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

US warfare spending

by reader Ilsm Heritage Foundation’s Rant against Reductions to the War Machine:Talking points aired on 14 Aug 2010 AM session of C-SPAN TV. US warfare spending will decline to 3% of GDP by 2019. As if that is a problem. GDP is meaningless, especially when you see the tiny threats that the large percent of […]

Where are the unions?

In These Times Grupo Santander, the global banking giant, last year took control of Sovereign Bank. The largest bank in the Euro-zone, where it is based, Santander is the world’s eighth largest banking company by market capitalization. While the company is very good at generating profits around the world (it’s the world’s fourth largest bank […]

A Sunday suggestion

Donklephant offers the familiar graphs making the rounds on tax cuts comparisons, but the comments were worth reading last time I checked.

Percent of GDP of Defense Spending…correction

lifted from comments from anne at Economistview: Share of Gross Domestic Product of Federal Government, Defense and Nondefense Spending, 2000-2009 January 15, 2010 Percent of GDP of Defense Spending 2000 ( 3.7)2001 ( 3.8) Bush2002 ( 4.1)2003 ( 4.5)2004 ( 4.6) 2005 ( 4.7)2006 ( 4.7)2007 ( 4.7)2008 ( 5.1)2009 ( 5.5) Obama [There are […]

‘Ordered banks to transfer off-balance-sheet loans onto their books’

Lifted from comments in open thread by reader sgetz99: August 10 – Bloomberg (Jungmin Hong and Saeromi Shin): “China’s banking regulator ordered banks to transfer off-balance-sheet loans onto their books and make provisions for those that may default… The assets linked to wealth management products provided by trust companies must be shifted onto banks’ balance […]

Higher Ed Watch update

Higher Ed Watch reports: The student loan company Nelnet announced late Friday afternoon that it has reached “an agreement in principle” to settle a Federal False Claims lawsuit filed against the corporation and five other lenders that engaged in a scheme to bilk taxpayers by systematically overcharging the government for subsidy payments on federal loans […]

Higher Ed Watch

Higher Ed Watch covers the student loan scandal (links and the rest of the article): One way or another, a whistleblower lawsuit filed by Jon Oberg, the U.S. Department of Education researcher who uncovered the 9.5 student loan scandal, against six student loan companies that participated in the scheme should come to a conclusion shortly.The […]