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

Let the Rich Bail Them Out

Stormy Let the Rich Bail Them Out. So says Bernie Sanders, now the Independent, junior senator from Vermont, formerly the “longest serving independent member of Congress in American history”– sixteen years. Bernie makes some cogent points: This bill does not effectively address the issue of what the taxpayers of our country will actually own after […]

Municipal Finance and Depression

Ken Houghton I’ve been trying not to talk in these terms, but I’m sick, and Walter Jon links to an article in the Chronicle of Higher Education that puts it out in the open, so let us compare: The problems had emerged around 1870, starting in Europe. In the Austro-Hungarian Empire, formed in 1867, in […]

From the Horse’s [Mouth]

By Steam Fangs Palin (Tom Bozzo) On 60 Minutes, John McCain helped resolve a couple of issues that occupied the comments last week. Q1. Did McCain support Gramm-Leach-Bliley? A: Yes, and he still does! PELLEY: In 1999, you were one of the Senators who helped pass deregulation of Wall Street. Do you regret that now? […]

Dep’t of WTF (McCain and Economic Crisis Management)

At Americablog, Robert Arena writes: Watching John McCain’s economics speech in Wisconsin. It’s like watching a modern day Herbert Hoover live. He really doesn’t get it… – He went through a castigation of the Fed and basically told them to stay out of this – I mean, does he really not understand that the Fed […]

A Quick One: Inflationary Credit Recession Strategies

Tom’s doing some heavy lifting, PGL is in form, Bruce has started SocSec 101, and the entire economics blogsphere is having so many conniptions over Hillary that you’d think the CEA was actually the Shadow Government. So I just want start easy, and take a look at three easy-to-compare data points:First, the Federal Funds target […]

Before netting, before zero sum ownership society

Numbers work in Credit Crisis for Kindergartners. . AliceAssetsPhysical marbles: 4Marbles promised from Bob: 0Marbles promised from Sue: 2Total assets: 6 LiabilitiesMarbles owed to Bob: 7Marbles owed to Sue: 18Total liabilities: 25 Equity: -19 ——————————————————————————–BobAssetsPhysical marbles: 6Marbles promised from Alice: 7Marbles promised from Sue: 1Total assets: 14 LiabilitiesMarbles owed to Alice: 0Marbles owed to Sue: […]