image from ThriftBooks I found Peter Zeihan's The Accidental Superpower to be a very interesting, informative, and entertaining book. It seems to be a great introduction to geopolitics, especially with its awesome maps. The first half of the book is brilliant, describing the geographical advantages that led to America's rise. As he describes in the book,… Continue reading Review of The Accidental Superpower
(image via goodreads) Odd Arne Westad's The Cold War is simply a must-read for anyone who wants a better understanding of the world today. Despite having lived through the Cold War -- and as someone who probably pays closer attention to current events, world politics, and history than your average American -- there was a… Continue reading Review of The Cold War: A World History
https://www.youtube.com/watch?v=we-L7w1K5Zo "Boo! Different political party!" You may have noticed how political debates in the U.S. these days tend to be two sides shouting and hurling insults at each other. Do you want to do something about it? Well, the first step is to be able to understand what you believe and why. If your only… Continue reading How I define Conservativism and Liberalism
Posted on my Facebook on January 7th, 2021, links and image added August 23rd, 2021. Image via CNN. I'd moved most of my political content to Twitter mostly so y'all would have less politics to deal with when you just want to see how your friends and family are doing over the holidays. Plus, I… Continue reading The Capitol Riots
As I see it, the main cause was systemic, namely the securitization of mortgages (e.g., CDOs). This means mortgages being repackaged by lenders and resold to other investors who wanted the income from the monthly payments. This was first done in 1970 by the Government National Mortgage Association (GNMA or Ginnie Mae), but securitization didn’t really start taking… Continue reading The Causes of the Financial Crisis
There are three prevailing theories: 1) insurance 2) political pressure 3) market pressure. Regarding the first theory, Fed chair Jerome Powell may be trying to pull off what Greenspan did in 1995 and 1998. Powell has characterized both the rate cut in July and the most recent one in September as “insurance.” What he means… Continue reading Why Did the Fed Lower Interest Rates If the U.S. Economy Is Doing Well?
The fiscal authority is Congress (along with the president), which passes budgets regarding federal taxation and expenditures. In economics, these types of actions are called fiscal policy, which means Congress is the fiscal authority. Tax cuts and increased spending can stimulate an economy to fight unemployment, and the opposite actions can cool it down to… Continue reading What Does It Mean When “The Monetary Authority Is Financing the Fiscal Authority”?
(image via The Democracy Labs) One idea is to reform corporate governance away from focusing narrowly on shareholder interests and instead take into account the interests of broader stakeholders. As defined here, stakeholders are “any third party that has some level of dependence upon the corporation” and can include employees, customers, suppliers, and the larger… Continue reading What Do You Think Is the Best Way to Improve Corporate Behavior So as to Prevent Things Like the Opioid Crisis?
Image from goodreads.com I consider All the Devils Are Here to be the best book on the financial crisis I have read so far, edging out Nouriel Roubini's Crisis Economics and significantly better than Michael Lewis's excellent Big Short. Roubini excels more at explaining more of the economics in systemic big-picture terms and also laying… Continue reading Review of All the Devils Are Here
In regards to the big Supreme Court decision on Romneycare Obamacare, there's been much hand-wringing on how this is a tax on doing nothing. This does seem odd, until you realize that a penalty or tax on one group but not on a second group is economically identical to having no penalty or tax on the first group but a tax credit… Continue reading The Economics Behind the Individual Mandate