“Now, in fact, I agree that people overleveraged themselves in the last eight years, encouraged by ultra-low interest rates; that is now showing up in the DSR, which is now rising toward 15%. But I do not agree that this is the sort of financial holocaust that some argue. The housing bubble peaked in late […]
Archive for the 'Myths' Category
Apr30th2008
The Argument Against Regulations
Published by in Economics, Hispanics (Minority Issues), Myths, Personal and Poverty. 0 CommentsBacon-wrapped hot dogs are common in downtown Los Angeles and especially in Mexican border cities. Tijuana, for example, has a vendor at almost every corner. Well now, apparently, Los Angeles is trying to ban the cart sale of these very delicious bacon-wrapped hot dogs.
As a huge fan of bacon-wrapped hot dogs (I’ve eaten more […]
Apr25th2008
“What they are saying is that in zip codes where lots of folks were turned down in 1996, you see lenders approving many more loans, and at lower risk spreads in 2001 through 2005, fueling the home price bubble. The lower risk spreads tells me that this was not predatory lending, but the opposite…It sounds […]
Apr18th2008
What Is A Libertarian?
Published by in Capitalism, Economics, Environment, General, ModernPolitics and Myths. 0 CommentsDo you want to know what a Libertarian really believes in? Listen to the father of modern day Libertarianism, Milton Friedman define it without all the distortions and misrepresentations from those who claim to know what libertarianism is.
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Apr18th2008
Milton Friedman On Race, Poverty And Government
Published by in Capitalism, Chicanoism, Discrimination, Economics, Education, General, Hispanics (Minority Issues), Minimum Wage, ModernPolitics, Myths, Poverty, Vouchers and affirmative action. 1 CommentYou need to a flashplayer enabled browser to view this YouTube video
From an old speech but just as relevant today as it was then.
Apr12th2008
Thomas Sowell On Income ‘Stagnation’
Published by in Economics, General, ModernPolitics and Myths. 0 CommentsYou need to a flashplayer enabled browser to view this YouTube video
Many of you have already heard the talking heads who claim income has been stagnant for many years but likely few of you have heard the response. Thomas Sowell gives it here.
Mar11th2008
Brad Schiller, professor of economics at American University and the University of Nevada, Reno writes on the inequality myth:
While there is some substance to these fears of widening inequality and middle-class stagnation, the situation is not nearly as clear-cut. Demographic changes in the size and composition of U.S. households have distorted the statistics in important […]
Feb12th2008
Quote Of The Day
Published by in (modern day) Liberalism, Discrimination, Economics, General, Hispanics (Minority Issues), Myths, Poverty and affirmative action. 2 Comments“There was very little civil rights law before Title VII; nevertheless the black-white income differential narrowed more rapidly in that benighted era than it has since. It is possible that antidiscrimination laws do not benefit their intended beneficiaries, because they give the beneficiaries a sense of entitlement and victimhood, foster tokenism, increase employers’ costs, cast […]
Feb5th2008
What Disappearing Middle-Class?
Published by in Economics, ModernPolitics, Myths and StdOfLiving. 1 CommentDrew Carey on the stronger than ever middle-class.
Update: More here.
Oct4th2007
Quote Of The Day
Published by in Economics, General, Hispanics (Minority Issues), Minimum Wage and Myths. 0 Comments“I just read a very interesting article by Thomas C. Leonard, Protecting Family and Race: The Progressive Case for Regulating Women’s Work, which appeared in the American Journal of Economics and Sociology in July 2005. If you’re at all interested in Progressive Era economists’ and reformers’ attitudes toward working women, this article is a must […]
Jun15th2007
“Is your employer poorer by the amount of money he pays you? Probably not, or you would never have been hired. Why then should we assume that a corporation or its customers are poorer by the amount paid to its chief executive officer?” — Thomas Sowell
Nov15th2006
” In 2001, comparing men and women who never married, never had a child, worked full time, and were college educated, women earned 117% of what men earned. That is, after controlling for marital status, having children, hours worked and education, men earned 85% of what women earned”. — Dr. Mark J. Perry, professor of […]
Sep5th2006
“As shown, what actually reduced the working day and abolished child labor was not destructive state interference but the dramatic and progressive rise in the productivity of labor brought about by businessmen and capitalists. That raised real wages and made it possible for more and more workers to be able to afford to accept the […]
Aug29th2006
Toyota and Volkswagen ALSO Have To Pay For Employees Health Care
Published by in Economics, Europe, General, HealthCare, Myths and Unions. 2 CommentsLiberals are fond of saying that the reason General Motors and US based companies in general are having so many problems competing is because Toyota and Volkswagen, located in Japan and Germany respectively, don’t have to pay health care costs and US based companies do - putting GM at a disadvantage to foreign competition.
Megan […]
Aug9th2006
Welfare Reform - 10 Years Later
Published by in (modern day) Liberalism, Economics, General, Myths, Poverty and Welfare. 6 CommentsThe 10th anniversary of the landmark welfare reform bill of 1996 is here and it is a good idea to reflect on what exactly resulted and contrast that to what people were predicting would happen. Ron Haskins, senior fellow at the Brookings Institution, writes:
It would be difficult to exaggerate the predictions of doom […]
Jul19th2006
The Crazy 60’s
Published by in Discrimination, Economics, General, Hispanics (Minority Issues) and Myths. 13 CommentsThomas Sowell sets the record straight on many supposedly good things that came out of the 1960’s:
While liberals may think of the 1960s as the beginning of many “progressive” trends in American society, cold hard facts tell a very different story. The 1960s marked the end of many beneficial trends that had been going on […]
