I got a laugh reading this one from the CBO (Link). The cost of the review of ethanol is a measly $1m. Why has it taken so many years to have this study? More importantly, what happens if this study shows that ethanol is … [Continue reading]
Sunday, April 21, 2013
“Econogate” and Japan
How about Reinhart-Rogoff? A couple of Bozos. These two Harvard economists have set back the debate on debt/deficits and the relationship to economic performance by years. In 2009 there was “Climategate”, where scientists who … [Continue reading]
Saturday, April 13, 2013
The Scariest 50 Hours
There was a four year stretch where I was responsible for big currency spec positions. I was regularly over a billion dollars long short in either USDJPY or USDDM (this was before the Euro). This happened many years ago. I don't things are … [Continue reading]
Friday, April 12, 2013
America Fast Forward – In Reverse
The following is a wonkish discussion of one aspect of the White House budget. The President's budget will never see the light of day, but I think it is instructive to look at this component of the plan, and expose it for what it is - A … [Continue reading]
Tuesday, April 9, 2013
Japan at War
My daughter called last night, she's made her reservations for a honeymoon in Japan. Six months ago she was leaning on going to Thailand, but the cost of a trip to Japan has fallen so sharply, that she was able to afford the cost of a visit … [Continue reading]
