Tag Archives: Featured Stories

TANSTAAFL. There Ain’t No Such Thing as a Free Lunch. Someone pays, somehow. The standard textbook example is pilots who refill their plane at a gas station that offers them a “free” steak dinner while charging five cents a gallon more than another station at the same airport. The pilot and co-pilot get $50 dinners for free, the gas station gets an “extra” $150 for the gas sold, and everyone is happy. I believe this story is better at...

This is the Big Story: a 100+ year near-record decline in commodity prices is enabling continued record wage growth and employment  – by New Deal democrat No important economic data today, so let me elaborate on the matter of “immaculate disinflation,” i.e., the decline in inflation without a decline in growth. I’m going to argue that, to the extent there is causation, it is the reverse of what is generally assumed, to wit: that there is...

This is the Big Story: a 100+ year near-record decline in commodity prices is enabling continued record wage growth and employment  – by New Deal democrat No important economic data today, so let me elaborate on the matter of “immaculate disinflation,” i.e., the decline in inflation without a decline in growth. I’m going to argue that, to the extent there is causation, it is the reverse of what is generally assumed, to wit: that there is...

Of late, Mr. Trump’s defense lawyer, John Lauro, has been making rounds of the TV News shows. All with a purpose, of course. Turns out that Mr. Lauro wants to defend Mr. Trump not against the charges of the recent indictment accusing Mr. Trump of conspiring to subvert American democracy but against other, different things that aren’t charged; aren’t in the indictment; and, to do so in the court of public opinion rather a court of law. If the facts...

According to this WaPo article, the average physician in the US earns $350K/yr. I didn’t click through to the actual data, but from the first table, I’m guessing that “average” means median, not mean. And physician income isn’t a Gaussian distribution—there’s a long right-hand tail for the specialties.Why is this? It looks to me like supply-and-demand is a big factor. Despite the fact that allopathic and osteopathic medical schools have expanded...

According to this WaPo article, the average physician in the US earns $350K/yr. I didn’t click through to the actual data, but from the first table, I’m guessing that “average” means median, not mean. And physician income isn’t a Gaussian distribution—there’s a long right-hand tail for the specialties.Why is this? It looks to me like supply-and-demand is a big factor. Despite the fact that allopathic and osteopathic medical schools have expanded...

How long until the historically tight jobs market reverts to trend?  – by New Deal democrat There are some very unusual cross-currents going on in the housing sector, revealed by yesterday’s existing home sales report. But it will take some time-intensive organization to present it to you, so I’m saving it for (hopefully) Monday. In the meantime, let’s take another look at the job market and how it compares with consumer spending. One of...

How long until the historically tight jobs market reverts to trend?  – by New Deal democrat There are some very unusual cross-currents going on in the housing sector, revealed by yesterday’s existing home sales report. But it will take some time-intensive organization to present it to you, so I’m saving it for (hopefully) Monday. In the meantime, let’s take another look at the job market and how it compares with consumer spending. One of...

Per the Heritage Foundation (Heritage), each year, American civilians use firearms defensively between 500,000 and 3 million times. Which is saying that they have been exercising their relatively newly lawful Second Amendment Right to bear arms for the purpose of self-defense a lot. Further research might indicate that the number is well below 700,000 (might even be as low as 11). As Heritage does make note, there is no way of really knowing. After...

Per the Heritage Foundation (Heritage), each year, American civilians use firearms defensively between 500,000 and 3 million times. Which is saying that they have been exercising their relatively newly lawful Second Amendment Right to bear arms for the purpose of self-defense a lot. Further research might indicate that the number is well below 700,000 (might even be as low as 11). As Heritage does make note, there is no way of really knowing. After...