GM, Banks, Bailouts and Incentives

With the GM IPO having succeeded so well this past week, the critics and nay-sayers have had to change tunes.  I don't know that I really see the government investment in GM's bankruptcy and restructuring as a "bailout".  I see more as the kind of strategic government intervention that helps the economy that a good … Continue reading GM, Banks, Bailouts and Incentives

The U.S. is NOT Bankrupt – It’s Impossible

I'll try to make this point again: the U.S. government can NOT go bankrupt.  It's impossible for it to default on U.S. government bonds.  Just like it's impossible for Japan, Australia, Canada, the U.K., or any of the other nations that: have a non-convertible, floating exchange-rate currency and that borrow funds in their own currency. … Continue reading The U.S. is NOT Bankrupt – It’s Impossible

5 Myths about Taxes

Bob Stoker (via TheMonkeyCage ) tries to shed light on the darkness by dispelling 5 myths about taxes. Myth #1: Federal taxes are higher than they have ever been. According to the Congressional Budget Office (CBO), the opposite is true. Budget analysts typically measure the federal tax burden as a proportion of GDP because this accounts for … Continue reading 5 Myths about Taxes

Social Security presentation: Will It Be There?

An update: I’m  giving gave an open lecture/presentation at the college today Oct 20 on the future viability of Social Security and the crisis rhetoric surrounding it. It’s available to view or download here: Powerpoint file Download (no sound). I had plans to make a video out of it, but time has gotten the best of … Continue reading Social Security presentation: Will It Be There?

Ignorance, Voting, Pun, and Politics

The midterm elections this week went pretty much as early polls expected: Big Republican wins in the House, some Republican gains in the Senate, and lots of attention to the Tea Partiers.  The Pundits and Political People (Krugman calls them "the Very Serious People"), the Washington, D.C. people who deem to tell us what we … Continue reading Ignorance, Voting, Pun, and Politics

Jobs & Unemployment, Oct 2010

The October 2010 jobs and unemployment report is out this morning.  Mark Thoma nails my thoughts pretty well: The BLS reports that unemployment was unchanged in October at 9.6%, and Nonfarm payroll employment increased by 151,000. I've seen some people calling this a strong report. It's certainly better than lower job growth numbers, so it could … Continue reading Jobs & Unemployment, Oct 2010