Category Archives: Finance

What Caused the Financial Crisis?

(Dear Reader: This post is in response to requests that we have received from some of my younger readers to summarize my views on the causes of the financial crisis of 2008 and 2009.  I have already commented on many … Continue reading

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A Disaster Waiting to Happen – Letter to the Editor

A disaster waiting to happen. Regarding “Era of Low Interest Rates Hammers Millions of Pensions Around World” by  Timothy W. Martin, Georgi Kantchev and Kosaku Narioka (Nov. 13th): Considering that the pension system of Illinois has a funding ratio of … Continue reading

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Finger Exercises (Part Three)

This will be the last of these “catch up” postings featuring drive-by comments on multiple issues.  After this, I will return to my normal format. Car Crash My girlfriend is threatening to stop talking to me until after November 8th.  … Continue reading

Posted in Economics, Finance, Foreign Affairs, General Culture, Politics | 3 Comments

And Then…Depression Set In

This title, a quote from the Bill Murray character in Stripes after a particularly rough day, continues the upbeat tone of my last blog.  If you read the news, then depression is the only logical emotion. More PC Madness and … Continue reading

Posted in Economics, Finance, General Culture | 2 Comments

Obscure Public Enemies

I would like to introduce a new periodic feature of this blog, the OPE (Obscure Public Enemy) [1].  This will highlight a little known person whose quiet influence is matched by a dedication to harming the public interest.  In this way, … Continue reading

Posted in Economics, Finance, General Culture | 2 Comments

Bankruptcy Law: Another Government Failure

There is a lively blame game relating to the great financial crisis (GFC).  The Left likes to blame it on deregulation (especially the partial repeal of Glass-Steagall) and greed.  The more accurate view is that it was largely made in … Continue reading

Posted in Finance, Policy | 6 Comments

What Could Possibly Go Wrong?

The Wall Street Journal and BloombergView have just run articles on the shadow banking system in China.  This has put me in a nostalgic mood. About 35 years ago when I was living in Japan, I made a side trip to … Continue reading

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China Innovates: A New Way to Lie with Numbers

The Wall Street Journal has just run an article about the latest data manipulation coming out of China. China is experiencing strong currency outflows.   This is a combination of “hot money” from outside China, which came into the country to … Continue reading

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Turn Away Now [1]

I just watched the most recent Republican debate and, contrary to the fairly neutral coverage that it has received, I think that Trump got mauled.  It is a preview of what is going to happen if he gets into the … Continue reading

Posted in Finance, General Culture, Politics | 4 Comments

The Statist Mindset and Other Short Takes

I just read an article in BloombergView yesterday by Cass Sunstein, who is a law professor at Harvard.  It was a roundup of a number of books published last year on “behavioral economics” (which is an absurd descriptor, since all … Continue reading

Posted in Economics, Finance, Politics | 4 Comments