At ths risk of causing those few who read my Blog to fall over dead from bordom I here post a few more articles I think make extremely valid points about the economy in general and this current mess in particular. As anyone who knows me for more then a few days realizes I actually find this economics stuff, as well as political stuff, fun and enjoyable. That's right, I even listen to www.econtalk.org and its podcast. Find it most entertaining.
I believe that in this world the concept of economics has a profound impact on how we live our lives, and subsequently on what we do with them. Thus one's position on free trade, open free markets, and the moral implications of profits will have an impact through them on the world around them. Misinformation, or worse disinformation, on this important subject will harm not only this individual, but the entire world. Thus I believe my interest in this area is somewhat justified.
An Open Letter to Congress:
Penny wise Congress:
If Fannie Mae and Freddie Mac were free market institutions they could not have gotten away with their risky financial practices because no one would havebought their securities without the implicit assumption that the politicians would bail them out.
Better we shouldtake our short-term pain straight up and clean out the mistakes of our binge and then get back to the business of free markets without creating an uncheckedExecutive branch monstrosity trying to "save" those who profited most from the binge and harming innocent taxpayers in the process.
I follow with the iced coffee...