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links for 2011-05-09

  • Quote:"additional bonds must be sold before additional money can be spent or tax cuts implemented. What Keynesian economists miss is that if there are multipliers for government spending, there are also multipliers for bond sales. Because stimulus consists of bond sales followed by spending, the two sets of multipliers cancel each other out – at best. Fiscal stimulus can never produce any net increase in total demand.

    Does this mean that tax cuts cannot stimulate the economy? No, it does not. Just as Keynesian stimulus has failed every time it has been tried, "supply side" tax cuts have worked every time they have been tried. Unfortunately, in the negotiation of the tax compromise bill, the Republicans managed to agree to the one tax cut that provides no supply-side benefit whatsoever.

  • // A lot of peyote went into the development of this, let me tell you.
  • Quote:"It was a close shave for the boys. Literally.

    Those with stubble on their chins were handed straight razors and told to shave.

    // If it's wrong for a man to wear stubble on his chin, I don't want to be right.

  • Quote:"What a foolish boondoggle those tax breaks for home buyers have turned out to be. The government spent an estimated $22 billion between 2008 and 2010 on tax breaks to prop up the housing market. All it achieved was a brief suckers’ rally that ended last summer.

    // Read the whol article, it includes zombie banks.

  • Quote:"U.S. home values fell in the first quarter at the fastest rate since late 2008, real estate data firm Zillow said on Monday, suggesting that a bottom will not be seen until 2012 at the earliest.
  • Quote:"The current college education bubble is one of the largest bubbles in U.S. history. The college bubble has been fueled by the U.S. government's willingness to give out cheap and easy student loans to anybody who applied for them, regardless of if they will ever have the ability to pay the loans back. Student loan debt in America is now larger than credit card debt, but unlike credit card debt, student loan debt can't be discharged in bankruptcy.
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