Category Archives: News/ Lessons

From today’s Air Force Magazine online: Congress Restores COLA Increases The Senate voted 95-3 on Wednesday to restore full cost-of-living pension increases for working-age military retirees. The vote comes one day after the House approved the measure with a vote … Continue reading →

Re: Economy and Crime Spur New Puerto Rico Exodus Dear Sirs: Reporter Lizette Alvarez makes the common mistake of equating a balanced government budget with success. She lauds new Puerto Rican president Garcia Padilla for reducing the deficit by seventy … Continue reading →

Re: EU said to weigh extending Greek loans to 50 years The Greeks will always get more money from the EU, because that is the very nature of the EU as a giant welfare system for entire nations.  But the experiment will … Continue reading →

Re: Trial of three former officials at Anglo Irish Bank begins Dear Sirs: Anglo Irish Bank did not bailout itself.  Why aren’t the politicians who gave the money to Anglo, which led to the collapse of the Irish economy, on trial, … Continue reading →

The purpose of this brief essay is to present an argument that state spending on welfare, which necessarily rests on the state’s power to extract funds from the public, cannot be justified.  An argument in favor of state sponsored welfare … Continue reading →

Re: Wall Street’s New Housing Bonanza, by Michael Corkery Dear Sirs: If Representative Mark Takano (D, CA) is concerned that securitizing investment in rental properties will result in a new, unsustainable bubble, he is looking for answers in all the wrong … Continue reading →

Re: Confronting an Old Problem May Require a New Deal, by Eduardo Porter Dear Sirs: Mr. Porter recently trotted out every discredited economic idea of the New Deal, from Keynes’ fallacious idea of permanent, structural unemployment to the fallacious idea … Continue reading →

Re: Don’t expect job data to persuade Fed on rates Dear Sirs: Floyd Norris reports that Janet Yellen loves to study all those employment statistics in order to set Fed policy.  And that is the problem.  The Fed’s new leader believes that … Continue reading →

Re: The Hard-Working Rich, by Kevin D. Williamson Dear Sirs: Mr. Williamson’s presents some truly amazing facts about what separates the rich from the poor…and it’s not just that the rich have more money, per Ernest Hemingway’s famous quip to … Continue reading →

Re:  EU official assures the IMF that it will continue to support Greece There was never any question that Greece would not get all the money that it wants from the EU and then even more from the IMF.  After … Continue reading →