Econ70

Banking the Bucks

04/04/2012

Despite what you think, monetary policy has not been expansionary, and that’s the problem. While the Fed’s assets grew from $0.8 trillion to $2.8 trillion between 10/08 and 7/11, it was matched, almost dollar for dollar, by a $1.6 trillion…

Read More

Political Payoffs

04/03/2012

According to an article in Party Politics, President Obama gave $6,409, on average, to 100 Democratic superdelegates, while Hillary Clinton only gave $5,266 to 47 SDs. There are 840 SDs and they comprise 20% of the Democratic delegate total. In…

Read More

Raiding the Piggy Bank

04/02/2012

Despite good job growth, consumer spending is growing faster than personal income, driving the savings rate down to 3.7%, the lowest rate in years. Why? Unemployment insurance income is falling. In Jan and Feb 551K jobs were created while 550K…

Read More

$3,000 for a Shot?

03/30/2012

The Friday File: A 55 year old bottle of Glenfiddich Janet Sheed Roberts Reserve, a single-malt scotch, sold (to a whisky investor) at auction for a record $94,000. Janet Sheed Roberts is the oldest person in Scotland at 110 and…

Read More

Interested in Debt?

03/29/2012

US student loan debt recently hit $1 trillion as students struggle to pay soaring tuition costs. Worse, student indebtedness is growing not only due to new loans but also due to graduates who are unable to make their payments and…

Read More

Skimpy Buffet

03/28/2012

The Buffet Rule, a tax code change designed to prevent the wealthy from paying taxes at lower marginal tax rates than the middle class, is estimated to raise $50 billion over a decade. While that’s more than I make, it’s…

Read More

The Supremes

03/27/2012

Opponents of healthcare reform (PPACA) contend it’s unconstitutional, as it forces us to buy health insurance or pay a fine. But is it? Suppose the IRS raised our taxes by the penalty amount, then gave everyone with insurance a deduction…

Read More

Where’s Daddy?

03/26/2012

While 59% of all children are born to married couples, two-thirds of all children are born to mothers under 30; among that population, over half of all births now occur outside marriage. One reason why is real earnings of men…

Read More

Britannica Bye Bye

03/23/2012

The Friday File: Encyclopaedia Britannica, first published in 1768, announced it will no longer put out a print edition. In ’90, its peak year, EB sold 120,000 copies, but at $1,395 a set, sales in ’10 were just 8,000. Can…

Read More

Next Time it’ll Hurt More

03/22/2012

Hard as it was, the recent Greek default was easy because Greece just stiffed private banks and hedge funds. Next time – yes, next time – it will be harder. This is because most of Greece’s debt is now held…

Read More

Recent Posts

Categories

Archives