Archive for the 'Economics' Category

‘That’ll be about a hundred dollars. Yeah. About a hundred dollars’

Sunday, May 17th, 2009

The Charleston Antique Mall is one of those seven-day-a-week outfits that rents out space to 45 or so independent antique vendors. Think Victorian furniture, Depression glass, Coca-Cola collectibles, old Elvis records. Proprietor Cal Tully says the mall is doing fine, despite the current economic squeeze — maybe because of it. (Full disclosure: The brunette sells […]

Light at the end of the tunnel: They only need another $20 trillion

Sunday, May 3rd, 2009

I always enjoy perusing the concise summaries of the increasingly ludicrous nonsense being peddled by our government lackeys when I open the monthly newsletters of the Tucson-based Doctors for Disaster Preparedness. From the March newsletter:

Making Shit Up Out Of Thin Air

Monday, April 20th, 2009

On Thursday, The Associated Press reported “Nevada faces the largest budget deficit in the country for the upcoming fiscal year, according to a recent survey of states by the Center for Budget and Policy Priorities, a liberal Washington, D.C., think tank. “Nevada will have a 30 percent gap between spending and revenue, edging out Arizona, […]

‘It’s just automatic; there’s nothing we can do about it’

Sunday, April 12th, 2009

I’m very lucky. Despite what our energetic young bankers-turned-derivative-peddlers have done — are still doing, that’s the amazing part — to our economy, I still have a job. I was going to say I’m doubly lucky because it’s a cushy job that allows me to sit inside all summer in an air-conditioned office, but that […]

Then, on the sixth day, He took over the auto industry …

Thursday, April 2nd, 2009

The typical American automobile in the early 1920s was easy to describe. It was boxy and black, offered a manual transmission only, and sported a straight-up four-cylinder engine. Creature comforts were few. On the bright side, if your car tipped over on a sharp turn — as the top-heavy contraptions were wont to do — […]

And they call it ‘change’

Sunday, March 1st, 2009

Fortuitously, I recently stumbled on a copy of Henry Hazlitt’s “The Failure of the ‘New Economics’”, 1959, reprinted 1973. The ‘New Economics’ referred to by the esteemed Mr. Hazlitt — who replaced H.L. Mencken as editor of The American Mercury in 1933 and joined the New York Times in 1934, writing financial and economic editorials […]

Ever tried to ‘actively manage’ a 401(k) account?

Sunday, February 8th, 2009

On Jan. 10, Los Angeles Times columnist Tim Rutten penned a column on the recent tumble of the nation’s 401(k) tax-deferred retirement accounts. “There’s been little discussion of the way in which this economic implosion has exposed the utter failure of the now-ubiquitous 401(k) retirement accounts,” Mr. Rutten offered. “In fact, the entire 401(k) system […]

Let’s make a deal!

Thursday, January 29th, 2009

Famously, the new president, Barack Obama, argued in his inaugural address last week “The question we ask today is not whether our government is too big or too small, but whether it works. … Where the answer is yes, we intend to move forward. Where the answer is no, programs will end.” Given that not […]

The old shakedown racket

Monday, January 26th, 2009

The politically potent Culinary union Local 226 says its already gathered enough signatures to require a popular vote on the City Council’s current scheme to move Las Vegas City Hall to an abandoned casino site six blocks to the southwest of its current location — which would place it between the Clark County Temple to […]

Who the heck approved this thing?

Saturday, December 20th, 2008

At hearings in Las Vegas Tuesday, Nevadans who have lost their jobs or their homes — or both — told a federal panel that $700 billion transferred to their Wall Street pals by Treasury Secretary Henry Paulson and (Federal Reserve) Inflation Secretary Ben Bernanke have done nothing to improve financial conditions outside New York. The […]