"The forces of the market are just that: They are forces; they are like the wind and the tides; they are things that if you want to try to ignore them, you ignore them at your peril, and ... if you find a way of ordering your life that is compatible with these forces, indeed which harnesses these forces to the benefit of your society, that's the way to go." -- Arnold Harberger, University of Chicago Economist
Wednesday, January 28, 2009
Tuesday, January 27, 2009
The Stimulus Time Machine
"The stimulus bill currently steaming through Congress looks like a legislative freight train, but given last week's analysis by the Congressional Budget Office, it is more accurate to think of it as a time machine. That may be the only way to explain how spending on public works in 2011 and beyond will help the economy today.
According to Congressional Budget Office estimates, a mere $26 billion of the House stimulus bill's $355 billion in new spending would actually be spent in the current fiscal year, and just $110 billion would be spent by the end of 2010. This is highly embarrassing given that Congress's justification for passing this bill so urgently is to help the economy right now, if not sooner.....
According to Congressional Budget Office estimates, a mere $26 billion of the House stimulus bill's $355 billion in new spending would actually be spent in the current fiscal year, and just $110 billion would be spent by the end of 2010. This is highly embarrassing given that Congress's justification for passing this bill so urgently is to help the economy right now, if not sooner.....
Friday, January 23, 2009
Investors Want Clarity Before They Take Risks
"Obama could calm markets with some swift policy moves and reassuring words."
Thursday, January 22, 2009
Tuesday, January 13, 2009
Saturday, January 10, 2009
Wednesday, January 7, 2009
Boost Private Investment to Boost the Economy
"Excessive spending is what got us into this mess in the first place."
Tuesday, January 6, 2009
Thursday, January 1, 2009
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