Economic Notes

Here are some notes I’ve collected, mostly during my vacation.  Some of these links will probably be a little old, but still pertinent.

Lamar Alexander wants to distribute the federal government’s ownership of GM and Chrysler to taxpayers. I sincerely hope that this happens, as I want to sell my shares as soon as possible.  No use wasting my money by betting on dead companies.

Arnold Kling was asked about “going Green,” and gives several basic but important reasons against. The only Green that should matter to businesses is the kind with dead presidents on it.  And government will run into a calculation problem akin to the economic calculation debate of the 1920s and 1930s.  The market socialists lost that debate in the end, and the environmentalists will lose their version due to the structure of knowledge in society (Kling’s point #7).  I’ll have a post up with a paper I read recently on this exact topic.

Mr. Tough Money Love has six things not to like about Government Motors. He’s absolutely right, and the history of government-run auto companies is not exactly wonderful.

– Since we’re talking about Commie cars, why not talk to one of the original Car Czars?  Ion Mihai Pacepa, former spymaster and car czar, writes about how the Romanian auto industry got started and gives us a glimpse of what Government Motors will likely turn into.

Marc Faber’s getting a little carried away.  Hyperinflation won’t happen.  I’d even say that Bob Murphy’s 25% is too high.  I’m willing to go double-digits, maybe 15%, but I don’t see inflation being much higher than that.  This amount itself, though, is disasterous.

The South Carolina Supreme Court has ruled against Mark Sanford, thus demanding that South Carolina take all of the pork money, including the stuff which will cause future budget problems.

Jeb Hensarling is trying to roll down TARP. I’m glad that he’s pushing for this.  Now that many of the banks are trying to pay their TARP money back, the reasoning for TARP—especially in its current structure—has faded.

– George Mason is trying to take over the world.  They now have Larry White on their faculty.


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