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Wednesday, April 27, 2011

7th Annual ECU Department of Economics Advancement Council/Alumni Golf Tournament

Here is a picture of the Alumni and current students who participated in the recent golf tournament. It was the biggest ever...18 foursomes and 95 people for dinner and a live auction. See anybody you know? One dude, Mike Powell (Class of '97), came all the way from Oregon.

Next year's tournament is April 19. I truly hope to see you there.

Monday, April 25, 2011

Capes to the rescue!

Florida has spent $73,000 turning the unemployed into caped crusaders. You can't make this stuff up. Read about it here

Friday, April 22, 2011

Downgrades come in twos.

More downgrades here. Thanks to the venerable Dr. Rothman for alerting me to this piece.

Wednesday, April 20, 2011

Genie economics. This is not so good.

Herb Stein once said "something that can't go on forever won't." And it won't. I hate to think it would take some kind of a crisis to get something done. But history and the tone of the president's speech the other day worries the hell out of me.

Friday, April 15, 2011

Obama's speech and Paul Ryan.

Here I am as a guest on a local radio program. The action starts at minute 11:30.

Friday, April 8, 2011

Just read a statistic that has floored me....Think there is any correlation?

Just 28% of working-age Portuguese have completed high school, and Portuguese workers are among the least productive in Western Europe.

The Government needs to get out of the mortgage business. Here's a road map on how to do it.

Peter Wallison, Alex Pollock and Ed Pinto try to provide a roadmap here to get the government out of the mortgage business. This is a great idea. Fannie and Freddie should be put "on budget" and should be scheduled to fade away over time. Underwriting standards need to be maintained and all government guarantees should end. Maybe we are getting somewhere?

Thursday, April 7, 2011

Paul Ryan in his own words...Mediscare? Reforming entitlements and going back on the gold standard are our only hopes for long-run sustainability.

Well one out of two ain't bad.

The FHA is the new Fannie and Freddie. Have we learned nothing?

Peter Wallison and Ed Pinto sound the alarm here. Will anyone listen? What have we learned if the government simply shifts the purchasing of bad mortgages from Fannie and Freddie to the Federal Housing Authority, which is what Dodd-Frank has done? Risky mortgages and shotty underwriting standards are bad bets no matter who holds them on their balance sheet. It is going to happen again and no one is trying to stop it.

Wednesday, April 6, 2011

Today is the 78th anniversary for the banning of private gold holdings during the Great Depression.

Executive order #6102 instructed all US citizens to turn in their gold coins and bullion by May 1, 1933. This was the end of the commodity/gold standard as it was known back then.

John Cochrane and QEII.