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

Opus 1, Second movement: On taxation

“Servers, labourers, and workmen of different kinds make up the far greater part of every great political society. But what improves the circumstances of the greater part can never be regarded as an inconveniency to the whole. No society can be flourishing and happy, of which the far greater part of the members are poor […]

Stimulus Package? Ok. But Deal with the Real Problems.

Most stimulus packages–particularly those that are just handouts or temporary tax cuts–make even more private debt public. And, as we know, the government is already deep in hock, financed primarily by official inflows, i.e., foreign central banks. All pipers must, at some point, be paid. At some point, those foreign banks must be paid. Inflation […]

What Fiscal Stimulus needs to look like

Fiscal stimulus? All sorts of numbers being tossed around, not sure where they are coming up with them from. But, if we are looking to drive a consumption based economy, it seems to me we have to get money into the hands of the most consumers on a regular basis. Here is what has to […]

In the Beginning there was Income

As noted in my last post, I have been playing with income data. I believe that for us to be able to properly understand just where we have been and where we are going, we need to look further back than say the 50’s through Reagan’s time. That is, if the data is around. I […]