Pragmatic Capitalism

Practical Views on Money, Finance & Life

My Favorite Posts from 2013

Whew.  What a year.  I wrote a lot of words.  Some smart.  Some stupid.  I tried to provide kernels of knowledge and useful information where I could.  Unfortunately, out of the hundreds of posts here there were probably only 20 or so that were really worth reading.  I’ve probably overlooked a few, but here are a few of my favorite ones from 2013:




  • Understanding the Savings Portfolio – My concept of the Savings Portfolio is an important concept in portfolio construction that I hope more and more people will better understand when constructing their own portfolios or hiring someone else to construct portfolios for them.




  • Understanding Moneyness – One of the more improtant pieces I wrote this year and a helpful addition to my paper on the monetary system about understanding the concept of “moneyness”.



  • Credit IS Money – Another important monetary system piece in which I explain why credit is money.




  • For the seriously wonky (and bored), my back and forth with Paul Krugman:

Cullen Roche: The Failure of the IS/LM Model in Predicting the Crisis

Paul Krugman: Banks and the Monetary Base

Cullen Roche: Banks and the Monetary Base – A Friendly Response to Paul Krugman

Paul Krugman: The Monetary Base, IS-LM, And All That

Cullen Roche: Economath: economics – IS/LM – Krugman Cross = Win

Paul Krugman: Banks as Creators of “Money”

Cullen Roche: Banks are Special – the Ins and Outs of Money



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