Archive for November, 2013

The New Frannie

Arnold Kling suggests a sensible way of recreating the government supported mortgage industry. In my presentation to the panel, I will say that a government mortgage guarantee is like the ethanol mandate. Whatever the alleged public policy justification, it is really a special-interest handout. See Your Mortgage, Their Rent. Of course, just as with the ethanol […]

The Obamacare Train Wreck

  Just when I thou ght I was out… they pull me back in. Michael Corleone, The Godfather lll That’s kind of how I feel about Obamacare today. I’m tired of reading about it, tired of watching the talking heads opine about it and tired of writing about it. Still … it’s fascinating in the […]

The ACA And Fundamental Political Axioms – A Conflict

There is an ironclad law of redistributive politics at play in the ACA (ObamaCare) fiasco. This law is that concentrated interests almost always conquer diffuse interests.  Milk producers are a concentrated interest.  Milk consumers are a diffuse interest.  Guess which group is favored by the long history of milk price supports?  Dairy farmers get fat […]

Expanding The ACA Subsidies To Quell The Storm

Earlier this evening I wrote a post suggesting that the Obama administration would tough out their current problems with the ACA and that the promises to administratively fix the issues they were encountering with those losing their individual insurance policies amounted to not much more than “stall ball.” I didn’t consider that they might actually […]

Where Do Illiquid Credit Markets Lead?

It’s axiomatic that the real news and analysis that matters most gets buried in the stuff that moves the needle for the radio and TV cable news networks. Case in point today is this extraordinarily good article by Felix Salmon. Let me excerpt a bit of his writing with an explanation to follow. Liquidity is […]

The President Creates New Problems For ACA

Keith Hennessey points to yet another problem with ACA, this one new and created by the President’s remarks yesterday. There’s a problem, that “a small percentage of folks” (8-10 million people) are facing canceled individual market health insurance plans, and some of them are “disadvantaged” by the new options, or will be once they can […]

Is The ACA An Insurance Plan?

A lot on the Progressive side of the blogosphere are knocking themselves out promoting the idea that insurance is a process of various cohorts subsidising one and other. The young subsidize the old or the healthy subsidize the sick. It’s essentially a way to rationalize the lack of insurance underwriting inherent in the ACA. Jane […]