Rantlets: Chrysler, Credit and Afghanistan

Chrysler is asking for an additional $5 billion from the federal government and its action plan calls for, among other things, discontinuing the popular PT Cruiser model. This car was reported in February to be Chrysler’s 4th biggest seller and “with a sales drop of 55%, the PT would sell just 42,384 copies per year […]

Lifestyles of rich Republicans

A few times a year I’ll get a hateful comment or a bit of hate email accusing me of being out of touch with the common man. The usual comment is along the lines of “rich Republicans like you have no idea what it’s like to…” fill in the blank. I am, you see, a […]

More on Moral Hazard

Last week I addressed a flaw I saw in the “moral hazard” argument for avoiding any action, no matter how justifiable, on the grounds that it might encourage future risk taking. My point, briefly, was that risk taking is actually something worth encouraging. This week in The New Yorker James Surowiecki exposes the other half […]

The War is Won

American style democracy has come to Iraq: Officials said on Sunday 7.5 million or 51 percent of the more than 14 million registered voters [voted]. From Saddam Hussein to enthusiastic self-government to American style apathy in 6 short years. It took us almost 200. Looks like it is time for the troops to come home. […]

Moral hazard and market failure

Much of the talk last year about how to address the developing financial crisis focused on the concept of “moral hazard”. The concern about moral hazard led folks with no particular aversion to government spending to delay taking action at the earliest stages until the situation had snowballed beyond Lehman Brothers. Now people are starting […]

The Banker’s Depression

It’s funny that today Lawrence Kudlow wrote a blog post (Tough GOPers Stand Up to Geithner; All GOPers Should Counter Keynesian Stimulus ) on the need to oppose Keynesian stimulus just as more news came out showing that bankers are playing a game of chicken with the the pro-Keynesians. The new housing starts report today […]

Rantlets: Gaza, Burris, Richardson

Message to Hamas: This day will the Lord deliver thee into mine hand; and I will smite thee, and take thine head from thee; and I will give the carcasses of the host of the Philistines this day unto the fowls of the air, and to the wild beasts of the earth; that all the […]