Category Archives: Business & Economics

Why Milton Friedman Was Right

Milton Friedman’s most famous example of how free markets operate began with a pencil, but today’s iPhone is just a more sophisticated version of a product whose DNA is made possible by free markets.  Take a look at the graphic … Continue reading

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Why American Democracy Is In Trouble

Using the latest available year — 2007 — we know the following facts about people who filed Federal tax returns: Top 1% of Household Incomes Top 1% are those who reported incomes of $410,000 or more Top 1% paid 40% … Continue reading

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Petro-Dictatorships and the NY Yankees

What do Petro-Dictatorships and the New York Yankees have in common? Vast resources which facilitate autocratic rule and encourage financial incompetence. In the case of the Yankees, cable contracts for NY-based sports franchises are the equivalent of extensive oil reserves … Continue reading

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Keep Hope, But Spend the Weekly $8

Running a welfare state can be great fun, except for dealing with all those people you have to lord over. You just can’t trust what they’ll choose to do with their monies not confiscated by their government. A WSJ article … Continue reading

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Achieving a Fair and Fast Sudden Death

Tim Harford is another one of the interesting young economists which use their profession to make sense of things in the real world. Like a possible overtime game in the Super Bowl. OK here’s the problem; In NFL overtime games, … Continue reading

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Tattoos, Peter Lynch and Good Investment Advice

I was walking on the Key Biscayne bridge Saturday morning and noticed an attractive woman runner. As she passed me, I cringed as I briefly confused the tattoo on her back with an open wound. In fairness, it probably more … Continue reading

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Accounting For Failure of Nerve

I had an earlier post which described the criticism of the US mark to market accounting rules and the hopes that the controlling US regulatory bodies [SEC and FASB] would amend those rules. As described in the Washington Post article, … Continue reading

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Year-End Tax Tips

Some year-end reminders about your taxes from a WSJ article: Writing off your loser stocks Your options with worthless stocks Possible changes in minimum-distribution requirements Making a gift from your IRA Charging your charitable contributions – easily the most overlooked … Continue reading

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What if They Don’t Know How to Fix This?

The ‘they’ in the post title are economists. While there always many schools of thought, the amazing thing about this current financial crisis is that we are truly in uncharted territory. Two of the most influential economist bloggers are admitting … Continue reading

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IRS Eases Up on Homeowners

WSJ Tax article ————————————————————————————— IRS Eases Up on Homeowners By TOM HERMAN IRS officials say they are speeding up efforts to provide relief for homeowners in financial distress. The Internal Revenue Service has developed an “expedited process” to make it … Continue reading

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