More Economics Rapping: Raise the Debt Ceiling
This time it’s not Hayek and Keynes going at it (round 1 and round 2) but Remy rapping about the debt ceiling for ReasonTV.
You simply can’t beat the line “I got a monetary plan and it involves a… Continue reading
¿Dónde Está el $2,300,000,000,000? Hell if the Pentagon Knows
The Most Bloated Part of Government
Conservatives have long seen the military budget as “off the table,” yet if we are seriously going to take on our massive deficits, it has to be cut, and cut drastically for… Continue reading
Why the “Budget Cuts” Are A Joke: A Visual Representation
As I’ve already discussed, the “budget cuts” debate is complete nonsense. Here is Stefan Molyneux with a visual representation to hammer the point home. Saving ten dollars on a trip to the moon indeed:
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Actual Government Debt As High As $200 Trillion?
When All Your Taxes Do Is Pay Off the Interest on the National Debt...
Boston University economist Laurence Kotlikoff says the U.S. is broke. He said so before the financial crisis and now he warns we’re nearing the broke as… Continue reading
California Proposition 19: Regulate, Control and Tax Marijuana
Look at Prop 19 go; already boosting economic activity.
Californians will cast their ballots November 2nd to decide if they want their quasi-legal marijuana industry to look a lot like the alcohol industry. In a state where a contrived headache… Continue reading
When It Comes To The Yuan, Be Careful What You Wish For
With the yuan now set to appreciate, will US policymakers rue the day?
The Chinese have announced they will allow their currency off the leash. While not a floating policy quite yet, the yuan will edge up over time. Pegged… Continue reading
CBO Projects Obama’s Budget Would Add $9.8 Trillion of Debt
The most frightening element of this ten-year forecast is that an estimated $5.6 trillion of the debt would be interest expense. Yes, that's right, interest. Continue reading
So Easy A Caveman Could(n’t) Do It
Many have oversimplified that Buffet didn't understand dot.com's, therefore he didn't invest in them; and this is why he was able to have the last laugh once the floor caved in on the bubble. As he says: "Risk comes from not knowing what you're doing." My feeling is that Buffet knew exactly what dot.com's were, he simply chose not to bite. In the irrational exuberance of market surges, Buffet, as stated above, knew these companies were not making a profit, therefore there was no true underlying value for most of them. Any great investor, or gambler, knows that the biggest wins usually come when you're the 5% minority making the wager, and public opinion is going the other wa Continue reading
The COMPLETE Fiscal Picture of the U.S.
Fiscal Flash is forgetting about net exports...
There’s a lot of talk out there about green shoots, economic recovery and stabilization. Most people aren’t predicting giant leaps in GDP anytime soon, but some are predicting modest global GDP growth between… Continue reading
Where is Crude Oil Headed in 2010?
Economic forecasts are a funny thing. If they attempt to project anything beyond the short-run (one year), be very skeptical. But short-run forecasts are not iron-clad either. I have a great time on this site making fun of economists and their predictions. Guessing what the intricate convergence of millions, if not billions, of different economic agents and their decisions will be, is kind of an exercise in futility. So if I were to predict what crude oil will do in 2010, I'd give you some markers to help you make your own decision long before I took a specific barrel price and defended the position. Continue reading
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