If you are as cynical as I am, I know you are not surprised that Facebook paid Irish taxes (via Tax Justice Network) of about $4.64 million on its entire non-US profits of $1.344 billion for 2011.* This 0.3% tax rate is a bit below the normal, already low, Irish corporate income tax of 12.5%. […]
When I forwarded this link to Beverly Mann I was interested in following the current thread on civil rights, the legalities of state use of torture, the continuation in the NDAA exclusion of the prohibition of the use of indefinite detention for domestic ‘terrorism’, etc. This note is more a lesson for reading newsy items. […]
Marshall Auerback, a Director of Institutional Partnerships at the Institute for New Economic Thinking (www.ineteconomics.org) Let’s cut the crap about Japan’s Lost Decade. As Hill notes, we tend to use very narrow metrics to determine a nation’s economic success: “Americans are the only ones who seem to think they need three refrigerators, four televisions and a […]
On Wednesday, December 19, 2012 Robert Heron Bork died at age 85. I did not mourn. Bork first became infamous in 1973 for his role in the “Saturday night massacre” when as Solicitor General, the number three position in the Justice Department, he carried out, under President Nixon’s orders, the firing of Watergate Special Prosecutor […]
Bill McBride offers: A little holiday cheer … Discussions of the business cycle frequently focus on consumer spending (PCE: Personal consumption expenditures), but the key is to watch private domestic investment, especially residential investment. Even though private investment usually only accounts for around 15% of GDP, the swings for private investment are significantly larger than […]
Barkley Rosser at Econospeak offers his take on the current political situation and two players. (re-posted with permission from author) Norquist and LaPierre: Emperors Losing Their Clothes? Two figures have held near-dictatorial sway over a majority of members of Congress for several decades: Grover Norquist and Wayne LaPierre. However, both may be losing their grip […]
by Dale CoberlyFareed Zakaria on Social Security Fareed Hearts Pete Peterson Disses your mom Fareed Zakaria wrote an essay for Time, The Baby Boom and Financial Doom. Dean Baker responded to Zakaria with Fareed Zakaria is unhappy that the American left chooses arithmetic over Peter Peterson. Baker makes the point that the increase in the number […]
This will soon be the new look for Angry Bear, and a switch to the wordpress platform from blogger will add considerably to functions. Our advertisements are also missing. The side bar functions will soon be completed (not in picture), and include a blogroll and archives. The top category bar functions can be used to […]
Be safe and treasure loved ones. And thank you readers from all the Bears.
No, not Dr. Black’s blog. The real eschaton: the end of everything. Or, in this case, its economics equivalent: the point at which almost all human work is no longer necessary but human beings still exist. The scenario is a simple one. There are x humans on Earth (x>>1). Self-repairing, recycling machines can provide all […]