ShareA while back I wrote a post called A populist interpretation of the latest Boom-Bust cycle that used a passage from Jared Diamond’s Pulitzer Prize-winning Guns, Germs and Steel on kleptocracy as a jumping-off point for a larger discussion about wealth distribution. The overall gist was that almost all societies have unequal distributions of income [...]
government's tag archives
A more in-depth description of how elites maintain status quo ante
Feb
Record state unemployment insurance borrowing pressures budgets
Feb
ShareLast week I showed you a chart from ProPublica in my post State unemployment insurance insolvency: 50 little Hoovers which demonstrated how states are being killed by the financial strains of unemployment insurance. Well, this week ProPublica is back with more detail behind that chart – and, as you can imagine, it’s not exactly bullish.
They [...]
197 views
Increasing layoffs could spell trouble for economy
Feb
ShareIf you have been watching the news flow in the last month, you would certainly have the impression that there are an increasing number of large layoffs – Sam’s Club being a notable one. Before January, the jobless claims numbers pointed to a weak but somewhat improving layoff picture. But, there has been an alarming [...]
Chart of the day: Clusterstock – How the AIG bailout worked
Jan
ShareThis is a great graphic showing the money and asset flows in the AIG bailout that makes it far easier to understand why people are calling the AIG bailout a backdoor bailout of AIG’s counterparties. Take a look.
Source
CHART OF THE DAY: How The AIG Bailout REALLY Worked – Clusterstock
745 views
Breaking: Darrell Issa asks for a subpoena in AIG bailout cover-up
Jan
ShareI just received this document from an interested reader. It is a request by Congressman Darrell Issa for a subpoena to be issued in order to facilitate the investigation surrounding the AIG cover-up. Apparently, evidence has now surfaced about Federal Reserve Chairman Bernanke’s role in the AIG saga that is germane to this issue. [...]
539 views
State unemployment insurance insolvency: 50 little Hoovers
Jan
ShareThis problem is going to be solved via tax increases a la Oregon or spending cuts a la California before FY 2011 hits in July. (hat tip Gregor)
(click image to enlarge)
Source
Unemployment Insurance Tracker – ProPublica
Constitutional Convention Updated
Jan
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Poll results: Why Obama has ratcheted up the populist rhetoric
Jan
ShareThe poll results are in on why President Obama has begun a ‘War on Wall Street.’ A majority of CW readers believe President Obama’s recent populist turn and harsh rhetoric directed toward Wall Street is a political stunt. And to the degree CW readers believe otherwise, they see the latest salvos as only a start. [...]
570 views
Marc Faber: Obama makes Bush look like a genius
Jan
ShareMy favorite economic entertainer is back with his usual over-the-top semi-apocalyptic comments about government officials, the U.S. and more. Here are a few choice quotes from Dr. Doom followed by the full videos of his session on Squawk Box on CNBC Europe below.
On Obama
I don’t have a very high opinion of Mr. Obama. I was [...]
881 views
Libertarian paradise in Somalia
Jan
ShareThis is pretty funny. Hat tip Linda.
By the way, Linda, this is not my Libertarian ideal! It’s called anarchy.
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- edwardnh: @michaeljung: The @SmartMoney comment is not true. The labor force participation rate was up both SA and unadjusted.
4 days agoedwardnh: @SmartMoney actually that's not true on labor force. rate fell because of seasonal adjustments http://bit.ly/bzI1RR
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4 days agoedwardnh: Just added two charts: Unemployment number decline is all about seasonal adjustments: Credit Writedowns http://bit.ly/bzI1RR
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