Here we go again….  I just posted about the broken window fallacy on Saturday, and here comes Eric Zencey writing in the NY Times trying to claim that “If you get into a fender-bender and have your car fixed, G.D.P. goes up” and that “Hurricane Katrina produced something like $82 billion in damages in New […]

Goodbye Capitalism

Capitalism is almost dead in the US.  What follows is a copy and paste of part of yesterday’s Daily Reckoning.  You need to read it – both what follows and the Daily Reckoning site.  Enjoy! gk Obama’s new budget is the biggest bag of leeches to come along since the Roosevelt Administration. We have not […]

When will the recession end?

Good series of articles in the NY Times today titled When Will the Recession Be Over? It’s a good read with differing views, but the bottom line consensus is “not soon”. gk

Dollar vs Euro

Despite the news about Bear Stearns, this may be the news that is the most significant in the long run.  The EEC economy is now larger than the US economy.  According to the story “Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries which use the euro […]