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

What is the line between public and private spending?

Via the Washington Post: Here’s David Cay Johnston, interviewed by Joshua Holland (link from Joseph Delaney), in response to a question about “why we have a very low tax burden overall, relative to other wealthy countries, but a lot of Americans feel that they’re being taxed to death?”: Well, one of the reasons some Americans […]

Banks review themselves in England

Here is a video of an interview done by International Business Times UK. The video addresses the issue of “Mis-selling of derivatives” before the crisis. The banks are stalling on judgements so that the time limit passes and people cannot bring claims against them. They are also doing some other unethical things. Yet, the government […]

The simple challenges to Abenomics

This little video puts into 1 minute and 43 seconds, the simple challenges to Abenomics in Japan. Getting money from the corporations into the pockets of the people, namely labor, namely the consumers. Aging population on fixed income. They like deflation. Small percentage of children in population. Children are actually outnumbered by pets.  

Alan Greenspan’s new book

Brad DeLong reviews Alan Greenspan’s new book: Alan Greenspan: The Map and the Territory: Risk, Human Nature, and the Future of Forecasting: The true size of the American subprime problem was hidden for years by the defective bookkeeping of the GSEs…. Not until the summer of 2007 did the full magnitude of the subprime problem […]

The Efficient Racing Hypothesis

by Mike Kimel The Efficient Racing Hypothesis Professor Sporkweather Mo of Fridgewater University has famously postulated that a driver cannot consistently achieve better than average finishes on a recklessness-adjusted basis, provided that all drivers have the same information on track and weather conditions at the start of a race. Using decades of data on drivers […]

Who is the true beneficiary of welfare? or Please define: Entitlement

I wrote in February of 2012 about welfare: Welfare, I’m not hurting from it and neither are you. I noted the following: but it looks to me like what we spend on welfare is not much more than what the government is spending on just doing the government thingy, unless of course people can’t get […]

Irish Austerity Exodus Continues

The Eurozone experiment in austerity continues to fail as the peripheral countries endure ongoing cuts. Following up on my post of August 15, it’s time to look at the most recent Irish immigration data to update it through April 2013 (Ireland records population data from May 1 to April 30) and see how it affects […]