StickWithANose

This post by Andy Xie is a long but fascinating read dealing with future prospects for China’s economy. I claim no expertise in global economic theory, but this is just too good to not pass on…
First Xie supplies some context:
In previous financial crises, big shots who contributed to bubbles went to jail; Americans expect [...]

A meditation on living in the Age of Bubbles… Gin & Tacos
Every patriot worth his salt is burying some gold in the yard ahead of the inevitable collapse of the worthless fiat dollar. That Glenn Beck is paid by retail gold outlet Goldline International to hawk gold on the air is no cause for suspicion. [...]

If former Reagan revolutionary David Stockman is on board for taxing the sh*t out of Wall Street then I am quite sure that hell has [at least temporarily] frozen over…
Make no mistake. The banking system has become an agent of destruction for the gross domestic product and of impoverishment for the middle class. To be [...]

Here’s one to file away for the next time you encounter a talk radio listener making noise about federal deficits and “entitlement” cuts: Angry Bear
[L]et us suppose that Krasting were right (he is not) and that we have depleted the [Social Security] Trust Fund. Would this be a catastrophe? Would Social Security be “broke.” Would [...]

From Angry Bear
Starting with the $200-500K category, the share of earnings from labor begins a marked decline. By the time you hit mid-six figures, average earnings from income, dividends, and capital gains become high enough to provide middle-class or better incomes without (necessarily) working. Tax returns in the upper-six-figure bucket, on average, show more income [...]

After having a spectacular run that transformed policies from Tierra del Fuego to London, could it be that the Chicago School has entered a period of terminal decline? Let us hope….
Why is the Chicago School of Economics such an intellectually bankrupt line of thinking? It represents two major cognitive errors: First, it attempts to be [...]

With public anger over Wall Street at a high and Obama’s approval rating on the economy at a low, it is becoming increasingly clear how the Obama administration is going to try and win some votes for the Democrats in the coming year. The X-mas eve announcement that the feds are lifting the debt ceiling [...]

As his decline in poll numbers becomes increasingly evident, Team Obama appears to be doing some soul searching over its overall economic message, and I do mean message. As this Bloomberg article inadvertently indicates, Team Obama doesn’t see its falling numbers on the economy as a failure of policy but as a failure in messaging [...]

To counter the possible mis-perception that the pessimistic outlook of my recent posts is a reflection of my consumption of a narrow band of information that only re-affirms my own pre-conceived notions [something of which I am critical] I offer this intriguing Bloomberg piece on speculation that 2010 could see significant economic growth. Time will [...]

Thorstein Veblen offers us a reasoned argument for taxing the shit out of the small number of individuals making more than $1 million a year.
Greg Mankiw links a former student courageously trying to protect the rights of Millionares not to pay more taxes here.
Here’s the thing — there are no reputable studies on the [...]