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

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synthetic bonds

…speaking, in bankruptcy code, derivatives counterparty claim[s] can go right through Chapter 11 protection and force liquidation. Chicago Fed in fact had a research paper in 2004 (thanks to Seeking…

Infrastructure 2

…by leasing the lottery and building a casino in Chicago. Illinois will fund infrastructure through gambling monies? (Another thought is how the floods have hit the corn and soybean market?)…

Spatial Price Index

…………………………………117.7 …………89.3 In Chicago the SPI is 107.1 and adjusted real per capita GDP is 109.2 while in Philadelphia they are 107.3 and 113,4, respectively. I’ve put a table comparing…

One Ring, to rule them all

The Chicago Tribune carries this story: New Orleans – If you think the prescription drug you took for headaches caused your heart attack, the Food and Drug Administration says you…

Opus 1, Second movement: On taxation

…THE LAW SCHOOL THE UNIVERSITY OF CHICAGO He puts the issue of law vs economics as a bases for redistribution discussion thusly: The thesis is that the presence or absence…

Post flambe

…“During his speech at the Union League Club of Chicago on Jan. 7, Bush reiterated the importance of continuing his current policies to address what he calls recent economic “challenges.”…