Repost from February 11, 2011: Economics 101 from the Center For Freedom and Prosperity: For a lesson in how prosperity can be unleashed when government is restricted to doing those things a government ought to do and little of what … Continue reading
Jaw dropping prediction: Rastani says you can make money on the recession, and on the crash. Well, Michael Lewis, in his book The Big Short, tells the story of how some guys made a ton of money in the … Continue reading
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always … Continue reading
Trying to convince anyone that the bank bailout was a dumb idea, that it would have been better and wiser to have let the stricken banks fail, is a doubtful undertaking. The accepted wisdom is that they were “too big … Continue reading
From David Harsanyi: Recessions come and go. Typically we emerge with strong sustained growth. Not this time. Today we learned that employers added the fewest jobs in 8 months. Unemployment jumped back to 9.1 percent – and really, the level … Continue reading
In a nutshell, here’s what happened. Some politicians, almost all of them Democrats, decided that banks were not making enough home loans to poor people. Banks were demanding what banks have always demanded of borrowers — proof that the borrowers … Continue reading
Keynes: Government should just spend, spend, spend and we’ll all be rich and prosperous. Hayek: Government has no money to spend without taking it away from someone else. It’s like dipping water out of one end of a swimming pool … Continue reading
In the last couple of posts I have referred to “smart economists” in order to distinguish between economists in general and smart ones*. Some are either not very smart or have very poor judgement. A slew of economists, not the … Continue reading
That’s what she said on ABC’s This Week yesterday. She also buys the Mark Zandi theory that says a $61 Billion cut will result in 700,000 jobs being lost. None of that is even close to true, of course. It … Continue reading
We’d be better off because the “balance of trade” doesn’t matter, smart economists don’t care a whit about it, and if there were no statistics on it fools who like to talk about it would be saved from looking foolish. … Continue reading