ShareIn the months since I began this website, I have had some fairly harsh things to say about economic policy in the U.S., the U.K. and elsewhere. I have consistently condemned what I think is a captured government promoting an unstable financial system and a bloated financial sector. But, I have made a conscious effort [...]

ShareThe title of this post is somewhat misleading – designed to be provocative to get you to read what I have to say. Indeed, I am going to defend Goldman Sach’s right to pay what it likes to its employees. But, I am also going to defend your right to be outraged and to look [...]

ShareThe following is a re-print of the latest monthly newsletter from Niels Jensen of Absolute Return Partners, published with the express permission of the author. Visit www.arpllp.com to learn more about Absolute Return Partners.  You can reach the firm  by email at info@arpllp.com.
The Absolute Return Letter
October 2009
A Country for Old Men and a Bit of [...]

ShareJesse of Jesse’s Café Américain posted on the important subject of deregulation in his last post, “Why the Austrian, Keynesian, Marxist, Monetarist, and Neo-Liberal Economists Are All Wrong.” In it, he opined that it is entirely wrong-headed to assume everything will be alright if we just let free markets work their magic. I want to [...]

ShareMany economic prognosticators believe Chinese consumption growth is key to a global economic recovery.  The US consumer, who had been the buyer of first and last resort during the bubble years, is tapped out and indebted.  The new engine of global growth must come from elsewhere.
On Friday, BBC Radio 4 released a broadcast called “Selling [...]

ShareThis was a front-page story at the Wall Street Journal today.  It should bring home the problem with lack of benefits in America. Also see Mark Thoma’s post yesterday on health care called "The Hottest Places in Hell are Reserved for Those Who, in Times of Moral Crisis, Maintain a Neutrality".
A link to the WSJ [...]

ShareCredit is still tight despite the low Libor rates and other signs that market stress has died down. Case and point is an item I ran across on the Norwegian site E24. Apparently, Amsterdam is losing revenue as its prostitutes in the red light district cannot get credit.  Here is my translation of the story:
The [...]

ShareIn America tomorrow is July 4th, which is a big celebration.  For a lot of people it means fireworks.  But, fireworks are actually pretty dangerous.  So before you go out and buy those illegal M-80s, you need to watch this video.  Do not try this at home (you know I’m talking to you David).
Otherwise, have [...]

ShareJust when you thought things couldn’t get any more questionable in Washington, then along comes this (hat tip Tom).
Washington Post publisher Katharine Weymouth said today she was canceling plans for an exclusive "salon" at her home where for as much as $250,000, the Post offered lobbyists and association executives off-the-record access to "those powerful few" [...]

ShareAs Americans ponder the health care reform initiatives now coming from Congress and the Obama Administration, I want to say a few words about what the subject means to me.
America is often touted as the richest country in the world.  It is certainly a rich nation with an advanced economy.  As such, certain basic services [...]