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Library of Economics and Liberty
The cuneiform inscription in the Liberty Fund logo is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash. nail art
ECONOMICROT
"Randy, what happens when the majority of America walks away from their home knowing that it is toxic waste? How does America respond to that? It's going to happen and the Government knows it.At Milken, Feelings of Malaise ... If a single word captured the mood of the Wall Street contingent at this year's Milken Institute Global Conference, "uncertain" would fit the bill. "There's a lot of uncertainty in the U.S.," said Steven Drobny of Drobny Global Advisors, who was the moderator of a panel on alternative investments on Wednesday. Those words, more or less verbatim, were also relayed by members of panels on mergers and acquisitions, private equity and the global credit market. "People are waiting and wondering what's happening," David Bonderman, the TPG Capital co-founder, said during the private equity panel.
The Daily Bell
There are many reasons why gold is still our favorite investment – from inflation fears and sovereign debt concerns to deeper, systemic economic problems. But let’s be honest: It’s been rising for over 11 years now, and only the imprudent would fail to think about when the run might end.
PRAGMATIC CAPITALISM
Welcome back to China Financial Markets. We had trouble with our old host and had to set up a new one. In doing so, however, we lost most of my postings since last August along with the comments. I will be able to set up the posts again, but the comments are probably lost forever, which is a real pity because the comments have made this blog a whole lot more interesting.
China Financial Markets
The insights provided to Jay came from a history professor in 1967 who advised Jay that when countries go off a gold or silver standard, hard economic times are sure to follow because nations become lazy. They think they no longer need to work hard and save to build a better future. Economic disaster is sure to follow.
Turning Hard Times into Good Times | VoiceAmerica™
EconLog | Library of Economics and Liberty
"Let's make our demand for gasoline even more inelastic." Other economists suggest a gasoline tax that would increase as gasoline prices fall toward a predetermined floor and decrease as pump prices rise above it. This way, OPEC countries would be unable to manipulate prices lower so as to destroy the returns of persons risking capital in alternative-energy investments, which the cartel has adeptly done in the past. This is from Jim McTague, "Obama is Humbled by the Market," Barron's , March 24, 2012. Greg Mankiw linked to it this morning.
Europe’s leaders — that is to say German Chancellor Angela Merkel and the bureaucrats running the various eurozone agencies from Brussels — have looked into the abyss and don’t like what they see. Specifically, a default and departure by even a relatively insignificant country like Greece might start a contagion that cripples or destroys the [...]
Your Ringside Seat to the Global Financial Crisis – DollarCollapse.com
Mish's Global Economic Trend Analysis
Today I'm going to share a personal struggle with you. This is news I've largely kept to a small circle of close friends over the past few years and is difficult to talk about. The time has now come to enlist the support of a wider community, and perhaps together, we can make a difference.
In "7 Reasons Why The Jobs Recovery Is Real This Time," the Associated Press details what I would consider to be the positive spin on a variety of economic and political developments [ highlighted in red italic for clarity ]. In the interest of fairness and balance, I thought it only right to annotate each of their bullet points with statistics, reports, and arguments that show things in a different light: During and right after the Great Recession, companies shrank their work forces because demand plunged and fewer workers were needed. Once demand started growing again, companies were reluctant to hire immediately. They managed to produce more with the employees they had.
Financial Armageddon
“I don’t see anything wrong with asking people to pay the expected value of their health care — a mandate to get insurance to cover the catastrophic things that society would cover in any case — to avoid this type of gaming of the system. Yes, it’s true that many healthy people will pay, remain healthy, and seem to get nothing. But that’s the wrong way to look at it.
Baseline Scenario
After 4 years at Blogger, we feel it's high time for us to widen our scope, our perspective and our platform. And at Blogger, great as it is, we can't do what we think we should do.
Automatic Earth
The largest oil exporter in the Middle East has teamed up with the second largest consumer of oil in the world (China) to build a gigantic new oil refinery and the mainstream media in the United States has barely even noticed it. This mammoth new refinery is scheduled to be fully operational in the Red Sea port city of Yanbu by 2014. Over the past several years, China has sought to aggressively expand trade with Saudi Arabia, and China now actually imports more oil from Saudi Arabia than the United States does. In February, China imported 1.39 million barrels of oil per day from Saudi Arabia. That was 39 percent higher than last February. So why is this important?