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Category Archives: Business & Economics
Fannie, Freddie and the Credibility GAAP
Accounting humor: What’s the definition of an accountant? Someone who solves a problem you didn’t know you had in a way you don’t understand. What’s an auditor? Someone who arrives after the battle and bayonets the wounded. What are Generally … Continue reading
How AMT confuses taxpayers
WSJ Tax article —————————————————————— How AMT Confuses Taxpayers AUGUST 13, 2008 By TOM HERMAN If you’re confused by the alternative minimum tax, you have lots of company. A new Treasury Department report says about 226,000 federal income-tax returns filed in … Continue reading
Posted in Business & Economics
Tagged Accounting, Federal taxes, Tom Herman, Wall Street Journal
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What should government do?
Forcing fast-food restaurants to disclose calories seems like a safe ‘no’ by my way of thinking, but it’s not the clear cut answer I thought before I read the following from the Becker-Posner blog – this is Posner: A law … Continue reading
Tracking Bad Loans Goes Way Off Balance Sheet
The WSJ article [subscription needed] describes how banks are ‘fixing’ their bad loan problems, partly by making it harder to be a bad loan. The cynic in me hopes one day to see a ‘badder loan’ section on a financial … Continue reading
A Lesson in Thinking
Please read Richard Posner’s analysis of a proposal to pay kids to go school. Aside from the insights, admire the way he builds the argument: Background into Friedman’s proposals re welfare in the 1960’s How Friedman’s cash grants morphed in … Continue reading
Morality and Globalization
Perception: Globalization may have been oversold. We are beginning to see unanticipated problems which should give us pause. Economic Reality: The idea behind Globalization – defined as the increased integration of the world’s economy – is that resources should be … Continue reading
Sowell on oil supply and demand
Perception: Increasing oil prices may be a complicated issue, but we know that certain parties – i.e. oil companies and President Bush – are exploiting the situation. Economic Reality: Oil prices are not immune to increased demand price pressures. The … Continue reading
The audacity of self-reliance
The quote below is a good example of why Thomas Sowell is David Mamet’s favorite philosopher. “People on the far left like to flatter themselves that they are for the poor and the downtrodden. But what is most likely to … Continue reading
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