Cameron Ellis
1.2K posts
@cellis212
Assistant Professor in Finance at Iowa. I write about insurance markets and tweet about soccer. Opinions are those of some defunct economist.
Does collateral affect consumer borrowing? Collier, Ellis, & Keys (2025) examine US disaster loans, which only require collateral for loans above a threshold (e.g., $25K). Collateral requirements reduce credit demand but also default rates. econometricsociety.org/publications/e…
US credit card debt is now $1280 billion dollars — the highest ever in recorded history. Every single one of the 300 million Americans on average is now carrying 4000 dollars in credit card debt — growing at 30% per year!! Wow.
Economics is mostly a bullshit field of study. It is specifically for people who can do a little bit of stats and calc and want to feel smart but too dumb to study physics or math. Most economic theories are built like this: they start with an assumption about human behavior. Then without checking if the assumption is true, they will pile on layers of sloppy math on it and come to all sorts of conclusions that obviously don’t hold up in the real world. Recently a couple of economists won the Nobel Prize for being the first to realize that assumptions about human behavior must be tested and they went out and did some field work, and proved that a lot of assumptions in economic theories about how humans behave with money are well just not true. I was working at a bank for 2 years and saw firsthand that economics PhDs tend to be the dumbest. These people are completely alien to the idea of first principles thinking and treat axioms as if they were written in the Bible. Also they don’t really understand what an axiom is. Economics only exists because your average normie is easily impressed buy math and midwits in power are not scientific enough to realize that it is all voodoo and keep taking economists seriously. I don’t blame them though, at some point they hit an intelligence wall and the average economist brain is simply not equipped to have meta level thoughts about their own field of study. I guess this is one of those bullshit jobs like HR, therapy, astrology, project management that will just stay around for a while cause most humans are either mid or retarded.
UPDATE: The last attorney resigned on Monday, according to people familiar with the matter. That attorney has not responded to my requests for comment.
Trump: when you make it too easy and cheap to build houses, house prices come down. I don't want to do that.
Y'all my plastic surgery made me look moderately cuter. The feeling of seeing yourself more attractive in the mirror for the first time after the swelling finally fades is transcendent. You'll have to pry the scalpel from my cold dead hands.
Only team in the country that doesn’t get this decision, it’s unbelievable
