"If an experiment in private enterprise is unsuccessful, people lose money and they have to close it down. If a government experiment is unsuccessful, it’s always expanded." ~ Milton Friedman – Youtube
"Socialists look right wing to a Communist." ~ HS
Game theory explains why Presidential veto power may not make sense ~ Lesswrong
Equity Ownership since 1945 ~ Twitter via (Bloomberg) - Government prints money, seizes purchasing power from the people, banks buy at rock bottom rates, then buy equities.
Tax and budget math ~ Zerohedge
- Hiking taxes by 50% on wealthiest Americans will raise $400 billion. The annual budget deficit is $1.5 trillion, so 50% tax rates will do nothing. These figures are optimistic, since after the first year, the economy will slow, as even Christina Romer’s research shows. Looters taking money from the producers to give to the moochers runs counter to economic growth.
US munis face $2 trillion in unfunded pension costs ~ Reuters – $MUB
Twitter User-Detail Inquiries From Governments Surge ~ Bloomberg
- No worries, this will fall to zero once the government subscribes to the API and gets all tweets, profiles, then targets by religious and political views, if history is any guide (Hoover, McCarthy, Nixon).
Alan Blinder: There’s a ‘Big Civil War’ at Fed ~ Bloomberg
- This is a ridiculous statement: globally, government has stocked central banks with doves. Whose fighting, Doves fighting Turtle Doves? There’s one hawk of 12. Socialists look right wing to a Communist.
Exports have accounted for nearly half of the increase in U.S. GDP since the recession ended in 2009 ~ FRB Atlanta
- Industrial production is up roughly 17% since 2009, while manufacturing jobs are up less than 2%, according to Bloomberg. The robots are coming.
Citi sees market heading higher on proprietary sentiment figure ~ businessinsider
Chinese generals could overthrow government, brandish new version of Hitler ~ Financial Sense
- The Chinese government will be tested once the faux growth is unmasked. As for timing, and as judging by the Greek riots and Occupy Wall Street, 2-4 years after a hard landing is a rough guide. So let’s say 2-4 years, starting 1 year from now, one of the 9 China’s, driven by the 40-60 different ethnicities, will create problems.
Pettis remains a skeptic on prospects for reform in China ~ Michael Pettis
China Land Market Defrosts ~ WSJ – bubbles can always grow bigger
China’s shadow banking includes "Credit Guarantee Companies" ~ Chovanec
- At the end of 2011,China had official 8,402 credit guarantee companies with total assets of RMB 931 billion, + 57% y/y
Angola’s Chinese-built ghost town ~ BBC
In 1993, property prices amid Taiwan’s bubble were 13 times Household disposable income. In 2010, it was 23 in Beijing and 16 in Shanghai.
Popularity: 3% [?]