by Mike Kimel A Few Graphs on Real GDP Growth Rates versus Taxes and the Size of GovernmentCross posted at the Presimetrics blog. This post has a few simple graphs showing the relationship between the growth in real GDP and a few other variables: the top marginal tax rate, spending by the federal government as […]
The first letter from Ireland is here Update on conditions in Ireland…a second letter from Ireland Ireland, Land of Thieves, Charlatans and Sodomites… Zeus-Boy We’re forced to do silly things out of desperation, things that other nations don’t have to resort to. For instance, we’ve the lowest corporate tax rate in Europe at 12.5%. Sarkozy […]
It occurred to me that some Angry Bear readers may be interested in a short analysis of the Egyptian bond market. Professionally, I’m a macroeconomic analyst and portfolio manager on a global fixed income team. Since we do trade emerging market debt, of which Egyptian debt is categorized, I’ll be happy to comment. The gist […]
As the late Allison Snow-Jones noted, economics depends on working mathematics. Mathematics, in turn, depend on the conditions being described correctly. If I build a model in which two things are independent, they have to be independent for my model to work. Or, to quote a quoting: Many months ago, I quoted the brilliant Janet […]
It’s easy as ABC Hilariously, the result of Ryan’s Dave-like search through the budget — and the only example of a putative budget savings mentioned anywhere in the piece — is his claim to have discovered a savings in the student loan program. In fact, this example is exactly the opposite of what Ryan (and […]
Last night and today I watched on Al Jazeera (streaming) what sure looks like a Egyptian revolution. At the moment Hosni Mubarak is still President, however, he is not in control. The apparent turning point occured when he sent the army to suppress demonstrations after the vastly outnumbered security police didn’t manage. This is a […]
Hat tip Yves Smith for pointing us to this: 8 PM EST Watch Dylan Ratigan Town Hall Session on Jobs, Innovation Check in here at 8 PM to watch the Dylan Ratigan “Innovation in America” panel discussion as part of its Steel On Wheels Tour tonight at 8pm EST at the University of Denver. The […]
by Linda Beale ABA Tax Section Report on the Economic Substance Doctrinecrossposted with Ataxingmatter The ABA Tax Section put together a large working group to write a report on the newly codified economic substance provision–Download ABA Economic Substance. Comments on Notice 2010-62. The working group was led by several people, including Michael Desmond, who just […]
There are two measures of income: the spending side (Gross Domestic Product, or GDP) and the income side (Gross Domestic Income, GDI). I’d like to see what GDI is telling us about the Y/Y recovery, since it’s a better predictor of turning points, according to FRB economist Jeremy J. Nalewaik. The chart illustrates the contribution […]