Blockbuster could have had Netflix for south of $100 million. Twice. It’s worth thinking about in consideration of Netflix’s present-day market cap of $437 billion. Of much greater importance, it’s worth thinking about Netflix now versus the one when the 21st century began as Democrats and Republicans muster the heft of government to restrain […]
Lest We Forget, Blockbuster Twice Passed on Netflix Read More »
Why doesn’t West Virginia have more debt? The question rates asking in response to a Wall Street Journal editorial which observes that California “is facing huge budget deficits despite an ebullient stock market and capital-gains rush.” The answer to the West Virginia question can be found in the Journal editorial’s observation. Explaining the California deficit and debt situation,
California Is the Answer to the Federal Debt Riddle Read More »
George Will describes it as “presentism” whereby modern views on morality are imposed on past actions. Will’s crucial point is that if we continue down this path of judging the past through a present-tense lens, eventually those judging and canceling will find themselves being judged and canceled. It’s just a comment that whatever the
Why Was Lawrence Summers So In Demand to Begin With? Read More »
Economists don’t know economic growth. See New York Times columnist and economist Rebecca Patterson. In “Watch Out, It’s the Jenga Economy,” Patterson expresses worry that “Without income from jobs, consumers pull back on spending.” Except that no non-PhD would ever think about consumption. That’s because consumption is a certain effect of what truly matters: production. Yet
Watch Out, It’s More Economic Analysis From An Economist Read More »
A weak dollar wrecked Jimmy Carter’s presidency. This requires mention as the long ago Carter economic plan rises in the estimation of the right. Looking back, they appreciate that Carter didn’t stand athwart Rep. William Steiger’s insertion of a capital gains tax cut in his 1978 tax package. Carter also oversaw industrial deregulation, most
As Jimmy Carter Rises In Right’s Eye, Remember Why He Lost Read More »
“You deserve happiness.” How many times have readers heard the latter? It’s accepted wisdom, but also nonsensical. Happiness is hard. The founding fathers knew this. They decreed a right to pursue happiness, but not the state of happiness itself. That’s like decreeing prosperity. Impossible… Continue reading on Forbes.
Milei Can No More ‘Dollarize’ Than He Can Decree Happiness Read More »
“I trust that you will never lose sight of the fact that millions of Americans are dependent on the Fed continuing to support the economy’s recovery.” Those are the words of Democratic Rep. James Clyburn to Fed Chairman Jerome Powell in a 2021 hearing. The quote comes care of the Wall Street Journal’s Allysia Finley. Continue reading on
The Fed As Source Of Econ. Growth Is A Monstrous Delusion Read More »
The Marshall Plan was an abject economic failure. And that’s not just because Japan rebuilt itself after WWII without one. The more important truth is that central planning of precious resources that always and everywhere fails in good times hardly gains virtue during the bad. What saved Germany after the war was the influx
The Bigger Economic Meaning of a Smaller, Post-Katrina New Orleans Read More »
Berkshire Hathaway has $340 billion in cash and cash equivalents. Media speculation indicates that the sidelined funds signal Warren Buffett’s belief that corporations are presently overvalued. Without presuming to know the precise thinking of one of the world’s greatest investment minds, it’s better to focus on the smaller truths of Berkshire’s cash stash. Specifically,
Buffett’s Bearishness Tramples on the ‘Money Multiplier’ Myth Read More »
Harvard professor Jason Furman says E.J. Antoni “is completely unqualified to be BLS Commissioner.” Furman’s view is the consensus, though the latter is frequently wanting. Think how serious economists believe to this day that government spending boosts economic growth, that growth causes prices to rise, and that war is economically stimulative. Which is a
If E.J. Antoni Is As Bad As His Critics Say, We All Win Read More »
