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Newt: I’m the Nominee
Getting awfully cocky with Sheldon Adelson’s checkbook, are we, Newton? Unfortunately for you, you can’t un-ring a bell on Ye Olde Internets. Turns out that money Freddie Mac paid him was for for him...
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Yeah, Bring It All Down, Man.
Let this be a lesson to all of you who are emotionally invested in “just letting it all collapse so things can come back better than ever.” All the king’s horses and all the king’s men already had the...
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Cause and Effect. Heard of It?
Eureka Alert: Study reveals an association between impatience and lower credit scores NEW YORK – December 13, 2011 – A study conducted by Columbia Business School’s Prof. Stephan Meier, Regina Pitaro...
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Some “Recovery”
Bill Kristol Standard: Americans’ Incomes Have Dropped 6.7 Percent During the ‘Recovery’ New evidence suggests there’s a reason why this economic “recovery” hasn’t felt much like a recovery. Figures...
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Above the Noise
I don’t know about you, but I’m getting a little tired of all the hooh haw ooga booga about gas prices soaring in 2012. The whole case revolves around two items of conventional wisdom: An improving...
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Meow Mixed Up
The point we’re supposed to take from this story is that the generation proceeding my own suffers from “financial illiteracy.” Though I think that’s a misnomer. If a dog chases a cat up a tree, would...
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Pincher Movement
NYT: More Earners at Extremes in New York Than in U.S. The wealthiest 1 percent of New York City residents took in nearly one-third of the personal income in the city in 2009 — almost double the...
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Clinton vs Newt, Again
It feels like 1996, all over again. Breitbart: Last night in New York City Obama and Clinton held a joint fundraiser. Bill Clinton had to remind everyone of the difference between his presidency and...
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I Follows H
WaPo: Fed: Americans’ wealth dropped 40 percent The net worth of the American family has fallen to its lowest level in two decades, according to government data released Monday, driven by a more than...
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Fact
Used this application to figure out this stat: 1. National debt on June 21, 2012: $15,779,643,362,484.67 2. National debt on January 4, 2007: $8,670,596,242,973.04 3. National debt accumulated...
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Fuzzy Math
Inland Empire WSJ: Cities Consider Seizing Mortgages A handful of local officials in California who say the housing bust is a public blight on their cities may invoke their eminent-domain powers to...
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Buyers and Sellers
Paris AP: France sells bonds at negative interest rate PARIS (AP) — France’s government has sold short-term bonds at negative interest rates for the first time, a sign of investor confidence despite...
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Whole Paycheck
The Late Great American Economy Bloomberg: Low-Paid Grads On Tight Budgets Switching to Discounters Michael Baum took every substitute teaching job he found and has sent out hundreds of resumes since...
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Everybody Can’t Be Happy
Inland Empire Update on using ED to seize “underwater” mortgages. I asked what compensation the bank that drew the original mortgage would receive. Answer: The city pays fair market value to the owner...
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Gigabit Internet — You Don’t Say
Kansas City When most people were able to afford broadband, I made the prediction, with Say’s Law in mind, that instead of existing webpages loading virtually instantaneously, most websites would...
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Supply and Demand
Washington, D.C. My theory on why all these Federal agencies are buying mass quantities of ammunition, including agencies that seem to have no use for it. To wit: NWS is claiming that the hollow...
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Why Black Middle Class Net Wealth Is Declining
BRA I don’t need to quote from the story, or even read the story. Because I have already read this story 100 times before now. They’re all the same, just change the names, the cities and the dates....
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Inferiority Complex
America iStockAnalyst: But what, exactly, does this concern about “inflation” actually reflect? Probably not what we think. Some time ago, my colleagues Mike Bryan and Guhan Venkatu (from the Cleveland...
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Inferior Good
America Bigger stampeding herds during Black Friday this year compared to last is said to be a sign of an improving economy. Wrong. That’s because I think Black Friday is essentially an inferior good...
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Mixed Messages
America Official America says that we don’t save enough money. Then when we do, in the form of 401-Ks, the Yankee government threatens year in and year out to raid our piggy banks, because the poor...
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