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Kenneth Duda
Works at Arista Networks, Inc.
Attended Stanford University
Lives in Menlo Park, CA
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Kenneth Duda

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A very good explanation of what is right and what is wrong with monetary policy.
Ben Bernanke has a good post on the Taylor Rule. Let's start at the end, where he argues in favor of decision-making by the FOMC, rather than a rigid mechanical policy rule: Monetary policy should be systematic, not automatic. The...
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One thing I'd love to see more of is discussion of the ethics of monetary policy. I'll post separately, since it's tangential to these articles.
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The truth behind California's water issue: it's economics and politics.
The New York Times does not believe in creationism. They believe in evolution. They look down their noses at people who do believe in creationism. But when it comes to the social sciences, the Times believes in creationism, that is, they believe in theories that appeal to kindergarden-level ...
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It seems like the Times is conflating the Bay Area's serious NIMBY / lack of housing density problems with the water crisis that's driven primarily by the sparsely settled central valley.
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Some good detail on Netflix's content distribution architecture.  (I'm proud our 7500 switch is a part of it.)
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You can always count on Vox for the smartest analysis.  The Obamacare case is truly weird.
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Here, David Beckworth points out that the Eurozone crisis does not fit the too-much-debt narrative either, and in fact, bad monetary policy is the primary cause of a shocking amount of needless suffering.
Imagine the ECB had not raised its interest rate target in 2008 and 2011, but had lowered it. Also imagine the ECB began its open-ended QE program back in 2009. Would there now be a brighter future for the Eurozone? If the an...
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What's the real story of the 2008 crisis and the following depression?  Hint: it's not greedy bankers, loose regulators, and irresponsible borrowers.  Sorry.
As far as I can tell, just about everyone agrees on the following series of events: 1) House prices driven up by predatory lenders, or public pressure to expand home ownership, or both, pushed low income households in homes t...
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Yes, thank you.
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Kenneth Duda

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When you understand why all seven of these "common sense" ideas are wrong, you'll understand more about money than most people --- and you'll cringe (as I do) every time you hear "news" on fiscal or monetary issues, as the left and right manage to both be wrong about nearly everything.
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But hey, even famed economist/adult contemporary singer Michael Bolton gets the role of the IRS completely wrong.
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John Oliver's latest fantastic combination of comedy and commentary.
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Smartest fixed-income investment analysis I've seen anywhere.  Here is the key paragraph:
===========================
 I think we are looking at a bifurcated fixed income market, where bonds earn very low returns, and homes earn 5% or more, plus capital gains.  I think the Fed Funds rate could be anywhere from 0% to 2% in this context without affecting monetary expansion that much, one way or the other.  Because, the industrial economy is a high rate economy right now, but there is a surplus of capital, because there are too many frictions preventing it from getting into real estate quickly enough.  But, when real estate can expand - probably early to mid 2016 - look out.  Natural interest rates will be flying - both real and nominal.
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Since the mortgage credit market has been stagnant since 2007, changes in US household equity levels have been almost purely a product of home market values.  Here is a chart comparing home prices and equity.  QE3 facilitated...
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This is interesting only to people who really think about aggregate economic numbers, but if you're one of them --- this post points out a common fallacy of dividing a number like total income by a deflator like the CPI, which is apples and oranges.  The only deflator that makes sense for GDP is the GDP deflator.  Sounds obvious once you say it, but Sumner catches Krugman making the error and reaching a seriously wrong conclusion.  Median real incomes (when properly deflated) have been rising, not falling, over the last 20 years.  Which really matters to the income inequality debate.
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This is why I wondered if the shift away from pensions is influential.  Remember that this shifts inflation risk to a larger segment of the population and away from the rentier class.
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This is pretty funny, if you're following the Greek drama.
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+kssgpv "Sarcastic" is a word of Greek origin as well...

Also Rap comes from the Greek Rapsody (Ραψωδία)...
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The Fed made a colossal blunder in failing to expand the money supply in September 2008, two days after Lehman failed.  This transcript is unbelievable.  Here is a sample:

===============================
MR. DUDLEY. “The Committee will carefully evaluate economic and financial market developments.” That means you are on the case.

CHAIRMAN BERNANKE. Well, it is not an analytical thing we are doing. We are just watching closely.

MR. WARSH. Keenly? Carefully?

MR. LACKER. Mr. Chairman?

CHAIRMAN BERNANKE. Yes. President Lacker.

MR. LACKER. Including “closely,” what does that imply about the opposite? I mean,
are we going to be able to take that out?

MR. WARSH. Well, we have done things like “in a timely manner” and other kinds of
phraseology.

MR. LACKER. Yes, but this is an adjective.

CHAIRMAN BERNANKE. No, it’s an adverb.

MR. LACKER. There goes my credibility. [Laughter] 
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Damn straight.  Unfortunately, Lacker's grasp of monetary economics is even worse than his grasp of grammar.  But, we can be glad that Bernanke was successful in helping him with the latter, if not the former.
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Chris Christensen's profile photo
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Work
Occupation
Software Engineering
Employment
  • Arista Networks, Inc.
    CTO, SVP Software, 2004 - present
  • There, Inc.
    CTO, 1999 - 2004
  • Cisco Systems, Inc.
    Software Engineer, 1995 - 1999
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Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Menlo Park, CA
Previously
Cambridge, MA
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Software guy
Introduction
I love programming, especially systems programming of the Linux/C++/kernel/networking flavor.  I run the software team at Arista Networks.  I am deeply concerned about the state of the US economy and what we should be doing to improve monetary policy.  I'm married to Jennifer Duda and have two kids, Molly and Sophie.

Contact me at kjd@duda.org.


Education
  • Stanford University
    Ph.D., Computer Science, 1993 - 2001
  • Massachusetts Institute of Technology
    BS, MS, Computer ScienceComputer Science, 1988 - 1993
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Other profiles
Kenneth Duda's +1's are the things they like, agree with, or want to recommend.
Robots, committees, or markets? | EconLog | Library of Economics and Lib...
econlog.econlib.org

Ben Bernanke has a good post on the Taylor Rule. Let's start at the end, where he argues in favor of decision-making by the FOMC, rather tha

The road to a housing recovery
idiosyncraticwhisk.blogspot.com

Since the mortgage credit market has been stagnant since 2007, changes in US household equity levels have been almost purely a product of ho

The bizarre way economists calculate real income | EconLog | Library of ...
econlog.econlib.org

Over the years I've argued that economists are horribly confused about the concept of

The Eurozone Counterfactual
macromarketmusings.blogspot.com

Imagine the ECB had not raised its interest rate target in 2008 and 2011, but had lowered it. Also imagine the ECB began its open-ended QE p

Housing Tax Policy, A Series: Part 8 - The crisis didn't happen the way ...
idiosyncraticwhisk.blogspot.com

As far as I can tell, just about everyone agrees on the following series of events: 1) House prices driven up by predatory lenders, or publi

TheMoneyIllusion » My new career
www.themoneyillusion.com

I have spent the past 6 years trying to do two jobs at once, my teaching job at Bentley and lots of blogging/writing/speaking on monetary re

What Do John Cochrane, Paul Krugman, and Scott Sumner Have in Common?
macromarketmusings.blogspot.com

What do John Cochrane, Paul Krugman, and Scott Sumner have in common? A lot more than you think. It would be easy to conclude otherwise base

Tribal Reality and Extant Reality
noahpinionblog.blogspot.com

(This is adapted from a rather silly speech I like to give to my finance classes when the slide projector breaks. Warning: includes blatant

Content economics, part 5: news
blogs.reuters.com

The conception of what counts as news is going to get broader. It will include living articles of the kind that Klein is talking about; it w

Best of Interop 2013 Winners Announced - Network Computing
www.networkcomputing.com

The Best of Interop award recognizes innovation in eight tech categories, including networking, cloud, security, mobility and more. Winners

Subway Surfers
market.android.com

DASH as fast as you can! DODGE the oncoming trains! Help Jake, Tricky & Fresh escape from the grumpy Inspector and his dog. ★ Grind trains w

When does fiscal stimulus work?
www.economist.com

RECOVERIES around the world are looking less certain than they did a few months ago, and this has prompted a new round of calls for addition

Mein Unbehagen mit Quasi-Monetarismus / My Discomfort with Quasi-Monetarism
kantooseconomics.com

English Ein Gastbeitrag von Henry Kaspar Regelmäßigen Lesern dieses Blogs wird der Begriff "Quasi-Monetaristen" ein Begriff sein: eine

Searching for a pot of gold
www.economist.com

Readers suggest some alternative economic indicators  A FEW weeks ago The Economist invited readers who enjoy our Big Mac index to invent o

Dennis Ritchie: The Shoulders Steve Jobs Stood On | Wired Enterprise | W...
www.wired.com

The tributes to Dennis Ritchie won’t match the river of praise that spilled out over the web after the death of Steve Jobs. But they should.

Coding Relic: NVGRE Musings
codingrelic.geekhold.com

NVGRE Musings. Email ThisBlogThis!Share to TwitterShare to Facebook. It is an interesting time to be involved in datacenter networking. Ther

Martin Wolf: Please, Please, Please, Please Listen to the Bond Market
delong.typepad.com

I cannot be the only person who fears that the situation we are in is causing Martin Wolf's mind to crack. I hope the *Financial Times*

What To Do About Jobs?
delong.typepad.com

My talk from August 31, 2011: It is hard to talk about macro right now. It is hard, in large part, because virtually all of us macroeconomis

The food is tasty, the people are nice, and the prices are very reasonable. There's a small outdoor dining patio (no indoor dining area). We had the cheese ravioli with meat sauce, very good.
Public - a year ago
reviewed a year ago
Our whole family loves this school. If your top priority for your child is memorizing multiplication tables at the youngest possible age while avoiding any exposure to dirt, this may not be the school for you. But if want your child to learn about citizenship, being part of a community, taking responsibility and making good choices, all while developing a life-long love of learning, then you've come to the right place. Maybe the shortest convincing testimonial comes from a fellow parent, a teacher at a local high school, who observed that his most engaged, most dynamic, most with-it students came disproportionately from Peninsula School... so that's where he sends his daughter.
• • •
Public - a year ago
reviewed a year ago
It's a no-hassle experience for sure. Sam Ebrahimi (salesman) drove me home and then back to the dealership, making things easier. Pricing seemed fair and consistent with the modest amount of Internet data I scraped up.
Public - 4 years ago
reviewed 4 years ago
4 reviews
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Map
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Best data center networking gear on the planet. :-)
Public - 4 years ago
reviewed 4 years ago