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Five Lessons from Ireland
The news is going from bad to worse for Ireland. The Irish Independent is reporting that the Swiss Central Bank no longer will accept Irish government bonds as collateral. The story also notes that one...
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What Caused the Financial Crisis: Private Greed and Criminality or Government...
Here are two superb articles on the financial crisis. First, from Peter Wallison at the American Enterprise Institute, we have a piece on the role of government housing subsidies. Since he warned, in...
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If Truth-in-Labeling Is Important, the Housing Crisis Should Be Stamped:...
Welcome Instapundit readers. Here’s a related link if you want to get even more depressed about politicians digging the debt hole deeper. =========================================================== If...
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The Futile Stupidity of Laws Against “Short Selling”
The governments of Spain, Italy, Belgium and (of course) France recently imposed 15-day bans on “short selling,” which means they are prohibiting people from making investments that would be profitable...
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Cheney: Wrong on TARP
Last year, after seeing former Treasury Secretary Hank Paulson trying to defend the TARP bailout he designed, I wrote that he should go away in shame. After all, even former Fed Chairman Paul Volcker...
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Hell No, American Taxpayers Should Not Bail out the IMF
This is getting surreal. We now have layers of bailouts around the world. Different nations are doing their own bailouts. On top of that, the Europeans have set up something called the European...
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Tim Geithner: The Forrest Gump of World Finance
One almost feels sorry for Treasury Secretary Tim Geithner. He’s a punchline in his own country because he oversees the IRS even though he conveniently forgot to declare $80,000 of income (and managed...
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The Simple Solution to the European Fiscal Crisis
The welfare states of Europe are in deep trouble. Decades of over-taxing and over-spending have sapped economic vitality and produced high levels of debt. The high debt levels, by themselves, might not...
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In One Chart, Everything You Ever Wanted to Know about the European Fiscal...
I would have structured this flowchart differently, for reasons I discuss in this post, but this is pretty good picture of why Europe is in trouble. They say all roads lead to Rome, and this flowchart...
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Should Washington Re-Inflate the Housing Bubble?
I have no idea whether George Santayana was a good philosopher, but he certainly was right when he wrote, “Those who do not learn from history are doomed to repeat it.” Consider the fools in the U.S....
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The Vatican Should Try to Save Souls, not Ruin Economies
A couple of months ago, after reading an excellent column in the semi-official newspaper of the Vatican, I joked that we should send Obama to Rome for an economics lesson. I now completely retract that...
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Helping to Explain Greece’s Collapse in a Single Picture
Politicians in Europe have spent decades creating a fiscal crisis by violating Mitchell’s Golden Rule and letting the government grow faster than the private sector. As a result, government is far too...
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Would You Rather Have Bailouts or Real Capitalism?
Earlier this month, I took part in an online debate for U.S. News & World Report about whether Europe or the United States was in deeper fiscal trouble. I wrote that Europe faced a bigger mess,...
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Despicable and Corrupt Republicans Vote for More Housing Subsidies
Remember my post from a week ago when I said I was not a Republican even though Ronald Reagan and Calvin Coolidge are two of my heroes? Well, now I have another reason to despise the GOP. Those...
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Europe’s Clueless Politicians Are So Incompetent that They Can’t Even Figure...
There’s always been a simple and desirable solution to Europe’s fiscal crisis, but nobody in Europe wants to do the right thing because it means admitting the failure of big government and it would...
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The Poisonous Combination of Wall Street and Washington
Kevin Williamson of National Review is always worth reading, whether he’s kicking Paul Krugman’s behind in a discussion about the Texas economy, explaining supply-side economics, or even when he’s...
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You Won’t Be Optimistic about Europe’s Future after Watching this Very Clever...
Whenever I narrate videos lasting longer than nine minutes, such as my three videos on tax havens or my video on international corporate taxation, I often get backhanded compliments along the lines of...
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From England, the “Modern” Glossary of Financial Terms
I’ve always admired the English sense of humor, and this post on terrorism alerts is a good example. In that spirit, here’s something that just arrived in my inbox, originally from this website. For...
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Romney’s Big Gaffe Is TARP, not Etch-a-Sketch
Governor Romney’s campaign is catching some flak because a top aide implied that many of the candidate’s positions have been insincere and that Romney will erase those views (like an Etch-a-Sketch) and...
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Dan Mitchell’s Field Trip to the United Nations
I’m at the United Nations in New York City for something called “The High Level Thematic Debate on the State of the World Economy.” Most speakers so far, including the Secretary General of the United...
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