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Unemployment Rate
Everyone is of course commenting about the recent unemployment figures–the highest in five years–and so I will naturally weigh in. Sean Hannity said that the liberal media was doing its best to distort things and usher in Democratic wins in November, but in reality (Hannity claimed) the average unemployment rate during George Bush’s presidency has […]
Read moreSarah Palin Averts World War III?
Hear me out. For some time now I have been worried about an Israeli and/or American airstrike on Iran. (The financial implications are obvious: Ramp up your exposure to gold at least until the election has passed.) In a recent column, “September Surprise,” Justin Raimondo explains that Israel has been in secret negotiations with Georgia […]
Read moreWhat Do Sarah Palin and Ron Paul Have in Common?
(a) They’re both Republicans. (b) They were both in Minnesota this week. (c) They both rely on others to organize their message. (d) They are both pit bulls. (e) They are both pit bulls with lipstick. (f) Answers (a) through (d). The critics of both have pounced because of (truthful) answer (c). The Washington Post […]
Read moreShould We Cheer or Fear the Drop in Oil?
I realize the people running CNBC need to generate new financial articles every day, even if there’s nothing to say–as the runner of this blog, believe me, I understand the predicament. Yet today’s “Cheer or Fear Drop in Oil?” strikes me as particularly absurd. I think they should just rename CNBC as “Sure that’s what […]
Read moreLet’s Really Privatize Social Security
In my previous post, I explained why I never got on board with President Bush’s plan to “privatize” Social Security. Because Bush wasn’t going to raise anyone’s taxes or cut any government spending, any revenues redirected from the SS trust fund into the stock market, would have to be borrowed right back by the government. […]
Read moreLiberals and Libertarians Agree: Don’t "Privatize" Social Security!
I have been arguing with “Lee Arnold” about climate models over at Marginal Revolution. Anyway, I clicked on his profile and stumbled across his YouTube library of “Ecolanguage” videos. Below I’ve embedded his neat little discussion of President Bush’s ill-fated plan to “privatize” Social Security. As a free market economist, I disagreed with much of […]
Read morePalin’s Gas Tax Moratorium In Effect
Governor Palin’s one-year moratorium on (state) motor fuel taxes is now in effect; see this official announcement. As many of you will recall, when John McCain proposed this for the summer (at the federal level), he was lambasted by his critics. The controversy was over how much of the elimination of the federal 18.4-cent-per-gallon tax […]
Read moreGood News on Oil and the US Dollar?
Driven in part by the lack of major damage due to Gustav, oil prices have fallen to a five-month low, with the near-term futures trading at $109.25. At the same time, the US dollar has risen to a 10.5-month high, with the euro slipping below $1.45. Oil prices, quoted in dollars, are closely connected with […]
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