The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

‘Coked-Up Stimulus Monkeys’

No, it’s not the name of a punk rock band, it’s what Democrats are doing with your tax money: Harry Reid’s Plan to Save the Nevada Economy: Coked-up Stimulus Monkeys In the face of the worst recession since the Great Depression, where has the money from Harry Reid’s stimulus bill gone to help our ailing economy? Cocaine-addled […]

The Sadly Underrated ‘Broken Window Fallacy’

by Smitty (h/t Fausta) People object to the broken window fallacy in terms of economic opportunity cost. The baker in the example could have had a window and a suit. Maybe the White House CoS can explain: “You never want a serious crisis go to waste. What I mean by that is that it’s an […]

Her Wonderful Career

OK, so I was sitting in my home office this afternoon and, as usual, CNBC was on the office TV. When I sit at my desk typing, the TV is behind me and off to the right side. It’s usually tuned to CNBC during the day so that by swiveling my chair slightly, I can glance over and catch the […]

Sweet, Sweet Argument From Authority

by Smitty Via Memorandum, we have Steve Benen assuming the position for the Priesthood One of the uglier strains of modern conservative thought is pervasive anti-intellectualism. As Faiz Shakir noted today, House Minority Leader John Boehner (R-Ohio) offered a rather classic example of “Fox News Sunday.” Host Chris Wallace noted that “a number of top […]

EMERGENCY: SAVE STOGIE!

OK, folks, no kidding around this time, it’s time to help a friend in urgent need: Home foreclosures are continuing at a brisk pace, according to an article by McClatchy News. Many of the first foreclosures that began three years ago, when the housing bubble began to burst, were for subprime mortgages. Now, however, a […]

It’s FDIC Bank Failure Friday!

Today’s lucky loser: Regulators have shut down a small bank in Georgia, lifting to 104 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession. The Federal Deposit Insurance Corp. on Friday took over NorthWest Bank and Trust, based in Acworth, Ga., with […]

Surprise: ‘The Treasury Department Claims That Fannie Mae . . . Screwed Up’

How effective is the Obama administration’s program to help people with mortgage problems? The answer is, we have no freaking clue: The Obama administration has revised its latest monthly report on its signature foreclosure-prevention plan, deleting a heavily-criticized performance metric used to measure whether assisted homeowners are re-defaulting on their taxpayer-financed mortgages. The Treasury Department claims that […]

Irish Debt Woes

Not a Greece-style crisis, but not good news, either: Ireland’s efforts to pull out of a deep economic slump suffered a setback Monday when a major credit agency downgraded the country’s bond rating, citing a weak banking system and rising debt. Moody’s Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remains […]

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