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View From The Asylum

America is now so politically unstable that its constant lurching about has finally caught the attention of people who like to disregard politics and attend only to making money. It was their view of the political crisis that tipped S&P into downgrading US bonds. Yes the deficit is a problem that started them worrying, but […]

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Ethics, or Not, and Economics, or Not

Let’s start with some fun: How many economists does it take to screw in a light bulb? None. They simply wait for the free market to do it for them. Which is why economists are always in the dark. I am still waiting, by the way, for the surge in investment and consumption that inevitably […]

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A Call to Arms: My Rough Draft

Let’s make this blunt: The US government can borrow at 2.2% today. That’s the market price of ten year money. That is an insanely cheap cost of funds. It shows, if free market analysis means anything at all, that the market is not in the slightest bit concerned about the American deficit at the moment. […]

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