Archive for April, 2011

The President’s Smoke And Mirrors Budget

Just a minute to post tonight. This from James Pethokoukis is well worth your time. He demonstrates how the Obama budget plan (framework ?, thoughts ?, musings ?) lacks any credible substance. It’s much more tax centric than advertised and essentially impervious to financial parsing given the paucity of detail. Pethokoukis nails it. It’s nothing […]

Housing Fraud Lives

From Yahoo: The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn’t qualify, a government investigator said Friday. • More than 47,500 taxpayers claimed the first-time homebuyer credit even though there was evidence on previous tax returns that they had already owned a home, […]

An Inflation Experiment

One of the excuses that economists advance for being so frequently wrong about most things is that theirs is a science which precludes testing hypothesis. In other words there isn’t any way to set up an economy and see if your theories are valid in the real world. Well, we may have an opportunity to […]

Why Do These People Continue to Disemble?

Fair being fair, I started out to criticize the Republicans for either getting snookered by the Democrats in the recent budget negotiations or being grossly incompetent. Before I proceed to only a bit more complicated explanation of their failure, let me finish that task. It is pretty clear that the cuts that the Republicans trumpeted […]

Obama’s Trigger Option

There isn’t a better source for analysis of Washington economic policy than Keith Hennessey. His ability to go beyond the nuts and bolts of a particular proposal and identify the way it folds into the manner in which Washington does business as well as ferret out the hidden games and agendas is unmatched. That’s why […]

Obama Delivers A Political Speech Not A Plan

Well at least we now know the source of our fiscal imbalances — George W. Bush. We were on the road to endless surpluses until he cut taxes and gave seniors coverage for their drugs. If not for that bounder Barack Obama would not have had to stand up in front of the nation and […]

Speeding Up Foreclosures

An interesting take on recent foreclosure activity from Diana Olick: As regulators and law enforcers battle this out, banks are ramping up foreclosures with increasing speed. A new report from ForeclosureRadar, which measures some of the most distressed markets out West, shows a big jump in March foreclosure sales, the final stage of foreclosure. Total […]