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

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Draining liquidity from the banking system

…This is all hot air for now. How can the Fed soak up the expansionary liquidity, let alone unwind $1 trillion in assets, when the banking system is still shedding…

Karl Rove on Health Insurance

…out of thin air and nobody gets hurt. Fixing prices at less than market rates will continue under any public option. What prices qualify as less than market rates? As…

More than numbers and sanctity of bonus contracts

…country, pensions guaranteed by union-negotiated contracts are vanishing into thin air, casualties of bankruptcy, economic upheaval, and flawed legislation. Pensions have turned to dust at airlines (United, Delta), steel companies…

Cap-and-Trade Proposals…and truth in spending

…change—whether it is through the risks of increased food prices if climate change disrupts crops, the lack of access to air conditioning under extreme heat, or vulnerability to other extreme…

TBI is a financial thingee?

…150,000 service members from the Marines, Air Force, Army and Navy have undergone the testing that became mandatory last year. Those who suffer a concussion or similar head injury will…

The Hilzoy Manifesto and a Small Addendum

…would add one a paragraph to make it clear this is more than opinion pulled out of the air: We know this because we’ve learned from history. We’ve seen it…

Representatives Soak Some of the Rich

…be better if in the future, people in similar positions were very afraid of making such mistakes. This is just internalizing externalities — trust in banking is like breathable air