I suppose many people here know him, but John Mauldin's economic reports are a great way to stay on top of things. Reality based things.
http://d21uq3hx4esec9.cloudfront.net/uploads/pdf/140920_TFTF.pdf
Interesting "letter"; lots of snazzy graphs and colors.
While he seems to make sense in some places, in others what appears to make sense is only half the story and is often made up. Here's an example of something totally made up for dramatic effect:
"'Rather than acknowledge the possibility that the current monetary and government policy mix might
be responsible for the protracted slump, Summers and his entire tribe cast about the world for other
causes. “The problem is not our theory; the problem is that the real world is not responding correctly
to our theory. Therefore the real world is the problem.'” That is of course not exactly how Larry
might put it, but it’s what I’m hearing."
This is just his opinion and a strange attempt to put unsaid quoted words into Summer's mouth. He even admits Summers didn't say it. That it's what he's "hearing." I wouldn't call that "reality based."
Here's an example of half the story:
"For example, almost everyone thinks
that the government’s being involved in student loans is a public good. We should help young people
with education, right? Except that John Burns released a report this week that shows that student
loans will cost the real estate industry 414,000 home sales. Young people are so indebted they can’t
afford to buy new homes. Collateral damage?"
What's left out is the alternative (and his solution), the alternative being no student loans, which would certainly end the debt burdened student . . . mostly because many of those students wouldn't be going to college. Plus, the thought process doesn't look into future home sales. Finally, he doesn't list out full numbers to back up his claim. It's awful hard to follow his financial transition from student loans all bunched together to one massive multi-billion dollar housing loss. He gives couple of percentages on one graph, but the other has nothing to compare to.
I guess my question about his letter addressing the bee in his bonnet (as he calls it), is what makes you think it is reality based? I see many places it's just opinion. Plus, isn't he advocating an economic structure aimed at the Fed that isn't being practiced?