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Keyword: economics

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  • The Rich Are Getting Richer; So Are the Poor

    11/05/2011 12:46:45 PM PDT · by MichCapCon · 22 replies
    Mackinac Center for Public Policy ^ | 11/4/2011 | Jarrett Skorup
    “No matter your thoughts about the Occupy Wall Street movement, the protesters are right in at least one respect: The rich are getting richer, and the poor are getting poorer.” Variations on this statement have been repeated in dozens of blogs, commentaries and even news reports over the past several weeks. The claim comes via a Congressional Budget Office analysis showing that incomes for the top 1 percent of Americans grew by 275 percent between 1979 and 2007, while the lowest 20 percent saw their inflation-adjusted incomes grow by “only” 18 percent. ... The actual empirical evidence cited has been...
  • Obamas 9-9-9 Tax Cut | For 999'ers

    11/02/2011 9:06:04 PM PDT · by NaturalBornConservative · 12 replies
    Natural Born Conservative ^ | October 30, 2011 | Larry Walker, Jr.
    ***2nd Revision***Even our brightest may be deceived! ~Anonymous -By: Larry Walker, Jr. -Continued from: 3rd Concern with the 9-9-9 Plan -Mr. Cain’s main argument against the fact that his plan redistributes wealth from the poor to the rich is that, “it does no such thing.” But what does that mean? Simply stating “it does no such thing” doesn’t satisfy the anxiety. The real concern is that since the top 1% of income earners pay 38% of all income taxes, and because the 9-9-9 Plan reduces their tax rate by 74%, while at the same time exempting empowerment zone residents, that...
  • A brilliant interview with New York University law professor Richard Epstein

    10/30/2011 9:11:34 AM PDT · by ventanax5 · 11 replies
    NewsHour anchor Jeffrey Brown explained that in the segment correspondent Paul Solman "gets a contrarian view, suggesting inequality in a free market system may not be as bad as advertised." The guest was New York University law school professor Richard Epstein.
  • The Tale of the Dueling Economists (Keynes and Hayek)

    10/29/2011 2:34:17 PM PDT · by reaganaut1 · 36 replies
    New York Times ^ | October 22, 2011 | NANCY F. KOEHN
    JOHN MAYNARD KEYNES and Friedrich Hayek. The names conjure opposing poles of thought about making economic policy: Keynes is often held up as the flag bearer of vigorous government intervention in the markets, while Hayek is regarded as the champion of laissez-faire capitalism. What these men actually thought — about the economy and each other — is more complicated, as Nicholas Wapshott demonstrates in “Keynes Hayek: The Clash That Defined Modern Economics” (W. W. Norton, $28.95). This lively book explores one of the most pressing economic questions of our time: To what extent should government intervene in markets? And in...
  • Reagan Supply-Sider Takes on Critics of Cain 999 Plan

    10/19/2011 8:42:05 AM PDT · by rbmillerjr · 12 replies
    The Every Day Conservative ^ | Oct., 19, 2011 | RB Miller
    Full Text of Article (less graphics) follows: Laffer Shoots Down Critics on Cain 999 for WSJ In an Opinion piece for the Wall Street Journal, Supply Side economist and Reagan advisor, Art Laffer, looks at the number and concludes it is real stimulus for the American economy. Cain's plan will bring in the same revenue as the current tax code on a "static basis." This means that given no assumptions for extra "dynamic" growth, the 999 Plan will meet revenue needs. But, Laffer strongly believes that the Cain Plan will bring in more due to the intrinsic economic positives of...
  • Age-old ‘distributism’ gains new traction

    10/18/2011 8:36:07 PM PDT · by MeNeFrego · 80 replies · 1+ views
    Washington Post ^ | 10/18/2011 | David Gibson
    NEW YORK — Can an Anglican theologian from Britain revive an 80-year-old Catholic social justice theory and provide a solution to America’s economic woes and political polarization? Philosopher and political thinker Phillip Blond thinks so, and he’s giving it everything he’s got. Blond, who has been a counselor to British Prime Minister David Cameron, just wrapped up a two-week U.S. tour to pitch his retooled version of “distributism,” a theory that argues that both capitalism and government are out of control. In that sense, the thinking goes, both Occupy Wall Street and the Tea Party are right...
  • SEPTEMBER PPI SURGES 0.8%, WAY HOTTER THAN ESTIMATES

    10/18/2011 5:53:27 AM PDT · by blam · 28 replies
    TBI ^ | 10-18-2011 | Joe Weisenthal
    <p>The number is out, and it's HOT!</p> <p>PPI hs jumped 0.8%, well above the 0.2% analysts had expected.</p> <p>Core PPI, which excludes food and energy, was only up 0.2%, which is still above the 0.1% that analysts had expected.</p> <p>The culprit? Blame food and energy.</p>
  • Herman Cain: The Goal Of Liberals Is To Economically Destroy The United States

    10/16/2011 7:45:08 PM PDT · by Mozilla · 55 replies
    Herman Cain ^ | 10-16-11 | Josh Feldman
    On Meet the Press today, Herman Cain explained to David Gregory why he believes that liberals in the United States are invested in seeing the country fail and would do anything to see its destruction. Cain argued that if the economic situation was to get any worse, “it would destroy our economic capability,” and from that the United States would have to look at making cuts in defense spending, which Cain seemed to imply were not on the table for him. Gregory asked the candidate to clarify if he truly meant liberals would be implicit in the destruction of America,...
  • New Nobel Laureate Warned Against Obama Stimulus Package, Calling It ‘Surprisingly Naïve’

    10/10/2011 9:50:25 AM PDT · by maggief · 10 replies
    NYSun ^ | October 10, 2011 | IRA STOLL
    No matter how skeptical one is of the authority of “experts,” it’s hard to avoid paying at least some attention to the people who award the Nobel prize — especially when they give one to someone who tends to support some things one tended to believe already. So it is in the case of Thomas Sargent, the New York University professor who was announced Monday as a winner of the Nobel in economics. An interview of Professor Sargent by the Minneapolis Fed in August 2010 summed up some of his contributions succinctly: “policymakers can’t manipulate the economy by systematically ‘tricking’...
  • 2011 Nobel Prize in Economics (my title)

    10/10/2011 7:46:42 AM PDT · by Zionist Conspirator · 6 replies
    Nobelprize.org ^ | 10/10/'11 | Nobelprize.org
    The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2011 to Thomas J. Sargent New York University, New York, NY, USA and Christopher A. Sims Princeton University, Princeton, NJ, USA "for their empirical research on cause and effect in the macroeconomy"
  • Milton Friedman on greed --- An old Phil Donahue show video

    10/09/2011 10:33:55 AM PDT · by dennisw · 9 replies
    youtube ^ | 1979 | Milton Friedman
    http://www.youtube.com/watch?v=RWsx1X8PV_ASo clear and cogent, Freidman demolishes Phil Donahue. Greed and the lies of politicians who claim they are not greedy but are above it
  • Cain: Racism Is Not Holding Anyone Back

    10/09/2011 1:00:43 PM PDT · by justsaynomore · 64 replies
    CNN State of the Union ^ | 10/9/11 | CNN
    Presidential candidate Herman Cain said Sunday that he didn’t believe racism was a major factor holding minorities back in America, asserting instead that African Americans had a level playing field on which to advance economically. “I don't believe racism in this country today holds anybody back in a big way,” Cain said on CNN’s “State of the Union.” “Are there some elements of racism? Yes. It gets back to if we don't grow this economy, that is a ripple effect for every economic level, and because blacks are more disproportionately unemployed, they get hit the worst when economic policies don't...
  • Japan Government Announces $156 billion Spending Plan (Rebuilding)

    10/06/2011 8:19:54 PM PDT · by mnehring · 2 replies
    TOKYO—The Japanese government and ruling party agreed plans on Tuesday to spend 12 trillion yen ($156 billion) through the forthcoming new stimulus package and to rely less on tax increases than initially envisioned to cover the cost of post-quake reconstruction.... ...The stimulus package is slightly bigger than the government's initial estimate. It would pay for steps to rebuild areas hurt by the March 11 earthquake and tsunami as well as measures to soften the impact of the yen's recent rise on the country's export-reliant economy. Separately, the government now plans to raise ¥7 trillion, instead of an initially planned ¥5...
  • Refuting the economics behind the 'rich don't pay their fair share' fallacy

    10/05/2011 2:00:33 PM PDT · by NevadaPolicyResearchInstitute · 7 replies
    Write on Nevada ^ | October 5, 2011 | Victor Joecks
    See yesterday's post for a refutation of the "rich don't pay their fair share" fallacy. Today, I'd like to address the economic philosophy behind that statement and why it is also wrong. The unstated, underlying economic assumption that many leftists make is that the rich have to pay their "fair share," because the rich are wealthy only because they have taken from society or the poor and that government must right that wrong through taxes or "spreading the wealth around." Nothing could be further from the truth. What's amazing about free-market capitalism is that the way you get rich is...
  • CBOE (Chicago Board Options Exchange) Is In Talks With Other States On Move - CEO

    10/01/2011 3:06:21 PM PDT · by re_tail20 · 14 replies
    NASDAQ ^ | Sept. 30, 2011 | Jacob Bunge
    The parent of the Chicago Board Options Exchange has held talks with a number of governors and state officials about a possible move of its headquarters to another state after Illinois raised its tax rate, providing another challenge to the city's status as the self-styled "derivatives capital of the world." January's tax increase is seen increasing CBOE Holdings Inc.'s (CBOE) state tax bill by a quarter. Chicago-based CME Group Inc. (CME), the world's largest futures exchange operator, is also talking about relocating its headquarters. "We've had a series of meetings with people in this state and outside this state," said...
  • She's Baaaaack!

    09/26/2011 8:19:38 PM PDT · by Sick of Lefties · 29 replies · 1+ views
    Noman Says ^ | 9/26/11 | Noman
    She's Baaaaack! No sooner does Noman think he's done with Elizabeth Warren than she leaps into the fray with yet more provocative material. This woman is a living, breathing blog-op. It's worth taking time to address her for several reasons. First, she's a walking compendium of Liberal certitudes whose cocksure righteousness causes her to effuse pristine formulations of Statist credal beliefs. Secondly, she's a Chaired Harvard Law Professor, which attests to her position at the top of the profession's food chain, and highlights the beliefs that animate the nation's preeminent reservoir of legal wisdom. Finally, she's a perpetual menace to...
  • Greece vows to stay in the Euro, never go bankrupt

    09/25/2011 1:02:52 AM PDT · by AnAmericanAbroad · 30 replies
    Zee News ^ | 25 September, 2011 | Staff
    Greek Finance Minister Evangelos Venizelos sought to reassure nervous markets and EU partners on Saturday by pledging his debt-ridden country would do whatever it takes to avoid default and stay in the euro zone. During an IMF meeting in Washington that was dominated by fears that Greek debt woes could trigger a wider European crisis, threatening banks and hurting the world economy, Venizelos dismissed any talk of bankruptcy.
  • Amazing speech by Bill Whittle at Beverly Hills Tea Party

    09/24/2011 9:47:52 AM PDT · by ventanax5 · 11 replies
    The Right Scoop ^ | Bill Whittle
    Bill Whittle spoke the other day at the Beverly Hills Tea Party and I must say it was excellent. When he began he said that his job was to scare us to death and then explain why he has so much hope for us overcoming the big problems we face. I’m not sure he succeeded on the former, but definitely the latter. He broke the speech up into seven categories that he believes most Tea Party members would agree on and then elaborated on them, some at great length. The seven categories are limited government and free enterprise, distrust of...
  • Modern Monetary Theory

    09/20/2011 8:53:43 AM PDT · by PeterPrinciple · 23 replies
    The Agonist ^ | The Agonist
    Modern Monetary Theory - An Overview I’ll try to provide brief, working definitions to everything below. Before I dig in, I just want everyone reading to know that I'm not an economist, I am not an expert on anything pertaining to economics, and for all I know everything I'm about to tell you is dead wrong and I'm an idiot. Now, with that out of the way: In my recent travels around the internet, I happened across the blogs of Bill Mitchell and Warren Mosler, which discuss Modern Monetary Theory (MMT). MMT is a macroeconomic theory which tries to explain...
  • Soros fingerprints all over protests here, too (Israel)

    09/10/2011 7:49:06 PM PDT · by opentalk · 15 replies
    WND ^ | September 8, 2011 | Aaron Klein
    TEL AVIV –The Democrat strategist identified as an architect of the social protests currently rocking Israel previously ran the campaign of Bolivia's former president, who was ushered into office amid escalating social protests in that country.After Gonzalo Sánchez de Lozada took power in Bolivia in 1985, he quickly implemented an economic "shock therapy" crafted by Jeffrey Sachs, a Columbia University professor who sits on the board of an organization literally seeking to reorganize the entire global economic system. That group is the Institute for New Economic Thinking, or INET.Philanthropist George Soros is INET's founding sponsor, with the billionaire having provided...
  • Obama's Moving Capital to Singapore Act

    09/18/2011 3:01:58 PM PDT · by Gail Wynand · 13 replies
    Darwin Central ^ | September 18, 2011 | Elmo Zoneball
    It is currently reported that Obama intends perhaps on Monday, to propose a minimum tax on millionaires, a "Buffet tax," sounding conceptually like a new version of the "alternative minimum tax." It has already been acknowledged that even if enacted into law such proposed minimum tax on the wealthy is not likely to have a significant impact on US tax revenues. It may, however, along with other tax proposals by this administration or as part of current law, have significant economic impacts. Under the often ignored principle that proposed legislation should be entitled according to its most essential impacts if...
  • Are You Poor?

    09/17/2011 4:14:38 AM PDT · by Kaslin · 46 replies
    Townhall.com ^ | September 17, 2011 | Bill O'Reilly
    The folks are getting hosed. According to the American Debt Advisor outfit, 80 percent of us now owe money to creditors. If you exclude mortgages and car payments, about 50 percent of us are in debt. And that's why the economy is having so much trouble. Consumers have to be very careful about what they buy, or risk sinking into insolvency. Some pundits place the blame on unemployment, which is currently just over 9 percent. But that's not what is driving debt. Taxation is. The mean salary in America is just about $50,000. But if you live in Los Angeles,...
  • Hannity Interviews Herman Cain

    09/16/2011 8:55:00 PM PDT · by justsaynomore · 30 replies
    Youtube ^ | 9/16/11 | Hannity/Cain
    Cain discusses his 9-9-9 plan on Hannity today: Part 1Part 2
  • Marc Faber: Obama's Job Package 'a Complete Joke'

    09/09/2011 4:20:00 PM PDT · by george76 · 14 replies
    CNBC ^ | 9 Sep 2011 | Patrick Allen
    Pimco’s Mohamed El-Erian might like what he sees in President Barack Obama’s $447 billion jobs package but not Marc Faber, the author of the Gloom, Boom and Doom report, who is not happy about the President’s plan. The package is “another complete failure of Keynesian economics and corrupt interventions,” Faber
  • An Economics Lesson Even a Liberal Can Grasp

    09/06/2011 6:46:44 AM PDT · by Hojczyk · 29 replies
    American Thinker ^ | September 6,2011 | Herbert E. Meyer
    Since the president and his advisers haven't got a clue about how our economy works -- which isn't surprising, since these people have less practical business experience than any kid with a lemonade stand -- Entrepreneurs Create Jobs Think of it this way: if you want more milk, create an environment in which cows will thrive. And just as it makes no sense to say you want more milk but oppose cows because they're smelly, dirty, and leave their droppings all over the place -- it makes no sense to say you want more jobs but oppose entrepreneurs because when...
  • If You Like Obama’s Economic Team, You’ll Love Romney's...

    09/07/2011 7:53:13 PM PDT · by FreeKeys · 31 replies · 1+ views
    CATO@LIBERTY ^ | September 6, 2011 | Mark A. Calabria
    Just when you thought Keynesian economics was finally dead among Republicans, Mitt Romney announces two prominent New Keynesian academics, Greg Mankiw and Glenn Hubbard, as the heart of his economic team. So if you loved how Obama has managed to continue the flawed economics of the Bush administration*, you’ll feel pretty safe with Romney. Sadly the real problem goes beyond Romney and Obama. The financial crisis and the government’s response to it illustrate the failure of much of mainstream macroeconomics. Yes, the Romney team would have had its stimulus proposal tilted more toward temporary tax cuts, but it still would...
  • How Capital Crushed Labor

    09/05/2011 9:49:48 PM PDT · by Bratch · 106 replies
    Townhall ^ | 9/6/2011 | Pat Buchanan
    Once, it was a Labor Day tradition for Democrats to go to Cadillac Square in Detroit to launch their campaigns in that forge and furnace of American democracy, the greatest industrial center on earth. Democrats may still honor the tradition. But Detroit is not what she was, not remotely. And neither is America. Not so long ago, we made all the shoes and clothes we wore, the motorcycles and cars we drove, the radios we listened to, the TV sets we watched, the home and office calculators and computers we used. No more. Much of what we buy is no...
  • Systemic Risk Returns: Is the Current Crisis Worse Than the Lehman Collapse?

    09/02/2011 11:58:51 PM PDT · by neverdem · 10 replies
    AEI Economic Outlook ^ | September 1, 2011 | John H. Makin
    View this Outlook as a PDF In the January 2011 Economic Outlook, "Liftoff or Cold Shower? The Economy in 2011," I suggested that the extra fiscal stimulus from the federal tax cuts late in 2010 could, along with the Federal Reserve's second round of quantitative easing (QE2), produce 4 percent growth during the first half of 2011. I added, however, that if the stimulus measures enacted in 2010 failed to generate sustained growth, the US economy could face a cold shower in 2012. The stimulus measures did fail during the first half of 2011, stock markets have dropped sharply, and...
  • Unemployment: US vs. European Models

    09/01/2011 9:09:45 AM PDT · by MichCapCon · 2 replies
    Capitol Confidential ^ | 9/1/2011 | Tom Gantert
    In an Aug. 28 column about “shared sacrifice,” Booth's Peter Luke stated that unemployment rates in Europe are lower than those in the United States. Luke wrote: “European unemployment rates are lower than in the U.S. because instead of laying off massive numbers of workers — thus requiring more hours from those who remain — every worker simply works fewer hours. And takes home less pay.” What Luke didn’t mention is that unemployment in this country didn’t come close to Europe’s until very recently. From 1992 to 2008, the average annual unemployment rate here was far below Europe’s, according to...
  • [v] o look at the price of gold [v]

    08/28/2011 3:18:47 PM PDT · by the invisib1e hand · 16 replies
    082411
    ...after "the largest selloff in years" last week.
  • Study: 80 Percent of Lawmakers Lack Academic Background in Business, Economics (DUH!)

    08/27/2011 11:23:57 AM PDT · by Libloather · 17 replies
    Fox News ^ | 8/25/11
    Study: 80 Percent of Lawmakers Lack Academic Background in Business, EconomicsFoxNews.com Published August 25, 2011 Congress might want to find some consultants as it tries anew to tackle the country's deep deficits. A report from the Employment Policies Institute finds that only one in five members of Congress has an academic background in business or economics. The organization looked at lawmakers' college degrees and found that most of them -- 55.5 percent -- majored in either a government-related field or "humanities." Just over 8 percent majored in economics, while almost 14 percent studied business or accounting. The numbers raise questions...
  • Just Because It Sells Doesn?t Mean It Works

    08/27/2011 4:58:43 AM PDT · by BUGSWOL · 3 replies
    Whatakeronline.org ^ | August 27th, 2011 | Bob Whitaker
    We all realize that the primary campaign for the nomination is very different from the electoral campaign. That is one of the first rules one learns in politics. But the big lesson is, with most people the lesson stops right there. A Mantra Thinker will START with a rule in one area, and test it out in other areas. As soon as you start doing this you realize that a rule set is critical in others. One of the major reasons potentially successful movements fail is because the way its adherents choose the people they will pay attention to is...
  • May I ask a question of FR's economists?

    08/25/2011 11:25:22 AM PDT · by LouAvul · 24 replies
    I'm reading a review of the Emergency Economic Stabilization Act of 2008. I have a couple of questions. First, they reference "mark-to-market" accounting standards. That means they wanted to do away with "fair value" (i.e., true value) accounting standards? They wanted to inflate the value of mortgages so as not to destroy their balance sheets? Second, I read the following: "FASB was criticized for politicization of accounting standards." What does that mean? The injection of politics into the process? Thanx
  • "No safe havens" (or: Why Keynes was so screwed up...my alt. title)

    08/24/2011 9:42:32 AM PDT · by fishtank · 21 replies
    WORLD magazine ^ | For release Aug. 27, 2011 | Jerry Bowyer
    No safe havens Back to School Economics and finance have not escaped the onslaught of anti-Christian thought By: Jerry Bowyer Christian students, warned about anti-Christian thought in areas like sociology or psychology, suffer from the illusion that majoring in economics or finance is "safe." Not so, and the work of one of the giants of economics, John Maynard Keynes (1883-1946), is a case in point. Keynes' milieu was that of the "Cambridge Apostles," a once-Christian debate society that changed under Keynes' leadership: "We were, in the strict sense of the term," he wrote, "immoralists." Richard Deacon's history, The Cambridge Apostles,...
  • The False WWII Analogy

    08/24/2011 6:15:51 AM PDT · by Shery · 1 replies
    National Review ^ | August 24, 2011 | Victor Davis Hanson
    The False WWII Analogy Obama’s America is more like Attlee’s Britain than Truman’s America. Since 2009, the example of the economic boom following World War II has been used by Keynesians to justify their record “peacetime” levels of borrowing intended to lift the U.S. out of the doldrums. Indeed, the more the contemporary borrowing fails, the more the vast indebtedness of the war years is invoked to reassure us. On occasion a wry lament follows that if only a spaceship full of dangerous aliens were to appear, we might have the requisite excuse to follow our ....
  • Almost Everything We're Taught Is Wrong

    08/24/2011 4:02:43 AM PDT · by Kaslin · 107 replies
    Townhall.com ^ | August 24 2011 | John Stossel
    We grow up learning that some things are just bad: child labor, ticket scalping, price gouging, kidney selling, blackmail, etc. But maybe they're not. What I love about economics is that it can show that what seems harmful is actually good for society. It illuminates what common sense overlooks. This is all covered in the eye-opening book "Defending the Undefendable" by economist Walter Block. Most people call child labor an unmitigated evil. David Boaz of the Cato Institute and Nick Gillespie of Reason.tv say that's wrong. "If we say that the United States should abolish child labor in very poor...
  • Krugman(?): If only the earthquake had done more damage, the economy would have gotten a boost

    08/23/2011 7:48:47 PM PDT · by RobinMasters · 45 replies
    Hot Air ^ | August 22, 2011 | ALLAHPUNDIT
    Via Timothy Carney, this appears to be real. Is it real or just a goof? Kevin Williamson isn’t sure and neither am I, but given that this is the same guy who fantasized recently about the Keynesian awesomeness of an alien invasion, it’s at least a toss-up. All day long I’ve felt relieved that the quake caused only very minor damage, but now suddenly I’m bummed that the Brooklyn Bridge didn’t fall into the river. Maybe we can get DHS or the NYPD to blow it up? That’s a few thousand jobs right there.
  • The Wisdom of Thomas Sowell

    08/23/2011 6:34:23 AM PDT · by day10 · 20 replies
    BoerFolsom.com ^ | 8/23/2011 | Burt Folsom
    Economist Thomas Sowell is famous for his accurate analysis and for expertly separating fact from fiction. Let’s ponder some provocative statements from his book Controversial Essays. “The strongest argument for socialism is that it sounds good. The strongest argument against socialism is that it doesn’t work.” Yes, it sounds good to say that industries will be run by the state in the public interest, but such industries always fail, or perform badly. The Russians under Lenin virtually abolished private farms and created state-owned cooperatives to feed their population. The result: famine, and large imports of food from abroad. On a...
  • How Long Will It Take Keynes to Die? (Slams NYT)

    08/21/2011 7:48:05 PM PDT · by MontaniSemperLiberi · 31 replies
    Reason via RCP ^ | August 17, 2011 | Tim Cavanaugh
    It’s been many years since I’ve read The New York Times. Like most readers, I got discouraged by the shrinking page size, the self-confident erroneousness that becomes apparent whenever America's newspaper of record covers a topic I’m familiar with, and the lack of a comics page. Sure there are occasions when you can’t avoid it—usually when enough people are complaining about an article or when somebody I know is in the paper—but on a daily basis I follow the golden rule that life is just too short for The New York Times. So imagine my surprise the other day when,...
  • Why Americans Hate Economics (fancy theories of macroeconomics defy basic common sense)

    08/19/2011 6:36:57 AM PDT · by SeekAndFind · 42 replies
    Wall Street Journal ^ | 08/19/2011 | Stephen Moore
    <p>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 kinds of students: those who hate economics and those who really hate economics." She doesn't believe that, but it's true. I'm surprised how many students tell me economics is their least favorite subject. Why? Because too often economic theories defy common sense. Alas, the policies of this administration haven't boosted the profession's reputation.</p>
  • Ideas for Fixing the US Economic Mess

    08/17/2011 6:16:18 AM PDT · by econjack · 16 replies
    Email ^ | Aug. 17, 2011 | unknown
    For fear of being a political post, here are some ideas: 1: The debt ceiling will need to be raised temporarily. However the baseline budgeting process should be thrown out. Let the Federal Government budget just like any other company. (Actually these guys haven't even done a budget in 2 1/2 years). No automatic raises. Current budgeting process also encourages various governmental agencies and departments to spend more. If they don't, next year they get less money. Thus they are always hungry for more money to spend instead of finding ideas to save money. This system is all pervasive -...
  • Jobless Recovery ... or Just a Jobless Non-Recovery

    08/16/2011 9:04:17 PM PDT · by aaronopine · 12 replies
    Aaron Opine Blog ^ | 8/16/11 | AaronOpine
    Recent headlines have pondered the apparent paradox of economic recovery without corresponding increases in jobs – called the “jobless recovery” by some. I believe I have resolved the apparent conundrum using a detailed analytical technique. Don’t blame your politicians because few of them are familiar with this methodology, and no liberal has ever heard of it. I like to call this special technique…common sense.
  • Republican Extremism, Bad Economics (NY Times Editorial Extreme Barf Alert)

    08/16/2011 6:03:21 AM PDT · by Zakeet · 9 replies
    NY Times ^ | August 15, 2011 | Steve Rattner
    In the middle of all the debt default drama and stock market turbulence, the leading Republican presidential candidates have begun to fill in the shadowy outlines of their positions on major economic issues. And what a picture it is, a philosophy oriented around shrinking the role of the federal government in every imaginable way, by slashing spending, cutting taxes and halting or rescinding regulations. Their mantra is repeal and retrenchment, devoid of new initiatives or a positive agenda. Some of these views are to the right even of the Tea Party; they amount to the most radically conservative positions of...
  • Four European Nations Ban Short-Selling

    08/13/2011 12:02:02 AM PDT · by Razzz42 · 8 replies
    A European market regulator announced Thursday night that short-selling of financial stocks in several countries would be temporarily banned in an effort to stop the support the markets in France, Belgium, Italy and Spain effective Friday. There is already a temporary short-sale ban in Greece and Turkey. It appears that stupidity must be a new form of disease that is contagious. This is the problem with government officials. They respond ALWAYS the same way and NEVER consult history to just perhaps see if by chance their idea has been tried before and what was the result. Every crash is followed...
  • (Vanity) 1950'S Song that is Strangly relevant to today... "I'm no Communist"

    08/11/2011 8:30:01 PM PDT · by jakerobins · 5 replies
    Song from 1952..."I'm no Communist" by LuLu Belle and Scotty. Somehow still very relevant in 2011...(Barack Obama's America). http://www.youtube.com/watch?v=gudJgbvBnmo
  • A Denial Of Human Nature Undermines Our Economic Recovery

    08/11/2011 6:17:22 PM PDT · by billflax · 5 replies
    Forbes ^ | 08/11/2011 | Bill Flax
    “If you want more of something, subsidize it. If you want less of something, tax it.” – Ronald Reagan Generally deep recessions spring into soaring rebounds. Our present tepid bounce leads many commentators to suggest a pending second dip. The recurring headlines portend caution as markets plunge, unemployment persists, GDP sputters, consumer confidence plummets and now to our national chagrin — treasuries have been downgraded. President Obama is rightly fingered for the ongoing turmoil, but lest we forget, Senator McCain espoused several harebrained solutions too. We see Obama’s ineptitude manifest, but in matters fiscal, our man promising “Change” governs as...
  • In economic turmoil, U.S. needs a leader like Churchill(Nope, we just need a businesman as POTUS)

    08/09/2011 5:36:54 AM PDT · by bestintxas · 14 replies
    cnn ^ | 8/9/11 | David Gergen
    Before returning to the States this weekend, I and others in my family spent enthralled hours at the Churchill War Rooms in London, along with the new museum in his honor next door. Now, there was a leader! There was a man whose example shouts out to us now in our hour of trouble. On both sides of the Atlantic, the turmoil of this past week has sparked cries for those in political power to step up and for God's sake, lead. Fears are spreading across Europe as well as the U.S. that not only are our economies teetering but...
  • Whom Would Jesus Indebt?

    08/07/2011 5:56:28 AM PDT · by schmootman · 20 replies
    CASE (Christians for a Sustainable Economy) ^ | August 2, 2011 | CASE (Christians for a Sustainable Economy)
    Dear President Obama, Majority Leader Reid and Speaker Boehner, Recently, in the midst of the debt-ceiling crisis, a group calling themselves the “Circle of Protection,” led by Jim Wallis of the activist group Sojourners, met with you and your staff to claim that biblical mandates preclude limits to federal programs for low-income people. The Circle includes representatives of the National Association of Evangelicals, Bread for the World, and the U.S. Conference of Catholic Bishops. Wallis and the “Circle of Protection” do not speak for all Christians. However laudable their intentions, the consequence of their action is to provide a religious...
  • Equality, Liberty and Jewish Economics

    08/04/2011 9:38:06 AM PDT · by Zionist Conspirator · 4 replies · 1+ views
    The State of Israel is up in arms and everyone is protesting: Doctors, anarchists, homeless, renters who would like to be home-owners, parents, teachers, taxi drivers and more. Some of the protests are real, some are fake, some are authentic, while others hide a different agenda behind their protest signs. It's a mixed and very confusing bag of events that has broken out in our summer heat and it is rocking our government. It is difficult to sort out what is true and what is false. On the one hand, we all feel economic pressure. Whoever is getting married and...
  • Debt Debate is Nonsense

    07/27/2011 9:29:41 AM PDT · by ventanax5 · 15 replies
    Monty Pelerin's World ^ | Monty Pelerin
    The best way to understand the debt ceiling crisis is to put it into terms that the average person can understand. Imagine that you are hopelessly in debt and spending 60% more than you make each month. You have maxed out your credit cards and have no money to make this month’s mortgage payment. Miraculously in the mail comes a new credit card enabling you to make the mortgage payment. Voila! Problem solved! Now let’s get back to spending. In a nutshell that is what the debt ceiling debate is about. Both parties want a new credit card. Neither wants...