No, not exactly. As this article points out, a Ponzi scheme has to attract investors, whereas Social Security has a captive investor-audience: all Americans who work. And Social Security can keep asking for more from them, not just in absolute … Continue reading →
The most interesting thing to me in this article about a recent NBC/WallStJournal poll isn’t Obama’s approval rating, which is low but still surprisingly high at 44%. What drew my attention instead was this: While Perry appears to be the … Continue reading →
Fannie and Freddie cry innocent over their investment in bad mortgage securities; it’s the big bad bankers’ fault! And now it’s time for the government to sue: The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac … Continue reading →
One of the things I love about blogging are the discoveries that can result from late-night meandering down paths that lead to the unexpected. That’s what happened the other evening when, after doing some research on Keynes and Hayek, I … Continue reading →
Bernanke announced no new steps on the economy, although he urged the government to “pursue tax, trade, and regulatory policies that encourage economic health.” I guess that for Bernanke, though, it’s a case of “first, do no harm.” Paul Krugman … Continue reading →
Despite my interest in politics (or perhaps because of it?), there haven’t been many presidential candidates over the years who’ve roused much enthusiasm in me. In fact, the single exception might have been Paul Tsongas, who ran for (and lost) … Continue reading →
The article “Why Americans Hate Economics” caught my eye, for obvious reasons. Here’s a quote: Christina Romer, the University of California at Berkeley economics professor and President Obama’s first chief economist, once relayed the old joke that “there are two … Continue reading →
I’ve noticed a few articles and posts lately from people on the left containing the meme “we know exactly what to do to fix the economy, and the mean and destructive politicians just won’t do it.” Here’s a good example … Continue reading →
…but the good news is: mortgage rates are mega-low! Time to buy a home! That is, if you’ve got any money left, or a job. Here are some possible reasons why the market is tanking today. And only 26% of … Continue reading →
Here’s Krauthammer on the stimulus: “[Obama] did a huge Keynesian gamble, and it failed.” But super-Keynesians such as Krugman say it failed because it wasn’t nearly super enough. It should have been bigger. And Obama says if he hadn’t done … Continue reading →
Right off, I noticed a few things about Warren Buffett’s plea in the NY Times asking the federal government to stop coddling him and his fellow rich people and to please, please, PLEASE raise their taxes on income, capital gains, … Continue reading →
Romney is getting a lot of flack for saying that corporations are people, but even liberal Greg Sargent is defending Romney—sort of, anyway A transcript of Romney’s remarks appears at Sargent’s WaPo blog. And well, aren’t corporations people? The whole … Continue reading →