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

Mortgage Broker Association strategic default

I just can’t resist this story of moralizing and posturing for the cameras by MBA and matter of fact dailey business practice. Out loud, in the open, in your face…and no surprises, but are we really that disconnected from ourselves? The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Mortgage Bankers Association […]

What a Recent In-Chambers Order By JUSTICE SCALIA Illustrates about The Supreme Court

by Beverly Manncrossposted with Annarborist Dan here..This post is quite long but interesting in the workings of the court and decision making process. Take the time, you will be rewarded. WHAT A RECENT IN-CHAMBERS ORDER BY JUSTICE SCALIA ILLUSTRATES ABOUT THE SUPREME COURT In a recent court order issued from his chambers that garnered attention […]

EMPLOYMENT REPORT

The employment report was weak across the board as the unemployment rate remained at 9.6% as government employment fell -159,000 reflecting both falling temporary Census jobs and loses of some -76,000 local government jobs in both education and noneducation. Private payroll jobs expanded by 64,000– about the same as over the last few months. Hours […]

Cash-Strapped States Resurrect "Debtors’ Prisons"

Cash-Strapped States Resurrect “Debtors’ Prisons” Former Montgomery County, Ohio, public defender Glen H. Dewar is profiled in the ACLU report for his efforts in eliminating the state’s debtors’ prisons. Dewar stated in the report, “My estimate is that 20 to 25 percent of all local incarcerations statewide are for fines and costs, while about 50 […]

Provision of a public good…to mandate or not

Center for Business & Public Policy suggests some complications with public goods and taxes/fee for service in the case of the Obion county, Tenn. man and the fire department story. One is freeriders, but there appears to be more than that: The city of South Fulton in Obion County, Tennessee, offers fire protection to households […]

Thinking out loud on meanings

Kevin Drum in Mother Jones posits this idea: There are several fascinating components to prospect theory, but the one that’s influenced me the most is also the simplest: when faced with a choice, people are far more motivated by loss aversion than by risk aversion. Basically, what this means is that the emotional distress you […]

Repatriation of $

Repatriation of $ from Center on Budget and Policy Priorities reminds us from 2009: The Business Roundtable and Chamber of Commerce have proposed resurrecting, as a stimulus measure, the 2004 “dividend repatriation tax holiday,” which allowed firms to bring their foreigngenerated profits back to the United States at a greatly reduced tax rate. The Joint […]