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

A Brain-Dead "Financial Reporter" at NPR Defines the Problem

Via Doctor Black, who printed the answer but not the question: PIGNAL: This is actually the second bailout for Dexia. In 2008, it had to be bailed out after exceptionally imprudent investing, including in U.S. subprime mortgages. This time around, it was basically dealing with the legacy of the past, and it was trying to […]

ARITHMETIC MATTERS

by Dale Coberly ARITHMETIC MATTERS I was thinking that someone could fault my essay the other day about the “Intelligence Squared” debate. I said that Howard Dean’s side did not really help anyone understand why, or what, or how to “save the program.” I hope I helped explain the why and what, but I probably […]

Benford’s Law and the Decreasing Reliability of Accounting Data"

H/t Mike Kimel Via Economist’s View This is from Jialan Wang: Benford’s Law and the Decreasing Reliability of Accounting Data for US Firms, by Jialan Wang: …[T]here are more numbers in the universe that begin with the digit 1 than 2, or 3, or 4, or 5, or 6, or 7, or 8, or 9. […]

GOP Representative moves to increase deficit–and aid the investor class

by Linda Beale GOP Representative moves to increase deficit–and aid the investor class The GOP has made lots of fusses lately about the deficit. According to the party line, earned benefits that Americans rely on for health care and retirement income just “have” to be reduced, no matter how painful it is to the GOP-controlled […]

Guest post: WHAT WALL STREET PROTESTORS SHOULD ASK FOR AND THE THIRD BATTLE OF MANASSAS

By Jeff McCord is a former US Senate staffer, Securities Investor Protection Corp (SIPC) executive and has been a free-lance journalist for Dow Jones publications. His academic background in economics includes post-graduate work at the London School of Economics and George Washington University. THE THIRD BATTLE OF MANASSAS AND WHAT WALL STREET PROTESTORS SHOULD ASK […]

Stylized Facts

Net Exports goes negative in 1973 and never recovers. One word: oil. Even the USD depreciation after the Plaza Accord (the one Martin Feldstein likes to pretend was inevitably going to happen then) can’t quite get it back to being positive. And once outsourcing industry to China hits full stride… Private Investment peaks in 2006. […]

53% Republican Astroturf vs Republican Grass Roots

Who are the 53% ? Erick Erickson claims that they are the 53% who pay positive income taxes which, he suggests, are the same people who disagree completely with the occupiers of Wall Street The Bloomberg poll says they are the fraction of self identified Republicans who support raising taxes on family income over $250000 […]

Expect Neither ‘Sustainable’ nor ‘Comprehensive’ From Euro Area Leaders

by Rebecca Wilder Expect Neither ‘Sustainable’ nor ‘Comprehensive’ From Euro Area Leaders On Sunday, Merkel and Sarkozy promised a “sustainable and comprehensive” solution to the euro debt crisis ahead of the November 3-4 G20 meeting. Along with this rather grand announcement are absolutely no details on their plan. However, Van Rompuy today pushed back the […]

More on Repatriation–WIN America corporatist lobbying group’s strike back on Heritage

by Linda Beale More on Repatriation–WIN America corporatist lobbying group’s strike back on Heritage In a recent posting, I commented further on the lack of arguments supporting the corporatist lobbying drive for another “repatriation tax holiday” for multinational corporations that have stashed more than a trillion abroad (often through gimmicky transfers of intangible property such […]

Bad Expansions Are In the Eye of The Beholder

Via Barry Rithholtz, I see that Martin Feldstein has not yet finished with his Atonement. I think I’ve posted a variation of this before, but apparently I’ll have to keep screaming, at least throught Simchat Torah (and, I suspect, beyond). Anyone have Feldstein appearances or editorials from early 2004 talking about how badly the economy […]