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Tuesday, December 13, 2011

Greek statistician faces life in prison for NOT cooking the books.

http://www.cnbc.com/id/45458728

Dr. Rothman tells me that the data from the UK are the only reliable data in Europe. What then should we think of Chinese data? Here the dude comes from the IMF and cleans up Greek data and now faces life in prison.

They should have let Greece default.

Friday, December 9, 2011

How about if "The Muffs" explain it to the OWS miscreants?




The key words are:

And you know...
you have a 1000 things in front of you...
But doing anything you like
and taking it easy is all you ever need to do...
You have no ambition and all you do is sit around
and I don't know why?
And you know it's true and you never want for anything...
You're a lucky guy, oh ho ho ho you're a lucky guy.

Tuesday, December 6, 2011

Memo to the OWS creatures.



http://frontporchviews.wordpress.com/2011/10/31/memo-to-ows-crowd-mary-beth-hicks-wash-times/

BTW if I was a cop and saw someone crapping on my car like the dude above, he'd sure have a case of the red ass because I'd pepper spray his butt.

Monday, November 21, 2011

Thursday, November 17, 2011

Friedman wins this one.


Here is the transcript of a debate between Milton Friedman and Rober Mundell from May 2001. Read section III where Mundell lauds and Friedman says "not-so-fast" re: the Euro and its future viability and longevity. Friedman wins this one.

Hats off to the great Dr. Rothman who is so very helpful to this blog.




http://www.irpp.org/po/archive/may01/friedman.pdf

Sunday, November 13, 2011

Breeders' Cup 2011 @ Churchill Downs.



The shiny, happy winners from the left, bottom row: my nephew Rick and his wife Meagan, Victoria Vaughn with husband Francis Vaughn ECU Wall of Fame member and Class of 1991, my sister-in-law Ginger and my brother Richard. Back Row: my wife Monica and me.

Kings and Queens for a day! Let's do the Riddler Dance one more time.....

video

Thursday, November 10, 2011

Happy Birthday U.S. Marine Corps


Happy Birthday to all my dear Devil Dog friends both here and overseas, active and honorably discharged. Have a great Marine day and Semper Fi.

Watch this tough Leather Neck...



video

GENERAL WILSON'S BIRTHDAY TOAST
On the occasion marking the birthday of the US Marine Corps, 1978, onboard
Camp LeJeune, and in the presence of several thousand Marines and their
ladies, General Louis H. Wilson, CMC, arose to deliver his long awaited
address to the troops. He approached the rostrum, nodded to the CG's
(Base, FSSG and Division) and proceeded to explain to the captive masses
that he would be short on words that night - then turned to his bride, took a
glass and, amid absolutely DEAD SILENCE, offered this toast - and
promptly SAT DOWN.


LOVE
THE WONDERFUL LOVE OF A BEAUTIFUL MAID,
THE LOVE OF A STAUNCH TRUE MAN,
THE LOVE OF A BABY, UNAFRAID,
HAVE EXISTED SINCE TIME BEGAN.
BUT THE GREATEST OF LOVES,
THE QUINTESSENCE OF LOVES,
EVEN GREATER THAN THAT OF A MOTHER,
IS THE TENDER, PASSIONATE, INFINITE LOVE,
OF ONE DRUNKEN MARINE FOR ANOTHER.


THE WHOOPIN AND HOLLERIN WENT ON FOR A GOOD TEN MINUTES
HAPPY BIRTHDAY AND SEMPER FIDELIS

Saturday, November 5, 2011

Winner Winner Chicken Dinner!!!

HOOOOORAY!!!!!! Hit the early pick 4, the $3 pick 3 and a $6 daily double into race 7 yesterday. Walked away a total winner! For all you horse players out there, I had to have my picture taken by the Feds before they would cash the ticket. You know what that means. BTW, I probably processed at least 30,000 and maybe as much as 50,000 independent points of data on the racing form for the Friday and Saturday racing cards. It's a tough business, but God help me I love it so. I even did the Riddler Dance after the seventh race. See the video below. I learned it from Marshall Gramm.





OK all you degenerate horse players out there, time once again for Professor Trackman's rules of horse race gambling. I have purchased these with blood and treasure. I give them to you free: 1. Do your handicapping for yourself. 2. If you can’t take the losses don’t bet. 3. Greed Kills. 4. Winners correct their mistakes next time out. Losers bet bigger trying to cover…which will never cover in the end. 5. Never get too high or too low. 6. Scared money don’t win. 7. Women and booze don’t mix with horses. 8. Don’t bet a beaten favorite coming back trying to do something he has never done before, anything. 9. Exotic bets should supplement straight bets and never supplant them. 10. Eat your betting money...but don't bet your eating money. 11. Every time that gate opens, expect to be humbled. Whatever you do this weekend, Good Luck!
video

Tuesday, November 1, 2011

Christina Romer tells Bernanke this is his "Volcker moment".


http://www.nytimes.com/2011/10/30/business/economy/ben-bernanke-needs-a-volcker-moment.html?_r=1

Romer writes that money stock targeting died "because of instability in the relationship between money growth and the Fed’s ultimate objectives." Maybe I missed it but nominal income targeting has the same set of hurdles.


Steve Williamson does not think it is such a hot idea.
http://newmonetarism.blogspot.com/2011/10/christina-romer-on-ngdp-targeting.html

Monday, October 31, 2011

This is all you need to know.



Please view this night-time satellite photo of the Korean peninsula. We don't get results like this in economics too often. This photo is the purest natural economic experiment we could possibly hope for in a side-by-side test of the efficacy of markets versus command and control economics. And yet, the poor, misguided souls across the world and in the "Occupy This-or-That" movement continue to pathetically pout and grind their teeth for Marxism. Please, emigrate to Ghana and try your theories out there. And take the gold standard people with you. I am sure you will have much to talk about. Please keep your mental delusions to yourselves and your infected fingers off the future of my country.

Sunday, October 30, 2011

A distributional analysis of Herman Cain's 9-9-9 plan.

http://taxpolicycenter.org/numbers/displayatab.cfm?Docid=3222&DocTypeID=2

Click on the above and you will see the impact of the 9-9-9 plan spread across income quintiles (that is every 20%). Notice that the lower 2 quintiles have their tax burden increase the most since...they pay few taxes anyway. In the end the average tax rate comes out to be pretty much proportional (that is the last column on the Table). The peeps in the top of the income distribution get their taxes shaved the most. Remember however this is a static analysis. Fundamental tax reform is one of our tickets out of the mess we are in. Something along these lines would be great although I doubt it would work with 9-9-9. What about 20-10-10 and exempt the lower 40%?

If president Obama were to suggest and adopt anything even remotely close to this or even were to push lightly for fundamental tax reform, he would take this issue from Republicans and win outright. But he can't do it. It is against his DNA and the mental shackle that captivates all Democrats believing that taxes going up on the rich is the only fair thing to do. It is a mental shackle that has them continually kick the economy when it is down and keep us where we are. But at least it serves to promote fairness right?

Monday, October 24, 2011

Saturday, October 22, 2011

The Parker Clan expands by one...




The puppy on the right is my new dog Sophie. She will be coming my way around December 1st. She is an English Springer and I am thrilled to see my newest hunting buddy.

Friday, October 21, 2011

Follow this Blog on Twitter...


...by following Misiu19 on Twitter. Go to http://twitter.com/#!/Misiu19 and hit the follow button! Then hit the cell phone icon right next to it. Viola! I'll be there! Thereafter all the posts will be instantly sent to your cell phone the moment they are published.

Many thanks to my young colleague Andrew Grodner for pushing me forward to be tech savvy.

I signed up.

WHICH WILL DO MORE FOR JOBS: MORE “STIMULUS” SPENDING, OR REMOVING GOVERNMENT BARRIERS TO GROWTH?

As an alternative to the continued “stimulus” spending and short-term fixes prescribed by President Obama, Speaker John Boehner and other Republicans in the U.S. House of Representatives have put forth a jobs plan focused on removing government barriers such as excessive regulation and taxation on small businesses that are impeding private-sector job creation in the United States. The White House contends there are no independent economists who believe this plan will have a positive effect on job creation in the short-term, and argues that it may actually “result in fewer jobs,” according to CBS News.

As an independent economist, which do YOU believe is more likely to provide a boost for private-sector job growth in America in both the near- and long-term: a plan focused on billions of dollars in additional “stimulus” spending by government – or a plan focused on halting excessive government regulations and fixing the tax code to help private-sector job creators?

If you believe the latter is more likely, we’d like to add your name to a list that will be released publicly by Speaker Boehner next week. Please respond to this email and let me know if we can add your name to the list. And feel free to share this message with other independent economists who may be interested in adding their names.

Justin Lampert
Office of the Speaker
Rep. John Boehner (R-OH)
U.S. House of Representatives

To be published in the US in November! Step right up! Yours for $1050.