Category Archives: economics

Yisroel Pensack: Why Economists Cannot Think Clearly About Economics

The “Economix” blog at The New York Times today features an article headlined “Interest Rates and the Housing Cycle” by Casey B. Mulligan. Mulligan, an economics professor at the John D. Rockefeller-founded University of Chicago (read: citadel of privilege), treats … Continue reading

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Yisroel Pensack: Is Sarah Palin a Follower of American Economist Henry George?

According to an AP report in The New York Times: ANCHORAGE, Alaska (AP) — Records show that Sarah Palin has not paid any property taxes on cabins that have been built on two backcountry plots partially owned by the former … Continue reading

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Yisroel Pensack: Ballot Measure to Overhaul California’s Tax System Receives Clearance to Collect Voter Petition Signatures

The proponent of a constitutional amendment that would overhaul California’s tax system by abolishing or reducing taxes on earned incomes, commerce and industry has received authorization from state officials to solicit signatures needed to place the measure on next November’s … Continue reading

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About 25% Of FHA Loans From Past 2yrs In Trouble

Here’s some scary testimony to Congress, that 20 percent of F.H.A. loans insured last year — and as many as 24 percent of those from 2007 — faced serious problems, including foreclosure, offering a preview of a forthcoming audit of … Continue reading

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Housing Remains America’s Biggest Economic Problem

Is the only solution for banks to rewrite loan terms? Will their stockholders put up with this? Why penalize those who are keeping up with their mortgage payments? The Telegraph of London says: One recent report, from property research firm … Continue reading

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Frustrated With Economic Forecasts

It is easy to bash economists for getting forecasts wrong, but what other group does better with its forecasts of how people will behave. From Canada: Toronto — Alan Greenspan’s statement that the best minds at the Federal Reserve – … Continue reading

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Reforming The World’s Financial System

Here’s the view from Jamaica: The Editor, Sir: We are being continuously bombarded by amazing developments out of the unfolding world financial and economic crisis. One of the latest was former Fed Chairman Alan Greenspan’s contrite admission before the United … Continue reading

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Why is the Government Modifying Mortgages?

Peter Viles writes: The L.A. Times today leads the newspaper with a look at Countrywide’s plan to modify up to 395,000 mortgages — 125,000 in California — to make the mortgages affordable to buyers who are living in houses they … Continue reading

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How Do You Know If You Are In Trouble?

Most Americans are not in trouble because of stock market losses in the past month. Most people’s income is not primarily effected by the stock market. If you are trying to get a loan, however, you’re suffering. People about to … Continue reading

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Where Is The $700 Billion Bailout Going?

The Christian Science Monitor reports that the bailout is changing. It’s getting bigger and more ambitious and is looking more like a trillion dollar program. The first change was for the government to start buying a direct stake in banks. … Continue reading

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