Amazing. ====== President Obama said a fair bit during the fiscal-cliff negotiations—speaking for 45 minutes in one 50-minute meeting, for example—but today let’s zero in on the claim he kept repeating: “We don’t have a spending problem. We have a health-care problem.” For our money—and yours—those are two of the most remarkable sentences our Orator in Chief has ever strung together. Not so... Read more
Archive for the ‘Economics’ Category
Soak the Rich! (What rich?)
December 3 | Posted by mrossol | Debt, EconomicsThe Gov obviously miscounted something… ======== A funny thing often happens on the way to soaking the rich: They don’t stick around for the bath. Take Britain, where Her Majesty’s Revenue and Customs service reports that the number of taxpayers declaring £1 million a year in income fell by more than 60% in fiscal 2010-2011 from the year before. That was the year that... Read more
Debt is Even Deeper Than Most Think
December 3 | Posted by mrossol | Debt, EconomicsLetters to the Nov. 27th story “Why $16 Trillion Only Hints at the True U.S. Debt” by Chris Cox and Bill Archer. ==== While “Why $16 Trillion Only Hints at the True U.S. Debt” by Chris Cox and Bill Archer (op-ed, Nov. 27)is on the mark, it doesn’t tell the complete story. Although it is true these amounts aren’t included in the... Read more
Learning to Love Volatility
November 19 | Posted by mrossol | American Thought, EconomicsThis is a ‘must read’. Some very good concepts about Govt/Capitalism. Please take the time.. ======== Several years before the financial crisis descended on us, I put forward the concept of “black swans”: large events that are both unexpected and highly consequential. We never see black swans coming, but when they do arrive, they profoundly shape our world: Think of World War... Read more
Debasing the Currency – and more…
October 28 | Posted by mrossol | American Thought, Economics, SocialismThis is a must read. We are repeating history… to our detriment. ========= Popular Delusions Memo to Central Banks: You’re debasing more than our currency By Dylan Grice, Societe Generale At its most fundamental level, economic activity is no more than an exchange between strangers. It depends, therefore, on a degree of trust between strangers. Since money is the agent of exchange, it is the... Read more
The Great Persuasion | Masters of the Universe
October 28 | Posted by mrossol | American Thought, EconomicsBook Review… ============== By KENNETH MINOGUE Everyone agrees we are going through a crisis—but a crisis of what? The members of the Occupy Wall Street movement think it is a crisis of capitalism. Others think the crisis is moral: Our propensity to consume without thought for the planet, the poor or even the person next door is a sign that greed and fear... Read more
