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

Seven steps to Social Security cuts prophecy

Seven steps to Social Security cuts by Bruce Webb was posted January 2010 this year at Angry Bear and has proven to be prophetic: ‘…is that the strategy to get major slashes to Social Security and Medicare takes an Seven Step and that this technique is not new and in fact mirrors the original plan […]

Obama’s fiscal commission offers recommendations

Some of the recommendations as outlined by TPM from the Pres. Obama’s Bowles and Simpson fiscal commission: Social Security cuts: Index the retirement age to longevity — i.e., increase the retirement age to qualify for Social Security — to age 69 by 2075. Index Social Security yearly increases to inflation rather than wages, which will […]

Gold Standard

Spencer The New York Times had blog commenting on the suggestion that we should return to a gold standard. (NYT Back to the gold standard) My question about such a proposal is what should be the price of gold in the new gold standard ? The 18th century gold standard system that so many people […]

Eurozone rebalancing depends on German inflation

The Federal Statistics Office reported that German consumer prices increased 0.2% on a seasonally-adjusted basis in October, translating into a 1.3% annual gain on a harmonized basis. German prices are very sticky, since the domestic economy doesn’t see the boom and bust cyclical behavior like that in other developed economies. However, inflation may headed north, […]

Post WW2 Private Investment v. New Deal Private Investment

by Mike Kimel Post WW2 Private Investment v. New Deal Private InvestmentCross posted at the Presimetrics blog. I had a post the other day (which appeared at the Presimetrics blog and Angry Bear, and which was followed up by my fellow Angry Bear, Spencer, here) looking at a paper by David R. Henderson about the […]

Rare earths and trade

A battle to keep using rare earths on our terms by Tim Worstall in The Register points to a facet of trade policy that would seem to demand some government action…I fail to see why trans-national companies would feel a need to act at least currently to implement more modern technology (or search for an […]

David Cay Johnston on the Child-Care Credit

by Linda Beale David Cay Johnston on the Child-Care Credit crossposted with Ataxingmatter David Cay Johnston, former tax reporter for the New York Times, now does a column in the weekly Tax Notes called “Johnston’s Take.”  This week, he examines Alan Viard’s claim that the child-care credit is a boon for working parents.   Download Who […]

Political Advice

How many of you read Frank Rich In the Sunday New York Times? http://www.nytimes.com/2010/11/07/opinion/07rich.html?_r=1 It is an interesting approach. But I would do him one better. I would suggest to Obama that he offers the Republicans a deal for the Bush tax cuts for those making more than $250,000. Offer to sign legislation for this […]

Dean Baker on the Urgency of ‘Nothing’ for Social Security

by Bruce Webb A year and a half ago I put up a post here called The Fierce Urgency of ‘Nothing’ whose conclusion was: “Nothing”. The numerically proven plan for Social Security since 1997. So you can imagine my gratification at running across the following by the co-author of the must read book from 1999 […]