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- @Macrotots Yep, Its the what have you done for me lately mentality. Also Dems will argue Obama deficits were necessary to get us out of recession, but that Trump deficits caused problems as the economy was growing when they were run up.
- @RJChancey Times are not very good. That is exactly what Republicans were claiming just before the 2008 financial crisis. We are actually in worse shape now than we were then, and headed for an even greater economic crisis.
- Given how large past #Republican deficits have been relative to the initial rosy projections when the goal was to balance in 10 years, imagine how much further off the mark #Trump's deficits will be when even the pretense of eventual balance has been dropped!
- The higher Dec. trade deficit likely mean last quarter's low #GDP number will be revised even lower. It also likely means that GDP growth for all of 2017 may be less than the average annual growth rate experienced during Obama's 2nd term. But hope springs eternal for 2018.
- June factory orders rose 1.8%, but fell year-over-year for the 8th consecutive month, the longest losing streak ever outside of a recession!
- (1/2) Global stock markets are now nearly as oversold as at the market low in October 1987. Expect a powerful and tradable rally of 20% or so from here. Cover all shorts and go long the most oversold stocks. However, do not expect new highs.
- Ron Paul's Economic Myth Busters: Inflation & Capital Creation @SchiffGold http://bit.ly/1NosMPY
- Former Dallas Fed Pres. Richard Fisher throws former colleges under the bus in CNBC interview. He said "don't blame me I voted against QE3"!
- Malinvestment and the Austrian Business Cycle, as explained by Yogi Berra
- What should The Big Short have said about the Fed or Fannie/Freddie?
Wednesday, April 6, 2016
synthetic a priori truths
I'm reading Christopher Chase Rachels' new book "A Spontaneous Order", which makes the case for anarcho-capitalism and discusses praxeology and Austrian economics at length. In the first chapter, on praxeology, he claims that Misesian action axioms are the only examples of synthetic a priori truths, but it seems to me that the whole field of mathematics involves synthetic a priori statements. Mathematics is deductive, not inductive, but its a field of inquiry because not all mathematical statements are obvious from the basic definitions of mathematical operations and numbers; they require a lot of work to tease out the implications of these operational rules. Is there something fundamentally different between action axioms and mathematical reasoning?