In a democracy, the two major parties spend the majority of their time and energy trying to inform an ignorant electorate that the other party is unfit to rule. And both do that admirably. And both are right.

H.L. Mencken

H/T Kids Prefer Cheese

admin 21/02/2009 admin 21/02/2009

Blog Review 878

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If you're going to try and work out whether fiscal stimulus shortened the Great Depression then the two most important questions are, was there a fiscal stimulus and if so, did it shorten the Great Depression?

If you're going to talk about the unemployment rate worth making sure that you know what it actually is.

Yet more bad ideas: self sufficiency.

What really happens at industry conferences.

Something to ponder about the US: "the important fact that the origins of the United States rest on the economic consequences of unjust government policy. We are a country founded on a tax revolt...."

There's a serious problem with make work jobs.

And finally, what do we tell the children about the world before the internet?

admin 20/02/2009 admin 20/02/2009

Blog Review 877

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blog-review-877

So, does foreign aid actually work or not? Depends upon what you mean by "work".

Not photographing or identifying policemen? How is this going to interact with social media then?

Many say that the solution to the banking problems is to turn them into cooperatives, mutuals. But what is the problem here that mutualisation will solve?

Or bank nationalisation. Is anyone in power actually getting the importance of process here?

Grand Auto Theft. It's not just a computer game you know.

While true, this rallying cry might need further polishing: "Mr Obama, give me back my wallet"

And finally, Allen Stanford, daft bastard.

admin 19/02/2009 admin 19/02/2009

Blog Review 876

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blog-review-876

Dealing with the problem of high marginal tax rates by raising marginal tax rates doesn't, at least on the face of it, sound like a very good solution.

The Obama plan to help homeowners doesn't have all that much to recommend it either.

And this idea that we should all dig allotments? Piffle.

We seem to be running four for four so far on the inanity of government plans: this fourth being about drugs.

Why is Chrysler asking for government funds when it's owned by Cerberus who are not short of funds themselves?

In defence of bonuses.

And finally, financial neologisms (and you can add to the list too!)

admin 18/02/2009 admin 18/02/2009

Blog Review 875

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Excellent couple of political interviews: once Senator insists that taxes are voluntary, a Congresswoman insists that working for less than minimum wage is just fine, as long as they're working for her.

Even if the stimulus works, it won't work: what'll be the effect of politicians getting their hands on the banking syustem?

It's generally agreed that sports stadium building doesn't provide a stimulus: so why should other infrastructure projects do so?

And this scheme is likelty to be expanded as part of our own stimulus. Whoopee, eh?

Introducing Valtio, the country which might give Patri Friedman a run for his money.

Instead of the spies playing economists and the economists spies, why not utilise that insight of Adam's, the division of labour and its specialisation?

And finally, vomitology.

admin 17/02/2009 admin 17/02/2009

Blog Review 874

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When markets rumble a mistake in a market, this isn't a failçure of markets, this is markets working like they're supposed to do.

Financial services are not the be all and end all of the UK economy: and most certainly not all of the growth in it.

Banks have the right of set-off. Some want them not to use it: hang on, aren't we trying to nurse the banks back to health?

Democrats, the poor, Republicans and the religious....and professional politicians.

Was the iPhone simply too good?

Diplomatic blogging like you've not seen it before.

And finally, the world put to rights. Had to happen eventually, didn't it?

Wordsmith 17/02/2009 Wordsmith 17/02/2009

Quote of the week

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quote-of-the-week

The old adage “Everyone’s a capitalist on the way up and a socialist on the way down" is kicking in. The thing is, if you’re a socialist on the way down, you were never really a capitalist on the way up. Capitalism requires putting your own capital at risk. What we do have is a grand adhocracy where “government," a.k.a. Barack Obama, Timothy Geithner, Nancy Pelosi, and a dozen others, will figure everything out as they go. Businesses will rise or fall based on their skill at kissing up to the government. And as sure as shinola, when government fails again, we’ll be told that only government can save us.

Jonah Goldberg, NRO

admin 16/02/2009 admin 16/02/2009

Blog Review 873

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Tsk, what, me, worry? For as we're told, even wasting money, even corruption, is a stimulus, right?

Well, how about that. Lower prices bring out the buyers.

But do higher prices bring out competent politicians? And if they do, won't higher pay bring out the competent bankers?

We could do with a few competent politicians, of course.

How embarrassing, a book on gifted traders includes one running a Ponzi scheme.

Might it be possible for those in charge of protecting civil liberties to actually be able to recognise a civil liberty? Is that too much to ask for?

And finally, boring sport "brought to life" by boring geekery. Or some such.

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