I don’t get all the celebrations over cutting fraud and waste.

Don’t complain if you don’t get your SS payment. Be like his 94 year old mother-in-law.

In her book The March of Folly: From Troy to Vietnam, the historian Barbara Tuchman explores the perplexing question of why countries sometimes pursue policies that are fundamentally contrary to their own interests. That question has acquired renewed relevance as Europe has now enlisted in a deepening march of folly over Ukraine. Failure to reject […]

This passage suggests to me that, in economics, one cannot expect to find event regularities from surface level data: "The really important difference between us and our natural science colleagues is illustrated by the fact that we never reach down to constants like the speed of light and of sound in a particular medium, or the specific weights of atoms and molecules. We have nothing corresponding to the universally valid measurements of energy, voltage, amperes, and so on. The...

He’s done amazing in the private sector but his economic understanding is a disease.

There aren’t words to describe how economically stupid this guy is. 

Comical explanation that shows he doesn’t understand. 

 For the record. From an Austrian economist.AbstractThis paper analyzes the debt monetization proposals of Modern Monetary Theory from an Austrian structure of production perspective. It shows that this policy raises societal time preferences and reduces the number of higher order stages in the economy, leading to a higher interest rate, lower economic growth, and increased prices of consumer goods. In order to demonstrate this, it goes back to the basics and investigates the nature of...

There is no way there are millions and millions of people over 120 years old receiving Social Security benefits. That is a lie. 

Today (Thursday), the Office for National Statistics published its monthly set of employment stats. While its Labour Force Survey has been under the cosh for some time for unreliability, the ONS’s data on average wage rates and changes retain their importance. The data – this time for January 2025 – covers average total pay, regular pay and bonus pay for the whole workforce. It also provides average wage data by broad sector.The ONS also publishes its estimate of ‘real pay’ after taking...