Nobody From Nowhere (@i8dc)

Occasional Common Sense

Archive for the ‘Recommended Reading’ Category

If Some Dare Call It Treason, Was Milton Friedman a Traitor?

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Read the PDF linked to by Joe Nocera in his column today.  It’s a presentation by Northern Trust chief economist Paul Kasriel about the role of credit contraction in the current economy.  Pretty compelling.

 

 

Written by David Clayton

September 20, 2011 at 6:17 am

Weekly Links Worthy of a Few Minutes

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Written by David Clayton

August 26, 2011 at 5:53 pm

Krugman, Deficit Growth’s Sources, and the Balanced Budget Amendment

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Krugman explains the sources of the growth in the deficit from 19.6% of GDP in FY 2007 to 23.8% in FY 2010.  Short answer: falling GDP (1.2%), Medicaid and unemployment (2.0%), and stimulus (1.0% and falling fast).  More than 3/4 of the increase in spending has been automatic responses to a flagging economy.

But what would have happened under a balanced budget amendment (BBA)?

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Written by David Clayton

July 29, 2011 at 11:56 pm

Great Idea if You Can Afford It: Establish a Roth IRA for Your Kids

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From William Baldwin via Forbes:

A youngster can put up to $5,000 a year in a tax-sheltered retirement account, but can fund it only with dollars earned working. You can help out with the dollars, but the child has to work in a real job… If your daughter earns $4,000 as a lifeguard, you let her spend that money as she normally would.  You come up with the $4,000 to put in the retirement account…

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Written by David Clayton

May 15, 2011 at 12:54 pm