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

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The contrarian addiction

…protects the public from food-borne illnesses. It issues nutritional advice and drug labeling guidelines. It polices false medical claims on packaging and in advertisements. It safeguards about one in every…

Accounting for Scott Sumner

…been predicting that for months. His accounting strikes me as very odd. Last I hear, the total cost of bailouts (including GSEs, AIG, GM and Chrysler) was predicted to be…

Government sponsored enterprises

…weekend Washington Post column that the auto bailout was a privatization of profits but a socialization of losses. The full post, which is at Annarborist, and is called I Beg…

Good Summary, with Expanded Notes

…critical, while the bailout of the auto industry caused by the fact that the banks spent the money on acquisitions and executive pay instead of lending it, is not critical….

Plunging U.S. car sales for September

…slumping industry and raised new doubts about when the world’s largest auto market would stabilize. The 26-percent drop in industry-wide auto sales was sharper than expected and coincided with a…

FYI – labor contracts by auto company

by reader Movie Guy It might be helpful to read the 2007 contracts negotiated between the UAW and GM, Ford, Chrysler. Recommend reading the highlights if not the contracts. Might…

INDUSTRIAL PRODUCTION

The industrial production report this morning was muddied by the auto parts strike. Overall manufacturing output fell 0.8%, but excluding auto and auto parts manufacturing output fell 0.4%. Because the…