Is a U.S. Default Inevitable?

As President Bush prepared to invade Iraq in September 2002, the head of his economic policy council, Lawrence Lindsey publicly estimated such a war could cost $100 billion to $200 billion. Lindsey had committed candor, and the stunned ...

Bodrum, Turkey

The Shadow Science of Economics

I spent the Memorial Day weekend as a guest of Professor Hans-Hermann Hoppeā€™s Property and Freedom Society at their annual conference in Bodrum, Turkey. It was a wonderfully relaxing break, for which I am very much obliged to the good ...

And the Debt Bomb Ticks On

With his approval rating moving up to 50 percent and higher in some polls, the pundits are all agreed. President Obama has turned the corner. He is now the winter-book favorite in 2012. How, two months after his ...

Bailing Out Ireland

Otto von Bismarck is said to have proposed the following solution to the Irish Question: Move all the Irish to Holland and all the Dutch to Ireland. With their industriousness, sobriety, and civic virtue, the Dutch would soon have ...

The National Debt: Apocalypse Now

“The car has already hit the tree and the bumper is already in the process of buckling inward, so there is no time to turn the wheel or fasten seat belts. It is too late to do anything but scream.” Thus writes Vox Day in ...

The New Wild West Economy

The financial geniuses who caused, yet failed to predict, the world’s financial collapse are not doing much yet to avoid another crash. Given that I didn’t predict it either, I am as qualified as they are to propose ...

Obama: Slowly but Surely Stealing our Retirement Savings

There’s an old story variously ascribed to any number of inscrutable Chinese men: how do you get the cat to bite a hot pepper? Zhou En Lai (or Mao, Chiang Kai Chek, or possibly that bloke who taught Grasshopper on the TV) asks his ...

Leave It to the Markets

If the Dow plunges a thousand points in 10 minutes, what should we do about it? Other than scrape that brown stuff off the insides of our underpants as we contemplate the wreckage of our retirement plans? How about this as a truly ...

Quit Blaming Wall Street

Much as it pains me to do so I fear that I must praise a left leaning economist. Dean Baker, please stand up and take your bow. He’s told the truth, always a bad career move in the political arena, about the current financial ...


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