Lost in Washington's current fascination with "the deficit" is how we got into this mess in the first place: via President Obama Largely Inherited Today’s Huge Deficits — Center on Budget and Policy Priorities. Some critics charge that the new policies pursued by President Obama and the 111th Congress generated the huge federal budget deficits … Continue reading President Obama Largely Inherited Today’s Huge Deficits
Nate Anderson of Ars Technica relates a timely example of just how absurd and outrageous the concept of copyright has gotten. An offhand comment the other day by a friend caught my attention—"Did you know that you can't watch the Super Bowl on a TV screen larger than 55 inches? Yeah, it's right there in … Continue reading Will your big-screen Super Bowl party violate copyright law?
The first estimate ('flash' estimate) of 4th quarter 2009 Real GDP growth came out Friday. The headline number, a 5.7% annual growth rate certainly looks good and has gotten a fair amount of attention. Unfortunately, the number is highly deceptive. First, this is only the flash estimate. It will be revised next month and the … Continue reading 5.7% Q4 2009 Real GDP Growth: Not What It Seems, Don’t Get Excited
Former Chair of Federal Reserve, Paul Volcker notes both the need for banking industry regulatory reform and that one of the needs to address the "moral hazard" that currently exists in the system. "Moral hazard occurs when a party insulated from risk may behave differently than it would behave if it were fully exposed to … Continue reading Moral Hazard and How to Reform Our Financial System – NYTimes.com
If we are to avoid another crisis and melt-down of the banking/financial sector such as we had in 2008, then we must change the rules of the game. There must be institutional change. Canada avoided much of the financial crisis. Why? Well, part of it is regulation (something Canadians are more comfortable with than Americans) … Continue reading More On Banking Regulation: How To Do It Right
We are learning from our mistakes. The financial/banking crisis of late 2008 (which turned a recession into The Great Recession) could will repeat unless we enact stricter banking & financial industry regulations. The government's response to the financial meltdown has made it more likely the United States will face a deeper crisis in the future, … Continue reading Watchdog: Bailouts created more risk in system | detnews.com | The Detroit News