that&#8217;s impossible.  Then how about too much housing?  Perhaps, but [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2924</link>
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		<title>Memo to liberal pundits</title>
		<description><![CDATA[Since October 2008 I have devoted much of my life to educating people about the need for further monetary stimulus.   Thus I was pleased to see that in the past few days both Krugman and Yglesias have addressed the issue, although in somewhat different ways. 
It shouldn&#8217;t be hard to convince liberals of the need for more monetary stimulus.  So [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2914</link>
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		<title>Reply to Yglesias</title>
		<description><![CDATA[Last week I did a post that discussed a recent NYT article on the Dutch health care system.  The quotation I provided claimed that the Dutch health insurance industry is entirely private, with nothing like our Medicare, Medicaid, and VA plans.  I noted that conservatives would probably prefer this approach, even with universal health insurance coverage, [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2907</link>
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		<title>Check out Nick Rowe&#8217;s latest</title>
		<description><![CDATA[Nick&#8217;s one of the most creative thinkers in the field of monetary economics.  This post is brilliant.  We need more people thinking outside the box, and less doing VAR studies.
]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2904</link>
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		<title>Five months ago I warned Krugman this would happen</title>
		<description><![CDATA[In a post written on June 14th, I warned Krugman that it was foolish to play politics; he should just advocate the policy that is most effective:
As I read Krugman, his attitude seems to be something like the following (which is my interpretation, not his words):
“Ah, what a pity it is that these conservative central [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2892</link>
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		<title>What dilemma?</title>
		<description><![CDATA[The Financial Times is a very respected newspaper, so I guess there must be some logic to this column.  But I confess I have no idea what this Belgian professor is talking about.  First prize to someone that can explain this to me.
The dilemma for the US authorities now pops up in the following way. The [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2886</link>
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		<title>&#8220;A serious mistake?&#8221; Yeah, I&#8217;d say so.</title>
		<description><![CDATA[Here is a long passage from pp. 33-36 of a November 2009 paper by Woodford and Curdia, which describes a 2003 paper by Woodford and Eggertsson (you&#8217;ll need to open the PDF):
Eggertsson and Woodford show that it can be a serious mistake for a central bank to be expected to return immediately to the pursuit of its normal [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2872</link>
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		<title>But I thought . . .</title>
		<description><![CDATA[1. I thought the weak Chinese yuan was stealing business from American firms:
Here&#8217;s today&#8217;s report on the rising US stock market. 
NEW YORK (Reuters) &#8211; Blue chips rose for a sixth day, capping their longest winning streak since August on Wednesday, as an upbeat forecast from a top homebuilder and data from China pointed to a strengthening global [...]]]></description>
		<link>http://blogsandwikis.bentley.edu/themoneyillusion/?p=2865</link>
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