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

"Despite"? Did they mean "Because"?

“Despite”? Are they sure they didn’t mean “Because”? by Noni Mausa From the online medical news resource Medscape, a very rich source of breaking health news, comes this study from the World Health Organization on worldwide drug use. Once again, world leader America takes the Number One position! **** U.S. Leads the World in Illegal […]

G-8 and silence on the web and media and a challenge

by reader Movie Guy (Lifted from comments cactus style) I have reviewed the majority of American econ blogs during the past few days. Hit the supposed heavy ones again tonight. The econ blog subjects range from stupid to domestic but very few step beyond the borders of the USA. It’s as though the lights are […]

Social Security is "an absolute disgrace"

Talking Points Memo has a video where John McCain not only wants private accounts, but calls Social Security “an absolute disgrace” and “will not be there for the next generation”. Boomers are sponging off the next generation. I will look for a transcript…this is not in his plan. If this is the way he plans […]

"WORLD ENTERING A DANGER ZONE", according to World Bank

by reader Movie Guy (Updated and polished) “WORLD ENTERING A DANGER ZONE”, according to World Bank Global Food Crisis Bottom line: Food CrisisWorld Bank Rising Food Prices Threaten Poverty ReductionApril 9, 2008, World Bank Volatility in Agricultural Commodities – An UpdateMay 2008, World Bank Rising Food Prices in East Asia: Challenges and Policy OptionsMilan Brahmbhatt […]

The Last Word on The 300

From me, at least, goes to Hilzoy and the off-my-reading-list-for-politics Obsidian Wings: while I’d ordinarily assume that economists signing on to “John McCain’s plan” were signing on to the actual document he had released, the fact that those 300 names were released within hours made me wonder whether all of them had had a chance […]

Milton Friedman Meets Robert Klitgaard

I encountered the writings of Robert Klitgaard twice. I read “Tropical Gangsters” an excellent book on his experience working for The World Bank in Ecuatorial Guinea which is not to be confused with the epymenus epyminus (oh hell I’ll never guess the spelling of that word ) CD by King Creole and the Coconuts. Years […]

Knowledge based funding approach

by ilsm The latest report, a continuing subject for GAO, observes that “A Knowledge Based Funding Approach COULD Improve Weapon System Acquisition Outcomes”. See for the whole set of observations. From an economic, as well as a cost accounting, perspective how could anyone spend anyone else’s money without rudimentary knowledge of WHAT they could get […]

Another math story

by coberly I was listening to radio for smart people the other day when they did a piece about the effect of high gas prices on the price of gas guzzling cars. They followed the owner of a very high-end SUV as he drove into the used car lot and asked how much he could […]

Stock Market Premia, or, Everything Old is New Again

I don’t like talking about stocks. I believe the market is rigged, that the allocations do not favor the investor who is not also a senior executive of the company and/or a member of the Board of Directors, and that reported profits and losses on a quarterly basis is a lousy way to run a […]