Asymptosis: Always Approaching

Month: September 2008

  • Hiding the Bailout

    Everyone has their two bits worth. Mine: Aside from the whole thing being incredibly vague and relying far too much on the Secretary's "discretion," this passage from the CBO's description is egregious. …the federal budget would not record the gross cash disbursements for purchases of troubled assets (or cash receipts for their eventual sale), but…

  • Ahh, for European Stability…

    If there’s one thing people would like more of these days, it’s stability. When the economy rockets up one year, then plummets or stagnates the next, it’s bad for everyone–especially those farther down the income scale, who have less recourse in face of national and global events that are completely beyond their control. This got…

  • Is There a Credit Crunch?

    Not on Kiva. This site lets you make direct micro-loans to small businesspeople across the world. The only problem, right now: there aren't enough loan requests to match all the willing lenders. You basically have to lurk, hitting refresh constantly, to make a loan before a new requested loan gets fully subscribed (like, within minutes).…

  • More on Equality and Growth

    I just came across this graph that I created a while ago, and never got around to posting. Trickle-down theorists would have you believe that inequality is necessary for growth and prosperity, or even that inequality causes growth. But in the decades after their theories took sway, growth declined. It came after therefore it was…

  • The Republican Alternative Rescue “Plan”

    I think Arnold Kling's commentary pretty much says it all: As I say in my AP stats class, "I appreciate that you raised your hand and tried to answer, but no. Anyone else?" Now which political party is it, exactly, that's supposed to know something about finance and economics? To make sensible, judicious, reasoned judgments…

  • Gaming McCain’s Game

    Some people think the McCain bailout/debate maneuvering has positioned him to trap Obama: McCain's way out? – First Read – msnbc.com. So what if McCain shows up and tonight and says, ""I'm sorry I couldn't sign on to this Washington-Wall Street plan that I worried was putting an even bigger burden on taxpayers than this…

  • The Palin “Bounce”

    It looks like this: No related posts.

  • Arch-Con National Review Abandons Palin

    Kathleen Parker, to be precise: It was fun while it lasted. Palin’s recent interviews with Charles Gibson, Sean Hannity, and now Katie Couric have all revealed an attractive, earnest, confident candidate. Who Is Clearly Out Of Her League. Related posts: Sullivan’s Surprised?? Why nominating Clinton would be a Very Bad Thing Everything Sez: “Obama Landslide.”…

  • Paulson/Dodd Plan: Mankiw Stipulates to the Merits

    Greg Mankiw posted the views of a surrogate (his "smart friend") to dis the Paulson/Dodd bailout compromise (buy assets, get warrants/equity as well). His friend addresses the plan on its merits. But when David Leonhardt replied , also addressing the plan's central issues, Mankiw changes tack, arguing that it will screw up the auction process:…

  • Bailout: Dems Have the Smart Solution (Again)

    Very quickly here because I have to run out the door, you'll have to google for your own links: Senate Banking Committee Chairman Chris Dodd has proposed an alternative to Hank Paulson's "just trust me" blank-check bailout proposal. Simply put: If Treasury (that means you and me) buys $1 worth of trash assets from a…

  • Wall Street Journal Endorses Obama

    Well not in so many words, but for all intents and purposes: In a crisis, voters want steady, calm leadership, not easy, misleading answers that will do nothing to help. Mr. McCain is sounding like a candidate searching for a political foil rather than a genuine solution. Here. Related posts: Hillary: The “one-woman solution to…

  • McCain Biographer Now Sez: “not a principled man.”

    Elizabeth Drew, who penned a rather adulatory McCain biography just a few years ago (Citizen McCain,  2002), says: … In retrospect, other once-hailed McCain efforts – his cultivation of the press (“my base”) and even his fight for campaign finance reform (launched in the wake of his embarrassment over the Keating Five scandal) now seem…

  • John McCain Pledges to Eradicate Government

    John McCain has promised to balance the federal budget by 2013. He's also pledged to enact a tax plan that will deliver a budget deficit of $650 billion dollars in 2013. Just to give these numbers a little perspective: Agency 2013 Projected Outlays Agriculture $120 billion Commerce $9 billion Education $86 billion Energy $30 billion…

  • The Republican Energy “Plan”?

    Here's the best description I've seen of McCain's plan for American "energy independence": The image was produced by these guys, with data from the Energy Information Administration.  HT to Gristmill and Mark Thoma. Related posts: The Villain of Building Energy Efficiency: Triple-Net Leases. Not Picking the Low-Hanging Fruit The Efficiency of De Ebil Gubmint Man…

  • Yeah, The Economy Rocks Under Dems. But It’s Not Their Fault.

    Greg Mankiw pooh-poohs the data using one of his favorite tactics: Fun with Statistics Princeton economist Alan Blinder says Democratic Presidents are better for economic equality between rich and poor. Chicago economist Casey Mulligan says Republican Presidents are better for economic equality between men and women. My take: These articles are completely persuasive, as long…

  • Chill

    H/T: Ta-Nehisi Coates No related posts.

  • Not Blinking

    My sister sez: I wish someone would make the point that, if you don't blink, you get a lot of sand in your eyes. Seems like that would make it kind of hard to see "the facts on the ground." Related posts: Ah: The Republicans Banned Earmarks! To claim “objectivism” at 20 is predictable. To…

  • Polling the Pollster Pollers: Obama Still Strong

    Update: If you're looking for conservative polling, click here. I've been meaning to put together a post for a while now on the metanalysis sites: the top-feeders one level above pollster.com, realclearpolitics, electoral-vote and the like (who aggregate and average recent polls)–outfits that run statistical crunchers on the polls, and spit out what everyone wants…

  • Everything Sez: “Obama Landslide.” What Gives?

    Update: If you're looking for conservative polling, click here. We all know that national polls tell us nothing about what's gonna happen in November. (See, for instance, this very funny post.) But still. The national polls seem way out of synch with every other indicator. Obama and McCain have been nearly tied for months (with…

  • Pro-Growth Republicans Revisited

    In comments on my recent post–which discusses how the economy performs (much) better under Democratic presidents–my friend Steve uses a few different rather familiar arguments to undercut the import of the facts imparted therein. He claims first that presidents don’t have any effect on taxes and such–that congress controls the purse strings. But he acknowledges…

  • Tax-Cutting Republicans? Get Real

    Put aside for the moment the current Republican presidential candidate’s tax plan, which imposes higher taxes on 250 million Americans than the Democratic candidate’s plan. The simple fact is–as innumerable sages (at least since Adam Smith) have pointed out–spending is taxing. Three choices (laid out very nicely by Brad DeLong): Raise taxes in the future.…