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Category Archives: Economics

No experts need apply

My wife and I have taken to watching Countdown every night. I freely admit that I watch it mainly to have my views reinforced. It’s still a refreshing experience to watch anything on television that isn’t skewed to the right. I’m not necessarily blind to the shows defects, however. I’ve noticed, for instance, that the […]

Not looking good

It is helpful, in these days of Obama stumbles, to remember that it took Bill Clinton quite a while to get his sea legs. On the other hand, Clinton never promised, and never attempted, to deliver fundamental change. Nor did he have the opportunity to change the national conversation the way that Obama does. We […]

Bonuses for regulators?

I actually think this is something worth exploring, from the New York Times’ Andrew Sorkin: Maybe someone deserves a bonus. Like someone who sniffs out the next Bernie Madoff. Or jousts with tomorrow’s gonzo bankers. Or defuses the Next Big Crisis in whatever Next Big Thing is dreamed up by Wall Street. Someone, in short, […]

A prediction

Once again Paul Krugman nails it in this morning’s Times. The Obama Administration, whether through timidity or ideological rigidity on the part of its economic team, seems poised to follow in the footprints of the Bushies. Well, not precisely. Bush spoke softly and carried no stick. Obama speaks harshly, but goes similarly unarmed. When I […]

Ben Stein expelled from Vermont

There has been a bit of a storm brewing in the reality based scientific community, Darwin division, since Ben Stein was named to be the commencement speaker at the University of Vermont. Stein was the front man for a film called Expelled, which was ostensibly about the victimization of Darwin doubting scientists, but which was, […]

Told you so, even if I didn’t understand it

Last year I wrote a post about credit default swaps. A few days later I was on a cable access television show and I was asked to explain them. I wonder if what I said made sense. From what I read then, it seemed clear that these instruments were a potential economic land mine: … […]

The next act

Here we go again. Pro Publica reports that the next financial meltdown is coming to a community bank near you, particularly if you live in an area that has seen a lot of development in the past few years. …small banks are suffering from a wave of defaults on construction and development loans that could […]

Econ 101

This pretty much sums it up: Thanks to the folks who passed this on to my wife, who passed it on to me, who probably had it passed to them from someone else. (Click on the image to see a larger, readable version)

A More than Twice Told Tale

Further proof, if any were needed, that something has to be done about the compensation system in corporate America. From a Times article about the collapse of Washington Mutual, we read that Washington’s aggressive foray into the world of sub-prime mortgages was spearheaded by a go-getter chief executive, Kerry Killinger, who created a corporate culture […]

Silver Linings

Even Depressions do some good: Hundreds of churches across the country have received foreclosure notices in recent months, and even more are behind on mortgage payments. An economic downturn tends to increase church attendance, but the amount each churchgoer donates tends to decrease. And newer members usually donate less than older ones. Churches can trim […]