Tag: Barry Ritholtz

Bonddad to political bloggers: STFU about econ.

Via Ritholtz, I see bonddad is upset about the politicization of economics by econ-illiterate political bloggers.  I presume Ritholtz somewhat approves of this message, even though he adds it’s more about “dishonesty” and “lack of integrity.”  Bonddad posts some questions for both the left and right to answer before they open their stupid yaps again.

I have some questions for bonddad, Ritholtz, and economists more generally, in return:

1. How is it possible to have infinite growth on a finite planet?  Who are the genius economists who have repealed the laws of thermodynamics?

2. On a related note, if you can’t have infinite growth, how long before a debt-based economy implodes or is forced to declare a debt jubilee as debt inevitably outstrips real wealth?  Again, we’re talking about a measurably finite planet.  I’m pegging it at some time around Lehman, but Europe will also do nicely.  (also, what is the notional value on outstanding CDS; and when is a default not a default?)

3. How many species will be extant by 2050?  How much polar ice will be left?

4. Where is the accountability for outright fraud on Wall Street?  For “privatizing gains, while socializing losses?”

5. To what extent did tax cuts for the rich and imperial wars of aggression contribute to our debt?  Globalization?  Free trade agreements?  If the United States in not an empire, then what is it?  If an empire is not a wealth pump aggressively pursuing wealth from the periphery to pump it into centers of power (and how!), then what is it?

6. When did we return to “mark-to-market” accounting?

7. How’s the “experiment” in austerity working out?

8. Are the busses still running in Detroit?  Do they have streetlights?  Jobs?  Is everyone’s tummy full?

That’s just for starters.  

Waiting for the big one: Price discovery

With caveats, Barry Ritholtz sez the recession is over, and essentially that one couldn’t kill the remaining zombie perma-bears if you strapped them to a nuke and launched them into the Sun (which the true bears believe has already happened.  The rest is just travel time.).

As a perma-bear who believes that the United States is manifestly in an advanced state of moral, political, and economic decrepitude, I found his breezy optimism startling, and potentially even “dangerous,” as in “the sound of great applause lauding folly, then a long period of silence” kind of dangerous.

Barry Ritholtz :The Left Right Paradigm is Over: Its You vs. Corporations

Poor posting etiquette, I know, but I really don’t have much time to write. Just read….



• Many of the regulations that govern energy and banking sector were written by Corporations;

• The biggest influence on legislative votes is often Corporate Lobbying;

• Corporate ability to extend copyright far beyond what original protections amounts to a taking of public works for private corporate usage;

• PAC and campaign finance by Corporations has supplanted individual donations to elections;

• The individuals’ right to seek redress in court has been under attack for decades, limiting their options.

• DRM and content protection undercuts the individual’s ability to use purchased content as they see fit;

• Patent protections are continually weakened. Deep pocketed corporations can usurp inventions almost at will;

• The Supreme Court has ruled that Corporations have Free Speech rights equivalent to people; (So much for original intent!)

None of these are Democrat/Republican conflicts, but rather, are corporate vs. individual issues.

Excellent Article!