Marcy Kaptur Busting Geithner’s Balls

I approve of this questioning by the Rep from Ohio:

On a related note, I’m almost done with Too Big to Fail — Andrew Sorkin’s insanely investigative bailout book. The stuff on AIG is fascinating. Apparently when the 100% payout was finalized, some pissed-off AIG guys saw some Goldman guys high-fiving each other, ecstatic about the deal.

I”ll have a full review of TBTF shortly. It’s the first book I’m reading on my Kindle, which is awesome. I’m taking notes and making bookmarks at key places, so I can find everything quickly for the review.

Durable Goods: More Guns Than Butter

Haver Analytics gives us this chart/data:

military spending on durable goods

Military should be the first in line for budget slashing, but the opposite is taking place. While “defense” spending¬† does boost GDP, and preserve (politically important) jobs, it’s still a huge drag on the real economy.

America’s military is bloated, and much like the FIRE sector, it needs shrinking. Both are incredibly inefficient ways to grow/stimulate an economy. In their current state, both are a drain on American resources. And with their armies of lobbyists, this isn’t likely to change soon.

America faces a funding crisis like we have never seen. The U.S. remains the world’s lone superpower. That would still be the case if we cut military spending 30%.¬† Reducing the budget and shifting those jobs to more productive areas, like energy and manufacturing, would have immensely positive effects on the economy.

The question is – do our political leaders have the courage to cut spending before things get out of control? Based on what we’ve seen so far – the answer is clearly no.

Dilbert on Merger Mania

Scott Adams is wise.

Fear The Boom and Bust

E-boy battle: Hayek v. Keynes

The first of a series by Looking forward to more stuff like this.

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