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

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SIGTARP Quarterly Report to Congress

…including the availability of significant leverage, the PPIF transactions in these frozen markets will have a significant impact on how any particular asset is priced in the market. As a…

Thought-Experiment: Assets and Securities

…assume that, since the housing bubble burst, I believe that my house has fallen in value by too much. I would understand a 20% decline, but the “market price” that…

Inflate it Away ?

…cut real debt in half the price level has to double not increase by 50%. OK maybe he meant the real value would be multiplied by 0.9 in a year…

Toxic Sludge Inc

…no accountability, buy the assets for inflated prices. That is a huge transfer from the public to shareholders and officers of banks. A huge pool would be easier to price

What’s dumb about a windfall profits tax?

…windfall profit taxes in the future seems to me to be desireable. It means that Oil companies don’t gain as much when the price of oil goes up. Since they…

Where is the non-Energy Inflation?

This morning the BLS released its estimate of producer price inflation for December: The Producer Price Index for Finished Goods rose 0.9 percent in December, seasonally adjusted, the Bureau of…

George Will on “Low” Gasoline Prices

…into today’s dollar into an inflation-adjusted price of $1.65. In the spring of 2001, the nominal price was $1.70, which translates into an inflation-adjusted price of $1.87. Of course, it…