Relevant and even prescient commentary on news, politics and the economy.

The WSJ version of History

An article on Che Guevara becomes surreal: For many Argentines, he evokes painful memories of the bloody 1970s, when young Che-wannabes took up arms in the name of revolution. The ensuing turmoil gave rise to a brutal right-wing military dictatorship. Yes, the families of the “desaparecidos” all consider Che the reason their family tree is […]

Privatizing Dinner in the Capitol

by reader sammy Senate Votes To Privatize Its Failing Restaurants From the Washington Post. The embarrassment of the Senate food service struggling like some neighborhood pizza joint has quietly sparked change previously unthinkable for Democrats. Last week, in a late-night voice vote, the Senate agreed to privatize the operation of its food service, a decision […]

Soc Sec XX: Reframing the Trust Fund

Well I want to get back to some of the basics. Much of the confusion around Social Security, and this is true as much for supporters as opponents, is a failure to understand what the Trust Fund actually is. This failure has led to such myths as ‘The Great Raids of Johnson/Reagan/etc’, the idea that […]

Minimum Wage and the Supply Curve

The other day I read an interesting comment at Division of Labor.Art Carden of Rhodes College wrote: I’ve had a great time in Great Barrington, Massachusetts while I’ve been visiting the AIER. It’s absolutely beautiful up here, but I was at a coffee shop yesterday when I noticed a sign saying “please bus your own […]

Windfall taxes and Mr. Obama

by reader Old Vet ”Oil prices? Better find a place to park and quickly. I did.” Gas prices are through the roof. Are we facing the end of an era? Oil companies are amassing ever greater profits as crude prices rise. Mr. Obama very recently talked about a windfall profits tax on oil companies. In […]

Obama/McCain legislation

Good website to visit is Open Congress. Obama and Coburn Shine Brighter Light on Government Spending Sens. Barack Obama (D-IL) and Tom Coburn (R-OK) have joined forces again to craft legislation that would increase the transparency of how the federal government spends taxpayers’ money. The Strengthening Transparency and Accountability in Federal Spending Act (S. 3077), […]

Dry Ships Index

This is a very interesting leading index of world economic growth and commodity prices –including oil. Yes, it has been known to generate false signals.

Global warming policy on taxes report

18 expert panelists on GAO report on cap and trade versus carbon taxes. Joseph Aldy, Resources for the Future James Edmonds, Pacific Northwest National Laboratory Richard Howarth, Dartmouth College Bruce McCarl, Texas A&M University Robert Mendelsohn, Yale University William Nordhaus, Yale University Sergey Paltsev, Massachusetts Institute of Technology William Pizer, Resources for the Future David […]