Tag: Bailouts

Money for Nothing: Inside the Federal Reserve »

I taught Money and Banking for 40 years at Ohio State and before that at Boston College, and never once used a movie in class. However, after viewing Jim Bruce’s new documentary, Money for Nothing: Inside the Federal Reserve last night at the Museum of American Finance, I would not hesitate to use this...
Read More »

Can Obama Bail Out the Health Insurers? »

Beacon readers are ahead of many other witnesses to the Obamacare train wreck, having had the benefit of my November 7 blog post explaining the “risk corridors” by which the taxpayer will subsidize health insurers who lose money in the Obamacare health-insurance exchanges. That blog post argued that health insurers are in a pickle,...
Read More »

Questions—and Answers—for Janet Yellen »

The Senate hearings to confirm Janet Yellen as Federal Reserve Board Chairwoman are likely to be held next week, according to news reports. Here are some Questions that I hope the Senators will ask her, along with what I regard as the Wrong Answers and the Right Answers. I expect that her actual answers...
Read More »

All I Really Need to Know I Learned from Reading Higgs »

Further to Bob Higgs’s earlier post, Thinking Is Research, Too!, down in Texas, the Chairman of the Dallas Fed has the odd practice of looking beyond government stats and actually (gasp!) asking real people how they think the economy is going. From a profile of the President and CEO of the Dallas Fed, Richard...
Read More »

Time for Taxpayer Protections on California Transportation Projects »

The new span of the San Francisco-Oakland Bay Bridge is $5 billion over its original budget and nine years past its initial completion date. Such massive cost overruns and delays have shocked the public but one key question never gets asked, or answered: Why should taxpayers be on the hook for overruns? They shouldn’t,...
Read More »

Hurray for Washington! »

The culmination of last night’s Oscars broadcast with a Live! feed from the White House with Mrs. Obama (hangin’ with her military BFs) marks the official recognition of the Presidency as theater: like the old Western sets, no substance required. From the very beginning, President Obama was elected based on his strong delivery of...
Read More »

The Best Tax Code Money Can Buy »

Among the celebrants at the inaugural balls will be top contributors to the President’s reelection campaign, but their real celebration will be April 15, when they continue to be the beneficiaries of a “tax loophole” Obama pledged to close in 2008—but that remains gaping wide open despite his rhetoric about now making “the rich”...
Read More »

Extraordinary Demand to Hold Cash—The Mystery Persists »

Since the fall of 2008, the Federal Reserve System has pumped an almost incomprehensibly large amount of reserves into the commercial banking system—about $1.4 trillion. In normal circumstances, this action would have given rise to hyperinflation. Of course, not only has no hyperinflation occurred, but scarcely any inflation at all has occurred, and policy...
Read More »

Claim that Unemployment Figures Were Cooked Not so “Ludicrous” After All? »

When the September unemployment figures were announced a month before the presidential election as having miraculously declined to below 8% for the first time since the current administration started, more than a few speculated that there may have been some book-cooking in the back room. In response, Labor Secretary Hilda Solis, said she was...
Read More »

Beyond Regime Uncertainty: Corporate CFOs Predict Worsening Future »

Following on my recent post citing corporate CEOs’ complaint that continuing “Regime Uncertainty” forestalls their companies’ investing and hiring, corporate CFOs are today following suit, as reported by DeLoitte’s “CFO Signals“: CFOs’ expectations for sales and earnings growth both dropped precipitously this quarter, and their expectations for capital investment and hiring followed suit. The...
Read More »