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

Angry Bear 2004: All kinds of catastrophe says Hadrian (prescient!)

Our own original Angry Bear speaking to the Middle East in 2004: Emperor Hadrian Webb’s claims in the first two paragraphs quoted in the previous post remind me of this quote, provided by commenter Megamike: “Beyond the Euphrates began for us the land of mirage and danger, the sands where one helplessly sank, and the […]

David Brat’s Golden Rule

Religious ethics rarely enter into mainstream economic theory, but they are topics that [economics professor cum Eric Cantor slayer David] Brat, who describes himself in his writing as a Calvinist, has turned to repeatedly. In a 2011 article, “God and Advanced Mammon — Can Theological Types Handle Usury and Capitalism?” published in a journal of […]

Is natural gas the next ethanol?

(Dan here) Ceres has published a recent report on growing corn for ethanol costs-relating to water use, where corn is grown, and why. The report includes the impact on global food prices. David Zetland at Aguanomics points us to a growing concern about the increasing use of natural gas (and fracking). Is natural gas the next […]

Tea Party Seizes House Financial Reins: and so Reigns

Quick take on how things are shaking out in House Leadership including Committees: Paul Ryan: from Budget to Ways and Means Tom Price: to Budget Jeb Hensarling: to Financial Services Hal Rogers: maintains House Appropriations Let’s just say that none of those guys seems like champions of the New Deal or likely members of any […]

Why Income Redistribution Doesn’t Hurt Growth

Mark Thoma at MoneyWatch points to : Why income redistribution doesn’t hurt growth, by Mark Thoma: Thomas Piketty’s book “Capital in the Twenty-First Century” documents the increase in inequality in recent decades, and it has rekindled an old debate about the effects of income redistribution on economic growth. Until recently, most economists believed there’s a trade-off between […]

Republicans say they killed the bill that would lower interest on existing student loans because it does nothing to cure cancer … er, it does nothing to lower college costs and therefore reduce borrowing. Or cure cancer.

Republicans said the bill wouldn’t have done anything to lower education costs or reduce borrowing, and they accused Democrats of playing politics by highlighting an issue that was bound to fail. — Senate Republicans block student loan bill, Erica Werner, Associated Press, today The bill, written and sponsored by Elizabeth Warren, would allowed borrowers, including those […]

Interesting Virginia Primary Results Just Moments Ago

Novice Tea-bagger Representative candidate Dave Brat just handed Republican House Majority Leader Eric Cantor a defeat in the Virginia GOP primary. A $200,000 campaign fund challenging a 6-digit campaign fund. Apparently, Cantor was not backwards, conservative enough for the 7th District Tea-baggers. “‘There needs to be a change,’ said Joe Mullins, who voted in Chesterfield […]