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Note to Washington: You Cannot Separate Human Psychology from Economics

September 23, 2010 By 2 Comments
Predictably Irrational Book

The Huffington Post is talking about Obama's handling of the economy and the world view of his economic advisers now that Larry Summers is resigning. Those policies -- the bailout of Detroit automakers, an $814 billion stimulus package, subsequent programs under TARP, Cash for Clunkers and the administration's unlimited backstop of Fannie Mae and Freddie Mac -- arguably saved an economy that many considered to be on the verge of collapse. But while the recession officially ended last year, … [Read more...]

Filed Under: Economics Tagged With: , , , , , , , , ,

If You Have Credit Card Debt, The Credit Card Accountability Responsibility and Disclosure Act of 2009 Should Make Your Life Better

September 22, 2010 By Leave a Comment
Credit Card Debt Accountability Act Bill of Rights

The Credit Card Accountability Responsibility and Disclosure Act of 2009, or the credit card reform act as it is called in the news, was passed more than a year ago.  This is a case of the middle class getting a huge break that most of them won't even realize but, in the future, it will save them massive amounts of money if they have any credit card debt. The bill was originally introduced the year prior as the Credit Cardholders' Bill of Rights by Representative Carolyn Maloney, who is the … [Read more...]

Filed Under: Credit Card Debt Tagged With: ,

Seriously, People, the 9th Amendment to the United States Constitution Does Exist!

September 11, 2010 By Leave a Comment

I was reading a political forum tonight - this one happened to be for far right wing activists - and I was astounded that the usual chorus of "show me in the constitution where that right exists" was especially loud.  Just so I can get it out of my system, please let me remind everyone that the constitution itself specifically states in Article IX that NOT all constitutional rights are listed in the constitution and that by listing some (e.g., religion, guns, etc.) it in no way takes away from … [Read more...]

Filed Under: Politics, Religion & Culture Tagged With: ,

Oh, Rush … Really?

August 12, 2010 By Leave a Comment
Rush Limbaugh

I was listening to Rush Limbaugh and during part of the show he said there is going to be a massive backlash this November against Democrats over the Perry v. Schwarzenegger ruling because of the "judicial activism" of Judge Walker. Uh ... wait... what?! How are the Republicans going to blame the Democrats for this when it was President Reagan who tried to put Walker on the bench and couldn't get it done because he was so conservative that Nancy Pelosi did almost everything she could to … [Read more...]

Filed Under: Politics, Religion & Culture Tagged With: , ,

One Very, Very Good Thing About the Financial Reform Bill That Just Passed Congress

July 16, 2010 By Leave a Comment
Derivatives Trading Office

I don't care what anyone tells you, I want you to listen to me very, very carefully: Although I cannot give an opinion on the financial reform act that just passed Congress because I haven't read it yet, I can say that the provision that requires all derivatives other than those used for "commercial purposes" to be traded on a regulated exchange is absolutely, positively, 100% required if we have any hope of avoiding a collapse like we had following the failure of Lehman Brothers. I realize, … [Read more...]

Filed Under: In the News, Stock Options Tagged With: , , , , ,

Is There a Separation of Church and State in the United States?

July 8, 2010 By Leave a Comment
Separation of Church and State

A friend from college and I have been discussing whether the separation of church and state is what the founders intended and whether it is a good or bad thing for society.  After a few years of studying the issue, here are my conclusions.  I'll keep it as brief as I can. I despise intellectual dishonesty more than almost anything else. The simplest definition of intellectual dishonesty is when someone knowingly excludes information or data that would hurt his or her own point of view … [Read more...]

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New Jersey Battles Over Millionaire Tax

June 20, 2010 By 3 Comments
New Jersey Governor's Mansion

Think about all the income I earn and my businesses earn.  The sales and profits that are generated 24 hours a day, 7 days a week, 365 days a year.  Guess what?  The taxable income could have belonged to the state of New Jersey.  However, the cost of living, driven in part by the state tax rates, were too high for my liking so I left after roughly five years. Now, the New Jersey legislature wants to pass a tax that will hit 16,000 millionaires by taking 10.75% of their income above $1 … [Read more...]

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Sugar Prices Hit 30 Year Highs

May 14, 2010 By Leave a Comment
Imperial Sugar

I spent the evening reading through the annual report and SEC filings of Imperial Sugar on the iPad listening to the river outside with the windows open. (That would be an article in and of itself - the company had a huge explosion in 2008 at one of its sugar refineries, killing several employees and injuring dozens more.  The insurance proceeds have been paid and they rebuilt a state-of-the-art facility that is just now gearing up for full production.  Yet, they are off hedge accounting, … [Read more...]

Filed Under: Commodities Tagged With: , , , , , , , , , , , ,

Health Care Reform Taxes Will Hit Top 1% of Households

March 23, 2010 By 5 Comments
Rich Uncle Penny Bags, aka the Monopoly Man, now has to pay Medicare taxes on dividends, interest, and real estate rental income.

I don't think there is any reasonable chance health care will be overturned as unconstitutional because it is written in such a way that you aren't technically required to buy health insurance, you will just be subject to a special excise tax if you don't. A lot of very, very expensive lawyers made sure the language would stand up to a challenge.  That may seem like a small distinction but it has the effect of requiring everyone to do it through an incentive system and doesn't actually … [Read more...]

Filed Under: Politics, Religion & Culture, Taxes Tagged With: , , , , , , , , , , , , ,

Do the Civilization a Favor and Watch This

March 20, 2010 By Leave a Comment

God, please. Please, God. Make it stop. Please. Seriously. Opposing the current health care bill that is in Congress is a perfectly rational position if you can state your reasons and back them up with facts and analysis.  Being unable to explain why, or what is actually in the bill, is inexcusable.  The fact that people like this can vote hurts my head. You know, it brings up a point a friend of mine once made: There are not more stupid people in the world today than there were 100 … [Read more...]

Filed Under: Politics, Religion & Culture Tagged With: , ,
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