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

Don’t encourage them…

Via Holly, I learned of this cool site called: Sidewalk Bubblegum.   The subtitle is: Cartoons about War, Racism, Sexism, Capitalism, Worker Rights, Human Rights, the Environment and Consumerism. I really thought this one gets it so perfect.  From 1996 no less!  

Crony Capitalism And Its Variety Of Flavors

I can’t help but think that Romney’s newly invigorated crony-capital (e.g., Solyndra) schtick is very much a double-edged sword for him.  I mean, isn’t he the candidate who, notwithstanding his claimed concern about the federal deficit, refuses to support the proposed elimination of the federal government’s subsidies to the oil and gas industry, and who […]

"Business Leaders of Today are Not Capitalists"

Via Mark Thoma comes this thinking on the nature of our economic system and by John Kay at the Financial Times in Business Leaders of Today are Not Capitalists. John Kay says that the term “capitalism” is misleading in modern economies: ..So the business leaders of today are not capitalists in the sense in which […]

Closing Wall Street’s casino

Via Reuters comes David Cay Johnston’s musing on Closing Wall Street’s casino: A superb example of a sound rule in law and economics that needs reviving, because it can halt the rampant speculation in derivatives, is the ancient legal principle that gambling debts are not enforceable through court action. Not so long ago — before […]

Hank Paulson and Some Animals Are More Equal than Others

byMike Kimel Barry Ritholtz points us to a Bloomberg article showing, once again, that when it came to measures to prop up the economy in 2008, some animals are more equal than others: Paulson explained that under this scenario, the common stock of the two government-sponsored enterprises, or GSEs, would be effectively wiped out. So […]

crony capitalism and casino capitalism–bad flavors for right or left, per Kristof and Stiglitz

by Linda Beale crony capitalism and casino capitalism–bad flavors for right or left, per Kristof and Stiglitz The Occupy Wall Street focus on “we are the 99 percent” juxtaposed with the CBO’s recent report on the growing inequality in America (see here) come at a time when the American right is pushing hard for policies, […]

"Ben Tre Logic" Redux: History Repeats Itself

Forty years ago, in 1968, an American major after the battle of Ben Tre in Viet Nam was quoted by Peter Arnett as having declared, “It became necessary to destroy the town to save it.” Now, we have the contemporary version, from U.S. President George Walker Bush: “I’ve abandoned free-market principles to save the free-market […]

The Counterpoint to CR’s Argument, as Stated Below

We already gave them $900 Billion. (Or, as I would prefer to write it, just so everyone understands: $900,000,000,000. About 3,000 a person, or 26.7% of the annual median household income, assuming a family of four.) What would makes anyone think another $700,000,000,000 will solve the problem? Just because “sooner or later, you’re talking about […]