Tag: economic stimulus
Crony Capitalism
News item: Goldman Sachs surprised even optimistic analysts with a $3.44 billion profit for the three months to June, almost 90% more than the previous quarter. Profits were also up at JP Morgan Chase, which announced second-quarter profits of $2.7 billion on July 26th, which were 36% higher than a year ago. (“The World...
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Give Bernanke Credit—For Chutzpah
In my mind’s eye, I envision a street fair—one of those happy community gatherings at which sellers of handcrafted ceramics, funky clothing, herbal remedies, fresh vegetables, and edible delicacies congregate to display their wares for the strolling customers, who chat amiably with the stall-keepers and with one another. Suddenly, amid horrified shrieks and the...
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Robert Higgs on War, Taxes and Economic Crises
With Barack Obama’s delusional belief in massive expansions in government spending and power as a means to overcome the economic recession and create human welfare, Senior Fellow Robert Higgs‘s discussion on war, taxes and economic crises could not be more timely and instructive. Dr. Higgs is the author of the award-winning Institute book Depression,...
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The Government’s Cure for Alcoholism—Whiskey, More and More Whiskey
For nearly a decade, Americans acted as though taking on more debt posed no problem. After all, they owned real estate, and all the experts told them that real-estate prices always go up. The mightiest magnates of finance acted as if they believed this stupid story—I say stupid because the merest child might easily...
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Not to Worry
It’s pointless if you make a fuss About Obama’s stimulus. The government’s determined, see, To rescue the economy. Paul Krugman’s here to point the way Toward a bright and shining day, When everyone will be employed And all consumers overjoyed. The Fed’s enormous loans will serve To calm the frightened banker’s nerves, And Congress...
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Oh, Joyful, Joyful Coronation Day
I was awakened this morning by bright sunlight that penetrated the shade on my bedroom window. A bright, sunny winter day is not an unusual occurrence in southeast Louisiana, where I live, but today’s brightness and sunniness were the brightest and sunniest I have ever seen. Something has changed. I went out to tend the...
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This Guy Could Do Standup!
I rarely read Paul Krugman’s column, but today I did, because an old friend sent the latest one to me. I gotta tell ya, Krugman could do standup! Really, he’s a riot. Most economists can pass for undertakers, but not this fellow. He’s truly funny. I know I should be kind to him, on...
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