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

International Debt and Financial Crises

by Joseph Joyce  (re-posted from Capital Ebbs and Flows) International Debt and Financial Crises The latest issue of the IMF’s World Economic Outlook has a chapter on global imbalances that discusses the evolution of net foreign assets (also known as the net international investment position) in debtor and creditor nations. The authors warn that increases […]

Is Piketty wrong about British and Swedish wealth?

Embarrassingly, I missed this reply by Tim Worstsall to my post “Understanding Piketty, part 1.” My apologies to Mr. Worstall and my readers; despite his writing it August 14, I just discovered it the other day when I was mindlessly looking at site traffic data from Alexa. In his post Worstall takes issue with Piketty’s […]

Invisible Hands: The Businessmen’s Campaign to Dismantle the Post Office

Guest Post by Steve Hutkins a literature professor who teaches “place studies” at the Gallatin School of New York University. This is Part 1 in a series of 3 articles as written by Steve Hutkins in 2012. These articles originally appeared on the “Save The Post Office Blog”. Steve lives in a small town in […]

Are Poor People Consuming More than They Used To? Six Graphs

“Poor people today have air conditioners and smart phones!” You hear that a lot. “You should be looking at poor people’s consumption, not their income. By that measure, they’re doing great.” The basic point is very true. If poor people today have more and better stuff, can buy more and better stuff each year, maybe we […]

US Postal Management’s Dysfunctional and Failing Culture

by: Mark Jamison; A retired Postmaster having served the town and community of Webster, N.C. Mark can also be read on Save The Post Office, a blog discussing the state of the USPS. “In the following weeks, Mr. Green would go on to scream at me, ALL YOU ARE IS A LIABILITY, YOU EXIST ONLY […]

Iceland: Bankers convicted, unemployment down

Remember Iceland? During the high-flying early 2000s, its three main banks went berserk, paying high interest rates to international investors that accumulated deposits equal to more than 100% of the country’s gross domestic product (GDP) and making loans equal to 980% of GDP. When the collapse came, Iceland took a route not taken by Ireland, […]

Indiana Toll Road

PGL at Angry Bear wrote several posts on the privitizing of the Indiana Toll Road in 2006 as a commenter reminds me at hearing of the news the firm that bought it went bankrupt: Via Daily Kos In 2006, Mitch Daniels, then the Republican Governor of Indiana, signed into law a “major moves” bill that, […]

Freedom! Liberty! And Being For the Little Guy. As Brought to You By the Conservative Movement.

Update appended below. (Second indented quote format also corrected.) —- In the Comments thread to Dan Crawford’s post below titled “Kalamazoo County Michigan…People and Offices to Write to Protest the Stealing of a Home,” I wrote: Dan, you don’t understand. This is freedom, see. I mean, it’s not like it’s the FEDERAL government that’s doing […]

In Praise of Net Social Benefits

  When someone says, “if we raise the minimum wage, there will be more unemployment.” That may be true, but their fear of unemployment is not wise. It is better to say, “if we raise the minimum wage, will net social benefits be increased?” When someone says, “if the Fed had gradually raised the Fed […]