Don't blame it on the Germans. They are the only ones over there with any sense.

http://online.wsj.com/article/SB10001424052970204449804577068430482022446.html?mod=djemEditorialPage_t

Brett Stephens takes his rapier-like pen and carves up the Church of Global Warming.

http://online.wsj.com/article/SB10001424052970203935604577066183761315576.html?mod=djemEditorialPage_t

Herman Cain filandering? He should be disqualified to be president.

My new dog's first bird.

Dr. Doom sets out four scenarios.

http://www.project-syndicate.org/commentary/roubini44/English

This same thing happened recently in Pitt County NC. Where is the humanity?

http://www.nytimes.com/2011/11/17/opinion/kristof-the-face-of-modern-slavery.html?src=ISMR_AP_LO_MST_FB

In Iceland now you cannot even leave the country without the government's permission.

Thanks to Dr. Rothman.....


http://www.voxeu.org/index.php?q=node/7275

Greek exit. Get the mops out to clean up the bloody mess.

http://online.wsj.com/article/SB10001424052970203804204577015990542256190.html?mod=WSJ_hp_LEFTTopStories

Another look at Nominal GDP targeting.

If inflation expectations increase, doesn't that shift the Phillips curve?




http://economix.blogs.nytimes.com/2011/11/02/will-bernanke-take-aim-at-g-d-p/?hp

My new buddy "Sophie" comes next month.

Watch this Power Point. True beauty.
http://www.funnyeconomist.com/Mansbestfriend.pps

NGDP targeting gains momentum.

http://blogs.wsj.com/economics/2011/10/27/what-is-ngdp/

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

It just hit me...they want Greece to go through the debt deflation gauntlet just like the folks did during the Depression. Not likely!

http://www.ft.com/intl/cms/s/0/1299d48c-0a01-11e1-85ca-00144feabdc0.html#axzz1dE6CEUwm

Spineless coward bastards all. Let people live and be who they are.

http://www.nytimes.com/2011/11/14/nyregion/marching-after-anti-semitic-vandalism-in-brooklyn.html?_r=1&scp=1&sq=midwood&st=cse

The Euro is dead. Germany will never go along with this.

http://www.project-syndicate.org/commentary/eichengreen36/English

The Supremem Court will decide Affordable Health Care Act.

http://online.wsj.com/article/SB10001424052970204190504577037932371519676.html?mod=WSJ_article_LatestHeadlines

Greece is not California. You need to read this...so very clear.

http://rodrik.typepad.com/dani_rodriks_weblog/2011/11/why-is-the-bankruptcy-of-the-greek-government-different-from-the-bankruptcy-of-california.html

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.....

This is why they are the greatest generation.

http://voxvocispublicus.homestead.com/morrow.html

Counter Point: Maybe high taxes are not the cause of Europe's problems after all?

http://fatasmihov.blogspot.com/2011/09/macroeconomics-evidence-or-ideology.html

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...





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

Europe's problem? Entitlements, Entitlements and Entitlements. Don't blink...our problem too.

http://online.wsj.com/article/SB10001424052970204190704577026194205495230.html?mod=djemEditorialPage_t

Major Nominal Income Targeting discussion. From Steve Williamson's Blog.

http://newmonetarism.blogspot.com/2011/10/nominal-gdp-targeting.html

Thinking structurally and long term.

http://www.econbrowser.com/archives/2011/09/what_could_amer.html

Goldman Sachs makes the case for nominal income targeting.

http://www.funnyeconomist.com/Goldman.pdf

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!

Real neat graphs on debt and taxes and stuff. Thanks to Phil McPherson for sending these.

http://www.zerohedge.com/news/10-essential-fiscal-charts-demonstrating-americas-disastrous-condition

Argentina embraces social justice and makes Black Berry phones at 15 times the world price.

http://online.wsj.com/article/SB10001424052970204002304576630973369218208.html

Uncertainty is worse than knowing the truth...no matter how bad.

http://www.bloomberg.com/news/2011-10-06/policy-uncertainty-is-choking-recovery-baker-bloom-and-davis.html

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