Stable Genius Liberal

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Japan, which is spending heavily for post-tsunami reconstruction, is growing quite fast, while Italy, which is imposing austerity measures, is shrinking almost equally fast. There seems to be some kind of lesson here about macroeconomics, but I can’t quite put my finger on it If austerity worked, the bars for the UK and Italy would… Continue reading Untitled

The Economics of For-Profit Prisons

If the inmate count dips, sheriffs bleed money. Their constituents lose jobs. The prison lobby ensures this does not happen by thwarting nearly every reform that could result in fewer people behind bars.

The idea that privatization increases the freedom in society is naive. It might, in some cases. Not there and not now.

Paul Ryan Claims His Budget ‘Preempts Austerity’

House Budget Commitee chairman Paul Ryan (R-WI) says that his plan to slash government spending on programs for the poor while increasing defense spending and giving tax cuts to the wealthy would actually “prevent austerity.”

We must pass austerity to prevent austerity? Not from the onion. Ryan is a smooth talking confidence man. Nothing more.

Happy Rapture Anniversary

Does everyone remember last year with the rapture happened? Wow that was crazy.

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(via Why a Strong Middle-Class Is Necessary For Growth | Next New Deal)

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http://www.youtube.com/watch?v=C0kk57g543Y Bernie Sanders “The Truth Is Wall Street Regulates Congress” (by MOXNEWSd0tC0M) (Source: http://www.youtube.com/)

Scott Walker to campaign on made-up jobs data.

Wisconsin lost 23,900 jobs between March 2011 and 2012, according to the bureau, which will release fresh estimates tomorrow. Walker, who promised to create 250,000 jobs by the end of his first term in 2014, says the state is performing better than that. He said while campaigning this week that he would release his own figures as early as today, the Associated Press reported.

The numbers show my policy isn’t working so I will change the numbers we use so I can still promote my policy as a success. Wow.

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Romney and today’s GOP often cite the balanced budgets and surpluses that marked the late years of the 1990s, generally crediting them to what was then a Republican-controlled Congress. They’ll also give Clinton a measure of credit, if only as a backdoor means of slamming Obama, by citing welfare reform or some other compromise he… Continue reading Untitled

The 326th consecutive month with above average global temperatures.

36th consecutive April with warmer than average temperatures. It was the 326th consecutive month with above average global temperatures.

At this point everyone not convinced is not basing opinions on facts.

Bruce Bartlett: What Rule Should the Federal Reserve Follow?

Representative Paul is here reciting the “Austrian” theory of the Great Depression. It says that even though there was no inflation during the 1920s, somehow or other inflation nevertheless caused the Great Depression. According to the Bureau of Labor Statistics, prices were either flat or falling throughout the 1920s – i.e., deflation.
But the Austrian school believes there was actually some sort of double-secret inflation because the money supply increased. They believe the same thing is happening right now.

Bruce Bartlett explaining Austrian views and how they get basic facts wrong.