Nobel prize winner Paul Krugman may say it’s econ 101 to have the authorities spend more in recessions, and I concur, but it is also wrong. The highly thorough yet ultimately naively simplistic macro models have not been useful in rectifying this incorrect intuition, which remains dominant. Eliminated are the full days like in 1920, when throughout a nasty recession, the government cut costs by half from 1920 to 1922, and the economy rebounded properly.

Historically, if we are in a recession, economists generally call for more fiscal spending, all the better if it’s deficit financed. This always seemed a bit strained, but it highlights a whole great deal of models I see, where one evaluates a model predicated on it having the ability to generate result with similar ‘occasions’: means, variances, covariances. Note how totally irrelevant the representative agent model was to the latest recession.

No one feels some mechanism, outlined by the representative agent framework, was important really. The worst thing is the focus upon mathematics can allow a researcher to avoid these nagging problems, because there’s always the hope that even if one’s model dies, the mathematical techniques used in creating it shall live on.

It allows one to revel in rigor, and dismiss any particular model’s empirical failures. Many economists I think imagine being like string theorist Ed Witten: Fields Medal winner and inventor of understanding an applied subject matter (not coincidentally, an untestable theory). The insiders will say, you’re only a player-hater and don’t understand aside from appreciate the math.

It’s true critics won’t understand the tools as well as the true believers, because if you think it’s a waste materials of time, you are not going to get really good at these tools. So the important thing is, do they create useful predictions? Do large banks hire top-level macroeconomists? No no. Hard primary macroeconomic theory has been irrelevant to the latest recession fairly, as it’s been always. For example, the stimulus bill was debated by famous economists Paul Krugman (trade theorist), who argued for government spending money on anything, and Robert Barro (macro theorist) saying the government should cut taxes.

Foley Acquired Convertible Notes for NTEK and NTGL Stock. 689,500. However, most of these notes weren’t reflected in NTEK’s financial statements. RESPONSE: The allegations established in paragraph 37 relate to Mr. Foley, and therefore do not require a response from Defendants. In the choice, Defendants deny the same. 0.0001 per share, so long as the shares from such a conversion would be significantly less than 10% of NTEK’s outstanding common stock.

Foley began switching his records into an incredible number of stocks of NTEK stock through River North. 50,000, which previously have been released to another person. Foley controlled, which became NTGL later. However, that contractor hadn’t performed such work. 0.0005 per talk about, if the debt had not been repaid within a yr and if share ownership following the conversion remained less than 10% of the company’s exceptional common stock.

  1. Sales Taxes
  2. Why do we have sub-par performance from our staff? Training is insufficient
  3. Investment Research
  4. Has its price dependant on market makes
  5. Support smaller businesses and their contributions to our areas and our overall economy
  6. Evaluating the capability to pay current liabilities
  7. The signature on the response notice dated 13th March, 2019 was forged

Foley as directors of each corporation. He designated his NTEK convertible records to Royal Capital then, and assigned the HVEL notice he had obtained to Galaxy Entertainment. Foley were its co-owners. RESPONSE: Defendants are without sufficient knowledge or information upon which to create a belief as to the truth of the allegations set forth in paragraph 42, and for that reason refuse the same and leave Plaintiff to its proof. Foley began selling millions of shares of NTGL and NTEK stock to River North and Liceaga, the company’s owner and president.

44. According to River North’s website, its primary business was buying small and micro- cap businesses and providing versatile funding constructions for small and micro-cap businesses and securities. From its inception in 2013, River North sought out and purchased penny stocks from holders of convertible personal debt instruments, including at microcap industry conferences, and then sold those stocks on OTC Link.