This is the object:  No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury,… nor be deprived of life, liberty, or property, without due process of law;   It’s all one sentence. Any questions?   This is Art: The lyrics of […]

In Part 3 of this series, I wondered a couple of things.  – With the vehicle/1000 people number in the range of 825 to 845 since 2004, is the market near saturation?– Is the January sales number of 14.2 SAAR (seasonally adjusted at annual rate) enough to maintain the vehicle/1000 people number? For the first […]

by Mike Kimel Random Thoughts on the Cato Dispute Recently there’s a bit of a to-do about the battle for the soul of Cato, one of the big Washington policy think-tanks. I’m at best a disinterested observer – unlike most people weighing in, I have no conceivable stake in the outcome. I can’t see any […]

by Rebecca Wilder Euro Area GDP Report: Not Pretty Today Eurostat released the second estimate of Q4 2011 Gross Domestic Product. Real Euro area (EA) GDP declined 0.3% over the quarter (-1.3% on an annualized basis). In this release Eurostat provides a breakdown across region, spending categories, and industry, and is much more detailed than […]

by Linda Beale Greg Mankiw attempting to justify carried interest Greg Mankiw wrote an op-ed in the Sunday Times Money section: Capital Gains, Ordinary Income and Shades of Gray, New York Times (Mar. 4, 2012). Mankiw notes the historical trend in the US to differentiate between capital gains and ordinary income regarding tax rates (though […]

My last post prompted me to revisit one from last May that I thought Bears might appreciate. For your delectation: Conservatives love to point out that our employer-based health insurance system is a result of wage controls under FDR. Since employers weren’t able to attract workers with higher wages, they started offering benefits instead — notably […]

Or: You Just Can’t Make This Shit Up “Health Care Costs Put U.S. at Significant Disadvantage Compared with Global Competitors” I’ll let you read the details, but short story: Whodathunkit? And what do they recommend? Creating greater consumer value in the health care marketplace by using health information technology and empowering consumers with more information […]

Eminent New Keynesian Economist Susanto Basu commented on a post challenging people to come up with an empirically useful idea in macroeconomics not to be found in “The General Theory of Employment Interest and Money.” Here I will just note again how incredibly polite New Keynesians tend to be. bold numbers added for future reference […]

Or: Even a Stopped Clock is Right, Eventually For quite a while I’ve been explaining the rabid, frantic vehemence of tea partiers and Republicans in general with a single visualization: They’ve got their backs against the seawall, and a massive, overwhelming demographic tidal wave is looming over them. The terror that situation provokes among old, […]