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[?]Submitted by Businomics Blog
TARP is, of course, the Treasury plan to provide capital to banks. There are terms of the deal described in the press and in official documents from the Treasury. However, the deal is subject to any modification that Congress wants to make. Section 5.3 says […]
General Motors Job Loss: Don’t Believe It
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[?]Submitted by Businomics Blog
If General Motors is allowed to fail, won’t we lose three million jobs? That multi-million job loss comes from both GM’s own employees, plus the suppliers and dealers. However, the economics behind that idea is pretty bogus.
The number of auto jobs we have is tied to the […]
Two Very Dangerous Words: “Fair” and “Fairness”
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[?]Submitted by CARPE DIEM
In “The Armchair Economist,” economist Steven E. Landsburg posed the following:
“Suppose that Jack and Jill draw equal amounts of water from a community well. Jack’s income is $10,000, of which he is taxed 10%, or $1,000, to support the well. Jill’s income is $100,000, of which she is […]
Markets In Everything: Mom Professionals
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[?]Submitted by CARPE DIEM
Click below:
The Top Ten Cars That Help Explain The Demise of Detroit, and The Possible Revival of the Big Three
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[?]Submitted by CARPE DIEM
The global financial crisis is suffocating the Detroit automakers, but the problems have been festering for years—even when the mighty “Big Three” were earning billions. Aging factories, inflexible unions, arrogant executives and shoddy quality have all damaged Detroit. Now, with panicky consumers fleeing showrooms, catastrophe looms: Without a […]
Cartoons of the Day
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[?]Submitted by CARPE DIEM
But hey, politicians’ ideas are never on empty….
Female-Male Breakdown: College Degrees By Field
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[?]Submitted by CARPE DIEM
On this CD post, I presented charts using Dept. of Education data showing that 135.5 women received bachelor’s degrees (58% of the total) for every 100 men (42% of the total) in 2005-2006, and the F:M bachelor’s degree ratio is expected to increase to 150:100 by 2016. […]
The Corporate Tax Hike of 1932 on Small Business
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[?]Submitted by CARPE DIEM
From 1918 until 1931, the U.S. had a flat tax on corporate income, with a tax rate of 0% for the first $2,000 of income from 1918 to 1927 (equivalent to $26,000 today), and a tax rate of 0% on the first $3,000 of income from 1928 to […]
Turning Wall Street Partnerships Into Corporations: “It’s Laissez-Faire Until You Get In Deep Shit”
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[?]Submitted by CARPE DIEM
The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in the book “Liar’s Poker,” returns to his old haunt to figure out what went wrong, and writes about in “The End.” Here’s an excerpt from the last page:
John Gutfreund did violence […]
Big 3 Bailout: The Ultimate in Lemon Socialism, Leading to The Encroaching Command Economy
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[?]Submitted by CARPE DIEM
With almost 5 million workers supported by the auto industry, Democrats are pressing for a federal rescue. But the problems are obvious.
First, the arbitrariness. Where do you stop? Once you’ve gone beyond the financial sector, every struggling industry will make a claim on the federal treasury. What […]
Just Say No to Detroit; Let’s Cut Our Losses And Let Society’s Scarce Investment Flow To Better Uses
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[?]Submitted by CARPE DIEM
Given the abysmal performance by Detroit’s Big Three, it would be better to send each employee a check than to waste it on a bailout, says NYU finance professor David Yermack in today’s WSJ:
Our government is being asked to put tens of billions of dollars in GM, Ford […]
The Oil Shock of the 1930s: Another Factor?
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[?]Submitted by CARPE DIEM
The chart above shows the real monthly price of oil from January 1931 to December 1939, using monthly oil prices adjusted for inflation using monthly CPI data, both data series from Global Financial Data (paid subscription required). Between 1931 and 1934, real oil prices more than doubled […]
Did the +26% Increase in Gas Prices During the 1930s Contribute to the Great Depression?
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[?]Submitted by CARPE DIEM
Here’s maybe another reason (see previous post here) why we shouldn’t be making comparisons of today’s economic conditions to the Great Depression. The real price of gas increased by 26% between 1931 and 1934, which certainly didn’t help an already weak and struggling economy.
Although gasoline was less important […]
How Does $2.12 Gas Compare to Past Prices?
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[?]Submitted by CARPE DIEM
Feeling nostalgic for the days of 17 cent gas in 1931, 20 cent gas during WWI, the gas below 30 cents during the first half of the 1950s, or the $1.40 gas of the early 1980s? If so, you’d be suffering from “money illusion,” the tendency to confuse […]
Should We Bail Out the Auto Makers?
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[?]Submitted by CARPE DIEM
While the market tests new lows and the economy continues to weaken, a decision that could further impact every American taxpayer stands right now before Congress: Should Detroit’s auto makers be tossed the same sort of lifeline that some financial institutions received from the U.S. Treasury - tens […]
Market Scan for Small Cap Stocks on November 14, 2008
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[?]Submitted by Ducimus Plinius
Market Scan for small cap stocks
at the close of the markets on November 14, 2008
The table below identifies the stocks returned on my scan of the US markets for small capitalizations stocks likely to display the characteristics of stocks entering Phase II, as described by Stan Weinstein.
Under $5.00 […]
ICXT: CEO Discusses Q3 Results and Outlook with Major U.S. Army Contract
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[?]Submitted By Knobias ClipReport
By Fain Hughes, fhughes@knobias.com
ICx Technologies, Inc. (ICXT) announced its financial results for the third quarter ended Sept. 30, 2008 after the bell on Thursday.
The Company reported revenue of $45.0 million, compared to $34.2 million for the quarter ended September 30, 2007. Net loss for the quarter was […]
Average Gas Price Below $2 in 19 States
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[?]Submitted by CARPE DIEM
Missouri: $1.865
Oklahoma: $1.880
Ohio: $1.886
Indiana: $1.928
Kansas: $1.928
Mississippi: $1.946
Kentucky: $1.947
Texas: $1.952
Wyoming: $1.957
Minnesota: $1.965
North Dakota: $1.967
South Carolina: $1.970
Tennessee: $1.972
Arkansas: $1.975
Virginia: $1.983
Michigan: $1.985
Colorado: $1.990
Georgia: $1.991
Iowa: $1.993
See full list of states here.
A Cancer on the Big Three: The $29/Hr. Pay Gap
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[?]Submitted by CARPE DIEM
Why is GM (and Ford and Chrysler) seeking taxpayer subsidies when Toyota, Honda, Nissan, Kia, BMW, Daimler, Hyundai and other foreign nameplate producers, who are facing the same contracting demand and credit crunch quietly weathering the storm, are not? Because the latter have costs structures that haven’t been […]
The Bank of Michael Perelman
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[?]Submitted by unsettling economics
I am happy to announce that I have changed my name. As of now, you may address me as The Bank of Michael Perelman.
I am not greedy. If Secretary Paulson would grant me only a couple hundred million, I would not trouble him for one of the billion […]
Investment advice for a wild market
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[?]Submitted by Econbrowser
Your retirement nest egg might have lost 40% of its value since this summer and 10% the last 2 weeks. What should you do? Here’s the advice I’ve been giving to friends who ask, as well as what I’ve been doing with my own portfolio.
First, let me begin by […]
The Consumption Path under Certain Assumptions: Back of the Envelope Calculations
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[?]Submitted by Econbrowser
Suppose by 2009Q4, GDP is 0.13% below 2008Q3 levels, real equity wealth is 35.2% below end-June levels, and real nonequity wealth is 6% below end-June levels. Further assume that the real Fed Funds rate remains at 2008Q3 levels (-2.45%). Then, the conditional estimate of 2009Q4 consumption will be 2.16% […]
No Recession At Wal-Mart
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[?]Submitted by CARPE DIEM
WSJ: Wal-Mart, the nation’s largest private employer, is reaping big gains from the souring economy even as consumers cut back, retail chains struggle and thousands lose their jobs.
On Thursday, after a week of bad news from retailers such as Best Buy and Starbucks, Wal-Mart said earnings for the […]
Can We Use 1970s, 1980s or 1990s as Benchmark?
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[?]Submitted by CARPE DIEM
The top chart above shows today’s updated WSJ consensus forecast (based on 55 forecasters, data here, article here) for the U.S. jobless rate of 7.7% in December 2009, up from the 6.8% forecasted previously (see CD post here).
Let’s say the forecasters are correct and the U.S. unemployment […]
After Taxes, World Series Winner Finishes Second
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[?]Submitted by CARPE DIEM
The World Series of Poker ended this week at the Rio Hotel and Casino in Las Vegas, and Denmark’s Peter Eastgate (pictured above) became the youngest-ever winner of the world title. He is very much the new breed of player: 22 years old, Danish, mathematically brilliant, who gave […]
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