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American capitalism triumphs over Chinese capitalism at the March 13 Slate/Intelligence Squared debate

Schiff defends Chinese capitalism because he is against central planning. Must be some other China he is defending.

One thing is certain the Trayvon Martin case.

One thing is certain the Trayvon Martin case. The first person to suggest that this case has nothing to do with race will be what passes for a conservative pundit. Then again if there were still old school conservatives around, they would be blasting Zimmerman for being a vigilante.

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Peter Schiff: In the 19th century we were quite undemocratic in the way government ran, and we benefited from that lack of democracy.

Someone should ask Mr. Schiff if women, blacks, the Irish et al; benefited from that lack of democracy as much as he imagines he would have.

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If you want to grow slightly alarmed about the American future, contemplate not just the scale of our trade deficit with China but the fact that our largest export to them by a wide margin is soybeans. America’s Customers Are Mostly Nearby

Lost Leonardo da Vinci Mural Behind False Wall?

My first thought was Oh, no…Dan Brown is going to write another novel now.

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(via ThinkGeek :: Japanese Kigurumi Cosplay Pajamas)

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Mayan calendar didn’t have a leap year. So it would already be Mayan year 2013.

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Low-income students with high test scores are less likely to finish college than high-income students with low test scores (via Equality of Opportunity? Never Mind – NYTimes.com)

Mankiw: Capital Gains vs. Ordinary Income, a little puzzle on policy.

If you have a job, the money you are paid for your work is ordinary income. If you buy an asset at one time and sell it later for a higher price, the profit you made from holding it is a capital gain. But is it really that easy? Consider five examples, and see if you can identify what is ordinary income and what is a capital gain.

Really great explanation. A must read.