Some economic news:
This morning’s jobs report shows that the economy’s subsidized private sector (industries like health care services that receive big government subsidies) is back as a major source of new hiring.
If a stronger but sustainable U.S. recovery depends on reinvigorating industries not heavily dependent on government largesse, then this hiring out-performance . . . → Read More: That Which Is Unseen
What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.—Adam Smith, The Wealth of Nations
Here’s some nonsense on stilts:
Richard Feynman was once asked what he would pass on if the whole edifice of modern scientific knowledge had been lost, and all he . . . → Read More: A Lack of Prudence
Congress has an idea:
American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what’s best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next . . . → Read More: A Federal Budget Cut We Need
So the CP daily blogh points to some recent reporting from PublicSource here in town on the impact of bid rigging in some municipal bonds for local school districts and the Port Authority. I am unclear what the new news is. Some may recall a few old posts on this here. August 2011: Monty . . . → Read More: Old is new again
Proposals to spend more on government programs in India are generally criticised on the grounds that this is sending more money down a leaky pipe. In addition to the problem that the pipes leak, there is an equally big problem that we have no idea about what happens at the other end.
In order . . . → Read More: Blindly sending money down leaky pipes
Drugs are apparently being imported into the US by submarines:
Although they captured 129 tons of cocaine on its way to the U.S. last year, the Coast Guard thinks that close to 500 tons could now be making it through. “My staff watches multi-ton loads go by,” Rear Adm. Charles D. Michel told The . . . → Read More: I Wonder If They’re Yellow
Equity valuations have so far failed to keep pace with rising bullion prices, but that makes for some outstanding investor opportunities among a few particularly well-positioned juniors that Rick Mills identifies as running ahead of the herd this summer. In this exclusive interview with The Gold Report, Mills, publisher of Ahead of the . . . → Read More: Summer Shopping Opportunities for Mining Equities Abound: Rick Mills
Foseti provides one for “austerity”:
I’ve complained a few times that opponents of austerity refuse to define what they’re opposed to. Naively, I’d assumed that austerity meant that governments were cutting spending. Actually, it turns out governments continue to spend more money during period of austerity and even periods of “crippling austerity.” I’ve done . . . → Read More: A Welcome Definition