Disciplined Systematic Global Macro Views

An interesting discussion on Brad Delong’s blog posted a comment on the hangover theory of financial crises by Paul Krugman. Worth a look. It makes a good comment about how many to make a market bust a morality play often. Bad things happen to bad people who try to get greedy in financial markets. We party hard through the boom and there is a price that will have to be paid by everyone. We already see this story unfolding in the press. The consumption portion of the Krugman tale is a bit more problematic. Investments creates wealth if the worthiness of the investment goes up. These investments are valued or costed based on their use throughout the market.

If they are no longer productive, you will see a drop in the value associated with this investment that may decrease the wealth of consumers. This prosperity effect changes in consumption in the bust portion of the cycle. It isn’t a switch between trading or consuming. The hangover theory is seductive–not because it offers a simple way out perversely, but because it doesn’t.

It transforms the wiggles on our charts into a morality play, a tale of the downfall and hubris. The total result is a slump whose depth is in proportion to the previous excesses. Moreover, that slump is area of the necessary healing up process: The excess capacity gets worked off, prices and wages fall using their excessive boom levels, and only then is the economy prepared to recover. But … Read more...

What Does A Yellow Concealer Do?

What Does A Yellow Concealer Do? Yellow concealer is a color that should be in every woman’s makeup package. It’s the go to makeup color that you can get to cover up a number of problems. What’s important to understand is that it’s not simply one color, there are a variety of shades ranging from pale yellowish to tan.

Try a few makeup tips for using it and you’ll see just what congrats it can do in canceling out those pesky imperfections that keep you from attaining a flawless makeup look. You may be wondering, “What does yellow do?” Yellow colors, whether pale yellow, deep orange, or tan are used in the industry because they cancel out other colors. They’re fundamentally the first layer of the color before a far more normal flesh shade is applied over it. It could be as simple as a two-step process.

You cancel out the color and then apply the main one you want. Because if you don’t block out the color from the staining, you’ll start to see the shade through your base. So, you’ll see dark circles in the tone of gray that comes up. It will appear like a shadow. In makeup color theory you use the opposite, or complementary color, to be able to diminish the discoloration.

You can do something as simple as cover light under eyesight circles or even go so far as to totally disguise tattoos with methods for tattoo cover ups. In the event that you … Read more...