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Thursday, September 29, 2011

Martin Feldstein puts it all in a nice nut shell for us to understand. Here is what Europe is facing.

Thanks to Dr. Rothman for passing this along.

The Republican party will be irrelevant in 25 years if they don't rethink their immigration policies.

Hispanics are the new voting bloc that will determine elections and the Republican party does nothing but alienate them, so to speak. Rick Perry is much closer to getting it right than all the others by a large margin. And he gets slammed for it. Go ahead. Commit political suicide right in front of everyone. The Democrats will sit back and watch and step over you after you have crumpled into a heap of irrelevancy.

Monday, September 26, 2011

10-year Greek note returns.

A student recently asked me why anyone would want to invest in Greek government securities. I told him I felt that way too but look at the returns.

Wednesday, September 21, 2011

Will the real Barney Frank please wiggle your ears?

What's wrong with dissent? Barney Frank blew up the housing market and now he wants us to go on an endless trip up the Phillips curve I guess. Wanting to give the president four more appointees to the FOMC reminds me of Roosevelt trying to pack the supreme court. Some one please stop this jack ass from further damaging our country.

It's the president said!

Check this out in less than 60 seconds.
• United States Tax revenue: $2,170,000,000,000
• Fed budget: $3,820,000,000,000
• New debt: $ 1,650,000,000,000
• National debt: $14,271,000,000,000
• Recent budget cut: $ 38,500,000,000

Now, remove 8 zeros and pretend it's a household budget.

• Annual family income: $21,700
• Money the family spent: $38,200
• New debt on the credit card: $16,500
• Outstanding balance on credit card: $142,710
• Total budget cuts: $385

Sorta brings the issue "home" doesn't it?

Monday, September 19, 2011

Yo! This is "The Situation". Europe is dying demographically and is dead economically.

The other day my capable collaborator and mentor Jim Fackler indicated to me he thought another Depression may indeed be in the realm of discussion. That is, the idea of such happening should be "on the table." I almost choked on my Red Bull. He seems to think that the banking situation in Europe is bad enough it could cause another worldwide economic smack down. I don't know for sure. But I have a very real feeling the Euro is not going to make it. And when we think that Ireland guaranteed every last red euro of Irish bank debt and put it on the backs of the Irish taxpayer for the next 5 generations...could he be too far from wrong? Unless Europe is willing to become a fiscal union as well as a monetary union, the euro hasn't got a chance. And the Italians do not seem serious to me at all and Spain hangs by a thread.

Wednesday, September 14, 2011

This happened while I was out, but it is happening in Philadelphia and downtown Greenville...tonight.

I find this compelling and frightening. And it is not just in the UK. It is here and now and on the streets of Greenville, and Chicag, and Philly. Read the following article. We need to speak of unemployment by all means. But let us not forget suitability for employment as well. The mayor of Philly is right.

Tuesday, September 13, 2011

Friday, September 9, 2011

More "Girl Power!"

The people who think girls need special treatment to succeed in academia are the same folks who bred and nurtured the London street thugs that have made Great Britain not so great any more. Thanks to the Great Dr. Rothman for passing this along.

Thursday, September 8, 2011

Eight questions from Michael Boskin from today's Wall Street Journal

"The president still has time to rebound from his economic policy missteps by promoting permanent, predictable policies to strengthen forecasted anemic growth. 1. But do Mr. Obama and his advisers realize their analysis of the economic crisis was flawed and their attempted solutions mostly misconceived?
2. That vast spending, temporary tax rebates and social engineering did little of lasting value at immense cost?
3. That the prospect of ever more regulation and taxation created widespread uncertainty and severely damaged incentives and confidence?
4. That the repeated attempts to prevent markets (e.g., the housing market) from naturally bottoming and rebounding have created confusion and inhibited recovery?
5. Can Mr. Obama change course, given the evidence that the economy responded poorly to top-down direction from Washington rather than the bottom-up individual initiative that is the key to strong growth?
6. Is he willing to rein in the entitlement state erected under radically different economic and demographic conditions?
7. And will he reform the corporate and personal income taxes with much lower rates on a broader base?
8. Or is he going to propose the same failed policies—more spending, social engineering, temporary tax cuts and permanent tax hikes?

On the answer to these questions, much of Mr. Obama's, and the nation's, future rests."

I have the BTW, he estimates that every "job saved" by the stimulus package, or whatever you want to call it, had a price tag of $280,000.

This is totally uncalled for....

This happened while I was out sick. All I have to say is for Christ's sake will you stop that crap! It really is not very presidential, especially when you don't know the difference between the monetary base and the money supply. I don't think QE3 is a very good idea either but I am not going to suggest pistols at dawn to Ben Bernanke if he does go ahead with it.

News Flash to Governor Perry!!!! Ben Bernanke is not the issue. Monetary Policy is not our ticket out. You will not be running against Ben Bernanke if you get the nomination. Know thine opponent!

Wednesday, September 7, 2011

A Little Less than One Month Out

Hi all. I'm back and 90% of my old self. Soon to be 100% I hope though the doctor (and my wife who is a nurse) says it will take some time to completely shake the effects. Anyway I wanted to remind all you good people out there that I have put together this symposium on the Economy and Monetary Policy and you are invited. If you are a member of the Eastern Carolina business community and wish to participate in the lunchtime presentation at Greenville Country Club we would love to have you. Please see the accompanying flyer. We will also repeat this program the evening of October 3, 2011 in Hendrix Theatre on the campus of ECU at 7pm and it is free to the general public. I hope you will be able to attend.

Have a great day,

Randy Parker