inflation for six-year-olds

Duck Tales Inflation Lesson

A Memo Found in the Street

"A Memo Found in the Street" by Barry L. Ritholtz

We on Wall Street feel somewhat compelled to take at least some responsibility .... But here's a news flash for you, D.C.: We could not have done it without you .... THIS MEMO PROVIDES A BRIEF HISTORY OF your actions that helped create this crisis.

no insult meant to France

How We Became the United States of France" (Time Magazine):

This is the state of our great republic: We've nationalized the financial system, taking control from Wall Street bankers we no longer trust. We're about to quasi-nationalize the Detroit auto companies via massive loans because they're a source of American pride, and too many jobs — and votes — are at stake. Our Social Security system is going broke as we head for a future in which too many retirees will be supported by too few workers. How long before we have national health care? Put it all together, and the America that emerges is a cartoonish version of the country most despised by red-meat red-state patriots: France. Only with worse food.

The Crisis of Global Capitalism?

"The Crisis of Global Capitalism?" from Gary Becker:

Other misguided regulations, such as permanent restrictions on short sales, or discouragement of securitization of assets, will both reduce the efficiency of financial markets in the United States, and they will shift even larger amounts of financial transactions to London, Shanghai, Tokyo, Dubai, and other financial centers.

Too Few Regulations? No, Just Ineffective Ones

From Tyler Cowen, "Too Few Regulations? No, Just Ineffective Ones":

THERE is a misconception that President Bush’s years in office have been characterized by a hands-off approach to regulation. In large part, this myth stems from the rhetoric of the president and his appointees, who have emphasized the costly burdens that regulation places on business.

But the reality has been very different: continuing heavy regulation, with a growing loss of accountability and effectiveness. That’s dysfunctional governance, not laissez-faire.

.... if you hear a call for more regulation, without a clear explanation of why regulation failed in the past, beware. The odds are that we’ll get additional regulation but with even less accountability and even less focus on solving our very real economic problems.

Brussels fraud

The EU budget is rejected again, but people are past caring by Daniel Hannan:

So now we know: for the fourteenth consecutive year, the European Court of Auditors will refuse to sign off on the EU budget. The European Commission has flagged up the news early this year, perhaps hoping that it will get lost amid all the coverage of bank failures. It needn't have bothered. Brussels fraud has become a dog-bites-man story. No one cares any more.

spare the nation

"If You Like Michigan's Economy, You'll Love Obama's" (WSJ):

The states have already tested the McCain and Obama programs, and the results are clear. We now face a national choice to determine if everything that has failed the families of Michigan, Ohio and Illinois will be imposed on a grander scale across the nation. In an appropriate twist of fate, Michigan and Ohio, the two states that have suffered the most from the policies that Mr. Obama proposes, have it within their power not only to reverse their own misfortunes but to spare the nation from a similar fate.

public policy and promises

No more bogus debates about fictitious figures" from David Finkelstein:

Mr Osborne should not just say that he won't match Labour. He should issue a declaration of independence from the whole sorry mess that is the public spending debate. Such a declaration might help him to win. It would certainly help him to govern. And for the rest of us it would be a blessed relief.

Scott Armstrong interviewed on global warming by newspaper in Spain

"Scott Armstrong interviewed on global warming by newspaper in Spain" (The Global Warming Challenge):

In a recent interview conducted by LA VANGUARDIA, Scott Armstrong takes on challenges regarding his stance on climate change. Armstrong defends his position and explains why the global warming scare is a sham. The interview appeared in La Contra in Spanish, but has also been translated to English.