^TagCOVID-19 Recession

Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

^{Type
post

Author
News
Date
October 10, 2020

Categorized
Business and Finance, Global Technology

Tagged
Amazon, Bill Gates, bitcoin, Coronavirus, COVID-19, COVID-19 Recession, Facebook, Featured, Gary Smith, Jack Dorsey, Libra, Warren Buffett}

Has COVID-19 Helped or Harmed Crypto and Blockchain?

_{Cryptocurrencies rebounded after an initial slump earlier this year} _{News

October 10, 2020

5

Business and Finance, Global Technology}

The recently aired discussion at COSM about the future of bitcoin and other privately minted cryptocurrencies took place last October, before COVID-19 was much thought of in the Western world. Catching up, the cryptos and blockchain had a rough ride earlier this year but they have stabilized recently. In February, as the pandemic sent markets scurrying, things were looking grim for the cryptos: During the last week, the spread of the coronavirus has been all over the news; the virus, which had remained well-contained in China, spread throughout South Korea, Iran, Italy, and is now reaching its fingers into other parts of Europe. The New York Times reported on Thursday that “the signs were everywhere…that the epidemic shaking much of Read More ›

Bull market trend, green growth arrow. Stock Exchange and concept of a trading chart. Low poly, wireframe 3d Raster illustration. Abstract polygonal image on blue neon background

^{Type
post

Author
Gary Smith
Date
August 28, 2020

Categorized
Artificial Intelligence, Business and Finance

Tagged
AI and prediction, COVID-19 Recession, Featured, Recession, stock market, Stock market predictions}

The Stock Market Keeps Rising Despite COVID. Is It Nuts?

_{I’ve been asked whether advanced AI can explain the conundrum} _{Gary Smith

August 28, 2020

7

Artificial Intelligence, Business and Finance}

What is going on? Our GDP has collapsed and 16 million people are unemployed. Thousands of small businesses and dozens of billion-dollar companies have gone bankrupt, including California Pizza Kitchen, Hertz, JCPenney, Neiman Marcus, and Brooks Brothers. Yet, the stock market keeps hitting all-time high after all-time high. The stock market is supposed to be related to the economy. When the economy booms, corporate profits explode; when the economy collapses, profits crater. That’s what happened during the Great Depression when stock prices fell 90 percent and the unemployment rate averaged 19 percent for a decade. Now, stocks and the economy are moving in opposite directions. What is going on? A friend who knows that I live, breathe, and teach investments Read More ›

^{Type
post

Author
Gary Smith
Date
August 3, 2020

Categorized
Business and Finance, Science

Tagged
2001 Recession, COVID-19 Recession, data, employment, Featured, General Theory (book), Great Depression, Great Recession (2007-2009), John Maynard Keynes, Macroeconomics, New Classical Economists, Theory, Unemployment}

Beware of Geeks Bearing Formulas—It’s Often Pseudoscience

_{Pseudoscience based on data without theory and theory without data undermine the credibility of real science, which is the key to human progress} _{Gary Smith

August 3, 2020

6

Business and Finance, Science}

Elsewhere I have warned of the perils of making decisions based on data without theory. For example, the patterns discovered by data-mining computer algorithms are often nothing more than meaningless coincidences. It is also perilous to go to the opposite extreme—to make decisions based on theory without data. Once upon a time, for example, economists were fond of sketching labor demand and supply curves and assuming that the economy was at their intersection. That is, labor demand is equal to supply, so that everyone who wants to work is working. The unemployed have chosen to be unemployed because they value leisure more than income. True believers were fond of this theory and little troubled by reality. Between 1929 and 1933, Read More ›