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Sunday, July 31, 2011

Saturday, July 23, 2011

Wonderful historical photos.

This is another really great power point presentation here.

Thursday, July 14, 2011

Barack Delano Hoover

It is somewhat odd that our president wants to emulate one of the biggest bone-headed moves of all time. Looking at the history of tax rates in this country Herbert Hoover presided over a big bone-headed move in the early 1930s designed to balance the budget. He raised the top marginal rate from 25% to 63%. The economy quickly went into a further tailspin and the downward phase of the Great Depression was soon sealed. Roosevelt could not stand it either so he went class warrior in his second term and raised the top marginal rate to 79%. Now our president wants to do the same thing. I am sure he would not mind the class warrior comparison to Roosevelt. He may object to the Hoover mirror image. But that is just what he is doing.

Monday, July 11, 2011

Debt ceiling options.

As James Hamilton explains, the position of not raising the debt limit is self-contradictory. The debt reflects what has been spent in the past and not paid for. Any time there is a deficit then it is axiomatic that the debt must go up. Playing chicken with the credit rating of the US government is dumb, dumb, dumb.

Saturday, July 9, 2011

Fun at the Canadian Grand Prix.

My wife and I went to the Canadian Grand Prix this year and sat in the hairpin. The cars come in to this section around 180 mph and 7th gear, hit the brakes with 90 meters to go until the corner, take the corner in first gear and 35 mph, and then take off like a bat out of hell...right before your eyes.

Sunday, July 3, 2011

Faith the Dog.

It is all I can do not to weep when I see this dog. You can see more on this incredible dog at