APRIL 7, 2010 By ALEX J. POLLOCK Government employees on average have higher pay and bigger benefits than the private-sector employees who support them with taxes. This has become a well known fact. When private firms run extended losses—spending more money than they take in—their employees must share in the necessary adjustments. But how about […]
How To Cut Government Pay Read More »
APRIL 7, 2010 By ZACHARY KARABELL So we’re almost there. The Dow is flirting with 11000 for the first time since October 2008—after falling to a low of 6500 in March last year. Now seems an appropriate time to ask whether the dramatic recovery of stocks is sustainable and to speculate about what comes next.
DOW 11000 Is Only the Beginning Read More »
APRIL 7, 2010 By PETER J. WALLISON AND DAVID SKEEL There are many reasons to oppose Sen. Chris Dodd’s (D., Conn.) financial regulation bill. The simplest and clearest is that the FDIC is completely unequipped by experience to handle the failure of a giant nonbank financial institution. The country should be grateful for the determination
The Dodd Bill: Bailouts Forever Read More »
Henry Waxman’s War on Accounting By Megan McArdle Accounting basics: when a company experiences what accountants call “a material adverse impact” on its expected future earnings, and those changes affect an item that is already on the balance sheet, the company is required to record the negative impact–“to take the charge against earnings”–as soon as
The Atlantic – Accounting Basics Read More »
The Wall Street Journal APRIL 5, 2010 By IRWIN STELZER So we are to have a European-style value-added tax (VAT). That’s the emerging consensus in Washington as people come to recognize the reality of the deep financial hole into which the Obama administration has dug us. The Congressional Budget Office reckons we will be Greece
Small Bras and the VAT Read More »
Frank Roche, a Republican candidate for the North Carolina 4th Congressional District has an extensive international banking/economics background. He was a guest on the FOX Business Channel on numerous occasions and the following link shows a selection of video clips from those appearances. Here is the link. http://www.youtube.com/watch?v=cayMddVxIiE&playnext_from=TL&videos=UJwRQrwISbI
Video – Frank Roche Appears on FOX Business Channel Read More »
REVIEW & OUTLOOK APRIL 1, 2010 One more housing bailout to prolong the market agony. Last Friday the White House announced its latest plan to prevent mortgage foreclosures, and earlier this week the famous Case-Shiller index found mostly flat home prices in January with analysts warning about a new wave of foreclosures to come. You
The Permanent Mortgage Crisis Read More »
THE WASHINGTON TIMES GOOD VALUE: REFLECTIONS ON MONEY, MORALITY AND AN UNCERTAIN WORLD By Stephen Green Atlantic Monthly Press, $25 288 pages Reviewed by Roger Lott (Mr. Green seems to think of the modern global economy as consisting of chains whose weakest links must be preserved to prevent the whole thing from coming apart. What
Book Review – Good Value – Faulty Argument for a New Capitalism Read More »
OPINION MARCH 30, 2010 By CHARLES R. SCHWAB Today’s historically low interest rates may be feeding banks’ profitability, but they are financially starving our seniors. In February 2006, when Ben Bernanke was first sworn in as chairman of the Federal Reserve, the federal-funds target rate stood at 4.5%. That same year, the average yield on
Low Interest Rates Are Squeezing Seniors Read More »
OPINION MARCH 30, 2010 By ALAN REYNOLDS President Barack Obama’s new health-care legislation aims to raise $210 billion over 10 years to pay for the extensive new entitlements. How? By slapping a 3.8% “Medicare tax” on interest and rental income, dividends and capital gains of couples earning more than $250,000, or singles with more than
The Rich Can’t Pay for ObamaCare Read More »
