Archive for the ‘Uncategorized’ Category

Who Caused the Great Depression

November 21, 2018

“Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” – Ben Bernanke



to add

Fault Lines

This time is different

no banks collapsed in canada

Federal law limited brick & mortar branches.  Banks in crop areas instantly went belly up when drought struck due to lack of diversity forced by government.







FDR’s Economics

October 19, 2013

The Economist: Protectionism, The battle of Smoot-Hawley, A cautionary tale about how a protectionist measure opposed by all right-thinking people was passed, Dec 18th 2008

To Do:
Need to add notes from
Forgotten Man
FDR’s Folly

Documenting Hitler’s Political Positions …. and those that loved him

October 11, 2013

First of all, I find the terms left wing / right wing meaningless. So I’ll avoid them. I prefer judging political positions on two scales
1) economic freedom
2) social freedom

Where “freedom” is the the ‘freedom to choose’ and the lack of central planning. A lot of time the only difference between “liberals” and “conservatives” is the preferences du jour of those in power. Those words change meaning over time. What is liberal in 1930 is conservative in 1990. So it’s futile effort to use those labels and expect everyone else to understand what you are trying to say.

A note on the parties name:

Nationalsozialistische Deutsche Arbeiterpartei (National Socialist German Workers’ Party).

Anti-capitalist or anti-free market quotes from Mein Kampf.

November 9, 1918 Fortune upon Fortune!
‘The hour of liberation from the yoke of capitalism has come ‘


When on November 9, 1918, the German people was driven into revolution, it was told that this was the beginning of the ‘nations’ liberation’ from the bonds of * world capitalism.’

On why the Nazi’s picked Red.

The most basic example is the Nazi use of the color red, which was firmly associated with Bolshevism and socialism. “We chose red for our posters after particular and careful deliberation…so as to arouse their attention and tempt them to come to our meetings…so that in this way we got a chance of talking to the people.”

Goldberg, Liberal Fascism

On the Term “Liberal Fascism”

The introduction of a novel term like “liberal fascism” obviously requires an explanation. Many critics will undoubtedly regard it as a crass oxymoron. Actually, however, I am not the first to use the term. That honor falls to H. G. Wells, one of the greatest influences on the progressive mind in the twentieth century (and, it turns out, the inspiration for Huxley’s Brave New World). Nor did Wells coin the phrase as an indictment, but as a badge of honor. Progressives must become “liberal fascists” and “enlightened Nazis,” he told the Young Liberals at Oxford in a speech in July 1932.21 – Goldberg, Liberal Fascism

Item of note…. those that compete for the same voting block are the most intense enemies

On November 22, 1963, John F. Kennedy was assassinated in Dallas, Texas. As if on cue, Dallas was christened “the city of hate.” A young TV reporter named Dan Rather heard a rumor that some Dallas schoolchildren had cheered when they heard the news of Kennedy’s death. The rumor wasn’t true, and the local Dallas CBS affiliate refused to run the story. Rather made an end run around the network and reported the story anyway.

Rather wasn’t the only one eager to point fingers at the right. Within minutes Kennedy’s aides blamed deranged and unnamed right-wingers. One headline proclaimed the assassination had taken place “deep in the hate of Texas.” But when it became clear that a deranged Marxist had done the deed, Kennedy’s defenders were dismayed. “He didn’t even have the satisfaction of being killed for civil rights,” Jackie lamented to Bobby Kennedy when he told her the news. “It’s—it had to be some silly little Communist.”1 – Goldberg, Liberal Fascism

More evidence of Communists being the same base as Nazi’s

The walls were covered with flags, photographs, posters, slogans and emblems. His SA uniforms hung neatly ironed on a hanger…When I said that it must be rather claustrophobic with all that stuff on the walls, he laughed and sat down on the bed, and said: “Mensch! You should have seen it last year! You would have laughed! Then it was all red flags, stars, hammers, sickles, pictures of Lenin and Stalin and Workers of the World Unite!…Then, suddenly when Hitler came to power, I understood it was all nonsense and lies. I realized Adolf was the man for me. All of a sudden!” He snapped his fingers in the air. “And here I am!”…Had a lot of people done the same, then? “Millions! I tell you, I was astonished how easily they all changed sides!”17 -Goldberg, Liberal Facism


    1. track supporters of communism & Nazism in 1930
      Find Goldberg red flag quote
      Competing for same base
      attic that changes from socialism to nazism
      nazi publication book w/ kitchen photo
  • Counterpoint

    This author claims that Hitler is “far right”. I don’t understand that conclusion but I’ll reserve judgement until AFTER I’ve read his work. Preliminary book scan seems to indicate “far right” is Nationalism. So must mean the far left are those that hate their country? I still don’t get it.

    Fritzsche, Peter. Germans into Nazis, Cambridge, Mass.: Harvard University Press, 1998; Eatwell, Roger, Fascism, A History, Viking-Penguin, 1996. pp. xvii-xxiv, 21, 26–31, 114–140, 352.

    Griffin, Roger, “Revolution from the Right: Fascism,” in David Parker, ed., Revolutions and the Revolutionary Tradition in the West 1560-1991, London: Routledge, 2000

    Warren v. District of Columbia (i.e. Cops don’t have to stop rapists)

    December 23, 2012

    In the early morning hours of Sunday, March 16, 1975, Carolyn Warren and Joan Taliaferro who shared a room on the third floor of their rooming house at 1112 Lamont Street Northwest in the District of Columbia, and Miriam Douglas, who shared a room on the second floor with her four-year-old daughter, were asleep. The women were awakened by the sound of the back door being broken down by two men later identified as Marvin Kent and James Morse. The men entered Douglas’ second floor room, where Kent forced Douglas to sodomize him and Morse raped her.

    Warren and Taliaferro heard Douglas’ screams from the floor below. Warren telephoned the police, told the officer on duty that the house was being burglarized, and requested immediate assistance. The department employee told her to remain quiet and assured her that police assistance would be dispatched promptly.

    Warren’s call was received at Metropolitan Police Department Headquarters at 0623 hours, and was recorded as a burglary-in-progress. At 0626, a call was dispatched to officers on the street as a “Code 2” assignment, although calls of a crime in progress should be given priority and designated as “Code 1.” Four police cruisers responded to the broadcast; three to the Lamont Street address and one to another address to investigate a possible suspect. (This suggests that when they heard that there had been a burglary, the police must have felt that they had a promising lead on a culprit.)

    Meanwhile, Warren and Taliaferro crawled from their window onto an adjoining roof and waited for the police to arrive. While there, they observed one policeman drive through the alley behind their house and proceed to the front of the residence without stopping, leaning out the window, or getting out of the car to check the back entrance of the house. A second officer apparently knocked on the door in front of the residence, but left when he received no answer. The three officers departed the scene at 0633, five minutes after they arrived.

    Warren and Taliaferro crawled back inside their room. They again heard Douglas’ continuing screams; again called the police; told the officer that the intruders had entered the home, and requested immediate assistance. Once again, a police officer assured them that help was on the way. This second call was received at 0642 and recorded merely as “investigate the trouble;” it was never dispatched to any police officers.

    Believing the police might be in the house, Warren and Taliaferro called down to Douglas, thereby alerting Kent to their presence. At knife point, Kent and Morse then forced all three women to accompany them to Kent’s apartment. For the next fourteen hours the captive women were raped, robbed, beaten, forced to commit sexual acts upon one another, and made to submit to the sexual demands of Kent and Morse.

    The women sued

    By a 4-3 decision the court decided that Warren was not entitled to remedy at the bar despite the demonstrable abuse and ineptitude on the part of the police because no special relationship existed. The court stated that official police personnel and the government employing them owe no duty to victims of criminal acts and thus are not liable for a failure to provide adequate police protection unless a special relationship exists. The case was properly dismissed by the trial court for failure to state a claim and the case never went to trial.

    Economists For Romney

    November 4, 2012

    Copied and pasted from:


    We enthusiastically endorse Governor Mitt Romney’s economic plan to create jobs and restore economic growth while returning America to its tradition of economic freedom. The plan is based on proven principles: a more contained and less intrusive federal government, a greater reliance on the private sector, a broad expansion of opportunity without government favors for special interests, and respect for the rule of law including the decision-making authority of states and localities.

    Applying these principles, Governor Romney would:

    • Reduce marginal tax rates on business and wage incomes and broaden the tax base to increase investment, jobs, and living standards.
    • End the exploding federal debt by controlling the growth of spending so federal spending does not exceed 20 percent of the economy.
    • Restructure regulation to end “too big to fail,” improve credit availability to entrepreneurs and small businesses, and increase regulatory accountability, and ensure that all regulations pass rigorous benefit-cost tests.
    • Improve our Social Security and Medicare programs by reducing their growth to sustainable levels, ensuring their viability over the long term, and protecting those in or near retirement.
    • Reform our healthcare system to harness market forces and thereby reduce costs and increase quality, empowering patients and doctors, rather than the federal bureaucracy.
    • Promote energy policies that increase domestic production, enlarge the use of all western hemisphere resources, encourage the use of new technologies, end wasteful subsidies, and rely more on market forces and less on government planners.

    In stark contrast, President Obama has failed to advance policies that promote economic and job growth, focusing instead on increasing the size and scope of the federal government, which increases the debt, requires large tax increases, and burdens business with many new financial and health care regulations. The result is an anemic economic recovery and high unemployment. His future plans are to double down on the failed policies, which will only prolong slow growth and high unemployment.

    President Obama has:

    • Relied on short-term “stimulus” programs, which provided little sustainable lift to the economy, and enacted and proposed significant tax increases for all Americans.
    • Offered no plan to reduce federal spending and stop the growth of the debt-to-GDP ratio.
    • Failed to propose Social Security reform and offered a Medicare proposal that relies on a panel of bureaucrats to set prices, quantities, and qualities of healthcare services.
    • Favored a large expansion of economic regulation across many sectors, with little regard for proper cost-benefit analysis and with a disturbing degree of favoritism toward special interests.
    • Enacted health care legislation that centralizes health care decisions and increases the power of the federal bureaucracy to impose one-size-fits-all solutions on patients and doctors, and creates greater incentives for waste.
    • Favored expansion of one-size-fits-all federal rulemaking, with an erosion of the ability of state and local governments to make decisions appropriate for their particular circumstances.

    In sum, Governor Romney’s economic plan is far superior for creating economic growth and jobs than the actions and interventions President Obama has taken or plans to take in the future. This November, voters will make a fundamental choice between differing visions of America’s economic future.

    Signed (affiliations listed for identification purposes only),

    Gary Becker, Nobel laureate
    James Buchanan, Nobel laureate
    Robert Lucas, Nobel laureate
    Robert Mundell, Nobel laureate
    Edward Prescott, Nobel laureate
    Myron Scholes, Nobel laureate

    Burton Abrams, University of Delaware
    James D. Adams, Rensselaer Polytechnic Institute
    Richard Adams, Oregon State University
    Douglas Adie, Ohio University
    Lee C. Adkins, Oklahoma State University
    Richard Agnello, University of Delaware
    James Ahiakpor, California State University, East Bay
    Francis Ahking, University of Connecticut
    William Albrecht, University of Iowa
    Michael J. Alderson, Saint Louis University
    Donald L. Alexander, Western Michigan University
    John W. Allen, Texas A&M University
    William Allen, University of California, Los Angeles
    Fernando Alvarez, University of Chicago
    Wayne Angell, Former Member, Federal Reserve Board
    Joe Antos, American Enterprise Institute
    J. J. Arias, Georgia College
    Richard K. Armey, FreedomWorks
    Nathan Ashby, University of Texas at El Paso
    Christopher Azevedo, University of Central Missouri
    Scott Baier, Clemson University
    Charles Baird, California State University, East Bay
    Eric Baklanoff, The University of Alabama
    Spencer Banzhaf, Georgia State University
    Christopher C. Barnekov, Ph.D., Chicago
    Robert J. Barro, Harvard University
    William Beach, Alexandria, VA
    Howard Beales, George Washington University
    Stacie Beck, University of Delaware
    Larry Belcher, Taylor University
    Don Bellante, University of South Florida
    Bruce Bender, University of Wisconsin-Milwaukee
    Lee Benham, Washington University in St. Louis
    Michael Bennett, Curry College
    Bill Beranek, University of Georgia
    M. Douglas Berg, Sam Houston State University
    Richard Bernstein, Temple University
    Sanjai Bhagat, University of Colorado
    Andrew Biggs, American Enterprise Institute
    Robert Bise, Orange Coast College
    Michael Block, University of Arizona
    Cecil Bohanon, Ball State University
    Michael Bond, University of Arizona
    Carlos Bonilla, Airline Forecasts
    Donald Booth, Chapman University
    G. Geoffrey Booth, Michigan State University
    Karl Borden, University of Nebraska
    Michael Bordo, Rutgers University
    George Borts, Brown Universiy
    Michael Boskin, Stanford University
    Edward H. Boss, Commission on Government Forecasting and Accountability Illinois State Legislature
    John Boyce, University of Calgary
    John Boyd, University of Minnesota
    Edward Boyer, Temple University
    Gordon Brady,
    Daniel Brandt, Chevy Chase, MD
    Ike Brannon, American Action Forum
    David Brat, Randolph-Macon College
    Charles Breeden, Marquette University
    Ivan Brick, Rutgers University
    Alex Brill, American Enterprise Institute
    Roger Brinner, The Parthenon Group
    Wayne T. Brough, FreedomWorks
    James Armistead Brown, Jr., Arlington, VA
    James N. Brown, Rice University
    Jeffrey Brown, University of Illinois, Urbana-Champaign
    David P. Brown, University of Wisconsin, Madison
    Edgar Browning, Texas A&M University
    Eric Brucker, Widener University
    Lawrence Brunner, Central Michigan University
    Peter Brust, University of Tampa
    Phillip Bryson, Brigham Young University
    William K. Buchanan, Valdosta State University
    Todd Buchholz, Sproglit, LLC
    M. Northrup Buechner, St. John’s University
    Van Bullock, New Mexico State University
    Richard Burdekin, Claremont McKenna College
    Richard Burkhauser, Cornell University
    Andrew Busch, BMO Capital Markets
    James Butkiewicz, University of Delaware
    Henry Butler, George Mason University School of Law
    William Butos, Trinity College
    Frank Caliendo, Utah State University
    Charles Calomiris, Columbia University
    Colin Campbell, Dartmouth College
    William Campbell, Louisiana State University
    Robert Carey, Clemson University
    Thomas Cargill, University of Nevada, Reno
    Darcy Carr, Coastal Carolina University
    Kenneth A. Carrow, Indiana University
    James Carter, Vienna, VA
    Mark Castelino, Rutgers Business School
    Gary Caton, Montana State University
    Richard J. Cebula, Jacksonville University
    Dustin Chambers, Salisbury University
    Don Chance, Louisiana State University
    Robert Chatflield, University of Nevada, Las Vegas
    Kenneth Chilton, Lindenwood University
    John Chipman, University of Minnesota
    Barry R. Chiswick, George Washington University
    Lawrence Cima, John Carroll University
    Richard Clarida, Columbia University
    Jim Clark, Wichita State University
    Kenneth Clarkson, University of Miami
    Warren Coats Jr., International Monetary Fund, retired
    John P. Cochran, Metropolitan State University of Denver
    John Cochrane, University of Chicago
    John Cogan, Stanford University
    John Coleman, Duke University
    Boyd Collier, Tarleton State University
    Peter Colwell, University of Illinois, Urbana Champaign
    John Connaughton, University of North Carolina, Charlotte
    Michelle Connolly, Duke University
    Michael Connolly, University of Miami
    Thomas Cooley, New York University
    Cathleen Coolidge, California State University, Chico
    Russell Cooper, Pennsylvania State University
    Kathleen Cooper, Southern Methodist University
    Lee Coppock, University of Virginia
    Bradford Cornell, California Institute of Technology
    Michael Cosgrove, University of Dallas
    Robert Costrell, University of Arkansas
    Jim F. Couch, University of North Alabama
    Joshua Coval, Harvard Business School
    James Cover, University of Alabama
    Ted Covey, McLean, VA
    Eleanor Craig, University of Delaware
    Nicole Crain, Lafayette College
    W. Mark Crain, Lafayette College
    Wayne Crews, Competitive Enterprise Institute
    Thomas D. Crocker, University of Wyoming
    John R. Crooker, University of Central Missouri
    Dean Croushore, University of Richmond
    Mario J. Crucini, Vanderbilt University
    Ward Curran, Trinity College
    David Cushman, Westminster College of PA
    Carl Dahlman, US Department of Defense and RAND Corporation, retired
    Michael Daniels, Columbus State University
    Albert L. Danielsen, University of Georgia
    Larry Dann, University of Oregon
    Minh Dao, Eastern Illinois University
    Michael Darby, UCLA Anderson School
    Ronnie Davis, Florida Institute of Technology
    Steven Davis, University of Chicago
    J. Ronnie Davis, University of New Orleans
    A. Edward Day, University of Central Florida
    Harry DeAngelo, University of Southern California
    Linda DeAngelo, University of Southern California
    Stephen J. DeCanio, University of California, Santa Barbara
    Clarence Deitsch, Ball State University
    Robert Dekle, University of Southern California
    Christopher DeMuth, Hudson Institute
    Harold Demsetz, UCLA
    David B. H. Denoon, New York University
    Joseph DeSalvo, University of South Florida, Tampa
    Allan DeSerpa, Arizona State University
    William Dewald, Ohio State University
    Phoebus Dhrymes, Columbia University
    John Diamond, Rice University
    Arthur M. Diamond, Jr., University of Nebraska at Omaha
    William Dickneider, Palm Springs, CA
    John Dobra, University of Nevada, Reno
    Jeffrey Dorfman, University of Georgia
    William Dougan, Clemson University
    Christopher Douglas, University of Michigan – Flint
    Joseph Duncan, Political and Economic Reserch Council
    Floyd H. Duncan, Virginia Military Institute
    Gerald Dwyer, Dwyer Economics
    Richard Eastin, University of Southern California
    Lanny Ebenstein, University of California, Santa Barbara
    John Eckalbar, California State University, Chico
    Robert Orland Edmister, Bowling Green State University
    Frank Egan, Trinity College
    John Egger, Towson University
    Isaac Ehrlich, State University of New York, Buffalo
    Martin Eichenbaum, Northwestern University
    Kathryn Eickhoff, Eickhoff Economics Inc.
    Jeff Eisenach, American Enterprise Institute
    Charles Elson, University of Delaware
    Elyas Elyasiani, Temple University
    Alain Enthoven, Stanford University
    Stephen Entin, Arlington, VA
    Richard Ericson, East Carolina University
    Dorla Evans, University of Alabama, Huntsville
    James S. Fackler, University of Kentucky
    Dino Falaschetti, Property and Environment Research Center
    Frank Falero, California State University, Bakersfield
    Eugene Fama, University of Chicago
    Dorsey D. Farr, French Wolf & Farr
    W. Ken Farr, Georgia College and State University
    Michael Faulkender, University of Maryland
    Christopher Fawson, Utah State University
    Allen Featherstone, Kansas State University
    Susan Feigenbaum, University of Missouri, St. Louis
    Martin Feldstein, Harvard University
    Paul Feldstein, University of California, Irvine
    David Findlay, Colby College
    Eric Fisher, California Polytechnic State University
    Garry Fleming, Roanoke College
    Christopher Flinn, New York University
    Harold Flint, Montclair State University, retired
    Kristin Forbes, Massachusetts Institute of Technology
    Bill Ford, Federal Reserve Bank of Atlanta, former
    Ralph Frasca, University of Dayton
    Michele Fratianni, Indiana University
    Douglas Frechtling, George Washington University
    Kenneth French, Dartmouth College
    Gary French, Nathan Associates Inc.
    Luke Froeb, Vanderbilt University
    Kenneth C. Froewiss, NYU Stern School of Business
    Diana Furchtgott-Roth, Manhattan Institute for Policy Research
    Esther Gal-Or, University of Pittsburgh
    B. Delworth Gardner, Brigham Young University
    John Garen, University of Kentucky
    Dave Garthoff, The University of Akron
    Dermot Gately, New York University
    James Gatti, University of Vermont
    David Gay, University of Arkansas
    Ted Gayer, Brookings Institution
    Gregory Gelles, Missouri University of Science and Technology
    Aaron Gellman, Northwestern University
    Robert Genetski,
    Moheb Ghali, Western Washington University
    Joseph Giacalone, St. John’s University
    Adam Gifford Jr., California State University
    Ann B. Gillette, Kennesaw State University
    David Gillette, Truman State University
    Peter Gioia, Connecticut Business and Industry Association
    James Giordano, Villanova University
    Micha Gisser, University of New Mexico
    William Glade, University of Texas, Austin, Professor Emeritus
    Fred R. Glahe, University of Colorado, Boulder
    Amy Glass, Texas A&M University
    Frederick Goddard, University of Florida, retired
    Charles Goetz, University of Virginia
    Joao Gomes, University of Pennsylvania
    Rodolfo A. Gonzalez, San Jose State University
    Marvin Goodfriend, Carnegie Mellon University
    Lawrence Goodman, Bergen County, NJ
    John Goodman, National Center for Policy Analysis
    Barry Goodwin, North Carolina State University
    Richard Gordon, Pennsylvania State University
    Eric Graber, University of Maryland University College
    Bob Grady, Cheyenne Capital Fund
    Daniel Graham, Duke University
    J Edward Graham, University of North Carolina, Wilmington
    Phil Gramm, Former U.S. Senator, Texas
    Wendy Gramm, Mercatus Center, retired
    Richard Grant, Lipscomb University
    Philip Graves, University of Colorado, Boulder
    Anthony Greco, University of Louisiana, Lafayette
    William Green, Sam Houston State University
    Steven L. Green, Baylor University
    Kenneth V. Greene, Binghamton University
    John Greenhut, Texas A&M University
    Paul Gregory, University of Houston
    Thomas Gresik, University of Notre Dame
    Rachel Greszler, Bethesda, MD
    Earl Grinols, Baylor University
    Dan Gropper, Auburn University
    Tim Groseclose, University of Southern California
    Edward Guay, Wintonbury Risk Management
    Darrin Gulla, University of Kentucky
    Frank Gunter, Lehigh University, Colonel U.S. Marines, retired
    RW Hafer, Southern Illinois University Edwardsville
    Robert Hagemann, International Monetary Fund, Retired
    Simon Hakim, Temple University
    Dennis Halcoussis, California State University, Northridge
    Brian Hall, Harvard Business School
    Tom Hamilton, University of St. Thomas
    J. Daniel Hammond, Wake Forest University
    Gary Hansen, UCLA
    Jason Hansen, Naval Postgraduate School
    Eric Hanushek, Stanford University
    Stephen Happel, Arizona State University
    Scott Harrington, University of Pennsylvania
    William R. Hart, Miami University
    Joseph Haslag, University of Missouri
    John Haslem, University of Maryland
    Jerome Hass, Johnson School, Cornell University
    Kevin Hassett, American Enterprise Institute
    Janice A. Hauge, University of North Texas
    Arthur Havenner, University of California, Davis
    Joel Hay, University of Southern California
    Ling He, University of Central Arkansas
    Daniel Heath, Georgetown University Law Center
    Gilbert Heebner, Eastern University
    Robert H. Heidt, Indiana University Mauer School of Law
    Scott Hein, Texas Tech University
    Robert Heller, Former Member, Federal Reserve Board
    Robert Helms, American Enterprise Institute
    John Helmuth, University of Michigan – Flint
    Mike Helvacian, New Jersey Institute of Technology
    James Henderson, Baylor University
    Wallace Hendricks, University of Illinois
    Robert Herren, Fargo, North Dakota
    Jesse Hill, Tarrant County College
    Evan Hillebrand, University of Kentucky
    Dana Hoag, Colorado State University
    Robert J. Hodrick, Columbia Business School
    John Hoehn, Michigan State University
    Arlene Holen, Technology Policy Institute
    Douglas Holtz-Eakin, American Action Forum
    Dale Hoover, North Carolina State University
    Thomas Howard, University of Denver
    Glenn Hubbard, Columbia University
    Thomas Hubbard, Northwestern University
    James L. Huffman, Lewis & Clark Law School
    Forrest Huffman, Temple University
    J. Christoper Hughen, University of Denver
    E. Bruce Hutchinson, University of Tennessee, Chattanooga
    Peter Hutchinson, Saint Vincent College
    Ed Ireland, Ed Ireland & Associates, Inc.
    L. Dwight Israelsen, Utah State University
    Austin Jaffe, Pennsylvania State University
    Mark Jamison, University of Florida
    Dennis Jansen, Texas A&M University
    Sherry Jarrell, Wake Forest University
    William P. Jennings, California State University, Northridge
    Gerald Jensen, Northern Illinois University
    D. Bruce Johnsen, George Mason University School of Law
    Dennis Johnson, University of South Dakota
    Douglas Joines, University of Southern California
    Steven L. Jones, Indiana University
    Jerry Jordan, Pacific Academy
    G. Donald Jud, University of North Carolina, Greensboro
    Richard Just, University of Maryland
    Tim Kane, Hudson Institute
    Alexander Katkov, Johnson & Wales University
    Michael Kaylen, University of Missouri
    Benjamin D. Keen, University of Oklahoma
    David Kendall, University of Virginia
    Joe Kennedy, former Chief Economist, Department of Commerce
    Calvin Kent, Marshall University
    Carl Kester, Harvard Business School
    Naveen Khanna, Michigan State University
    Richard Kilmer, University of Florida
    Kent Kimbrough, Duke University
    Don Koch, Federal Reserve Bank of Atlanta, former
    Meir Kohn, Dartmouth College
    Betty Kouo, Caterpillar Inc.
    Melvyn Krauss, Stanford University
    Marie-Josée Kravis, Hudson Institute
    Robert Krol, California State University, Northridge
    Randy Kroszner, University of Chicago
    Anne Krueger, Former World Bank Chief Economist
    Cory Krupp, Duke University
    Penny Kugler, University of Central Missouri
    Ben Kyer, Francis Marion University
    Richard La Near, Missouri Southern State University
    Francis Laatsch, University of Southern Mississippi
    Curt Lacy, University of Georgia
    Arthur Laffer, Laffer Associates
    William Laird, Florida State University
    Deepak Lal, UCLA
    Douglas Lamdin, University of Maryland Baltimore County
    Daniel Landau, University of Connecticut
    William Landes, University of Chicago
    Nicholas Lash, Loyola University Chicago
    Edward Lazear, Stanford University
    Don Leet, California State University, Fresno
    Norman Lefton, Southern Illinois University, Edwardsville
    Kenneth Lehn, University of Pittsburgh
    Carol Leisenring, University of Pennsylvania, retired
    Thomas Lenard, Technology Policy Institute
    David Leonard, Miami University
    Noreen Lephardt, Marquette University
    Adam Lerrick, American Enterprise Institute
    David Lesmond, Tulane University
    Irving Leveson, Leveson Consulting
    Philip Levy, University of Virginia
    Peter Lewin, University of Texas, Dallas
    W. Cris Lewis, Utah State University
    Stan Liebowitz, University of Texas, Dallas
    Dean Lillard, Ohio State University
    Tony Lima, California State University, East Bay
    Hwan Lin, University of North Carolina, Charlotte
    Christopher Lingle, Ph.D. in economics from the University of Georgia
    Jody Lipford, Presbyterian College
    Luis Locay, University of Miami
    Francis Longstaff, UCLA Anderson School
    James R. Lothian, Fordham University
    John Lott, Burke, VA
    Lawrence Lovik, Consultant
    Mark Lund, Luther College
    John Lunn, Hope College
    R. Ashley Lyman, University of Idaho
    Maurice MacDonald, Kansas State University
    Glenn MacDonald, Washington University in St. Louis
    John Makin, American Enterprise Institute
    Keith Malone, University of North Alabama
    David Malpass, Encima Global
    Yuri Maltsev, Carthage College
    Gershon Mandelker, University of Pittsburgh
    Greg Mankiw, Harvard University
    Henry Manne, George Mason University Law School
    Richard L. Manning, Arlington, VA
    Richard D. Marcus, University of Wisconsin, Milwaukee
    Anthony Marino, University of Southern California
    Michael L. Marlow, Cal Poly, San Luis Obispo
    Noralyn Marshall, Risk Management Advisors
    Richard Marston, Wharton School
    Deryl Martin, Tennessee Technological University
    Timothy Mathews, Kennesaw State University
    Aparna Mathur, American Enterprise Institute
    John Matsusaka, University of Southern California
    David Mayers, University of California, Riverside
    Thomas Mayor, University of Houston
    John McArthur, Wofford College
    Bennett McCallum, Carnegie Mellon University
    John J. McConnell, Purdue University
    J. Huston McCulloch, Ohio State University
    John McDowell, Arizona State University
    Martin McGuire, University of California-Irvine
    John McKissick, University of Georgia
    Francis McLaughlin, Boston College
    W. Douglas McMillin, Louisiana State University
    William Megginson, University of Oklahoma
    Roger Meiners, University of Texas at Arlington
    Will Melick, Kenyon College
    Allan Meltzer, Carnegie Mellon University
    Kimberly Mencken, Baylor University
    Enrique Mendoza, University of Maryland
    Stephen Mennemeyer, University of Alabama at Birmingham
    John Merrifield, University of Texas-San Antonio
    Jim Mietus, Office of Management and Budget, retired
    Todd Milbourn, Washington University in St. Louis
    Tom Miller, American Enterprise Institute
    Geoffrey Miller, New York University
    James D. Miller, Smith College
    Jim Miller, OMB Director 1985-1988
    Jon Miller,
    Dan Miller, Arlington, VA
    Mario Miranda, Ohio State University
    Jeffrey Miron, Harvard University
    Ed Miseta, Pennsylvania State University
    James Moncur, University of Hawaii at Manoa
    Wilbur Monroe, US Treasury Department, retired
    Michael Montgomery, University of Maine
    Velma Montoya, University of California
    Ron Moomaw, Oklahoma State University
    John C. Moorhouse, Wake Forest University
    Paul Morgan, Westmont College
    Barry Morris, University of North Alabama
    Steve Morse, University of Tennessee
    Tim Muris, George Mason University
    John E. Murray, Rhodes College
    Frank Murray, University of Minnesota
    David B. Mustard, University of Georgia
    Richard F. Muth, Emory University
    Steven Myers, University of Akron
    Paula Nas, University of Michigan-Flint
    George Neumann, University of Iowa
    Robert Newman, Louisiana State University
    Robert D. Niehaus, Robert D. Niehaus, Inc.
    Michael Niemira, International Coucil of Shopping Centers, Inc.
    Daniel O’Brien, McLean, VA
    Dave O’Neill, Baruch College
    June O’Neill, Former Director of the Congressional Budget Office
    James B. O’Neill, University of Delaware
    Norman Obst, Michigan State University
    Lee Ohanian, UCLA
    Lydia Ortega, San Jose State University
    Donald Oswald, California State University, Bakersfield
    Walton Padelford, Union University
    Richard Palfin, Economic Analysis
    Joe Parcell, University of Missouri
    Stephen Parente, University of Minnesota
    Randall Parker, East Carolina University
    Donald Parsons, George Washington University
    Douglas Patterson, Virginia Tech
    George G. Pennacchi, University of Illinois at Urbana-Champaign
    Tim Perri, Appalachian State University
    Mark Perry, University of Michigan-Flint, American Enterprise Institute
    Christopher Phelan, University of Minnesota
    Tomas J. Philipson, University of Chicago
    G. Michael Phillips, California State University, Northridge
    Gordon Phillips, University of Southern California
    Charles Phillips, Jr, Washington and Lee University
    Mario Picconi, University of San Diego
    John Pisciotta, Baylor University
    William Poole, Former President, Federal Reserve Bank of St. Louis
    Michael Porter, Harvard University
    Roger Porter, Harvard University
    Barry Poulson, University of Colorado Boulder
    John Powers, The University of Cincinnati
    Robert Premus, Wright State University
    Joseph Prinzinger, Lynchburg College
    R. L. Promboin, University of Maryland University College
    Stephen Pruitt, University of Missouri, Kansas City
    Richard W. Rahn, Institute for Global Economic Growth
    Garey Ramey, University of California, San Diego
    Valerie Ramey, University of California, San Diego
    James Ramsey, New York University
    David Ranson, H.C. Wainwright & Co. Economics Inc.
    Brian Reardon, Venn Strategies, LLC
    James Refalo, California State University, Los Angeles
    Martin Regalia, U.S. Chamber of Commerce
    Ralph Reiland, Robert Morris University
    Jon Reisman, University of Maine at Machias
    Robert Rencher, Liberty University
    Thomas Rhee, California State University, Long Beach
    Mark William Rider, Georgia State University
    Christine Ries, Georgia Institute of Technology
    Mario Rizzo, New York University
    Gary Robbins, Fiscal Associates
    Nancy Roberts, Arizona State University
    Philip Romero, University of Oregon
    David Rose, University of Missouri-St. Louis
    Harvey Rosen, Princeton University
    Joshua Rosett, Claremont McKenna College
    Larry Ross, University of Alaska Anchorage
    Robert Rossana, Wayne State University
    Louis F. Rossiter, The College of William and Mary
    Timothy Roth, University of Texas at El Paso
    James Roumasset, University of Hawaii
    Charles Rowley, George Mason University
    Paul Rubin, Emory University
    John Ruggiero, University of Dayton
    Philip Jay Rushing, University of Illinois
    Nathan Russell, Patrick Henry College
    Thomas C. Rustici, George Mason University
    John Rutledge, Claremont Graduate University
    Don Sabbarese, Kennesaw State University
    Anthony Sanders, George Mason University
    Jonathan Sandy, University of San Diego
    Gary Santoni, Ball State University
    Atulya Sarin, Santa Clara University
    Eric A. Sartell, Whitworth University
    Raymond Sauer, Clemson University
    Robert Sauer, University of Bristol
    Jennifer Savage, Orange Coast College
    E.S. Savas, Baruch College/CUNY
    Thomas Schaap, Bellsouth Corporation
    Jim Schallheim, University of Utah
    Michael Schuyler, Arlington, VA
    Loren Scott, Louisiana State University
    John Seater, North Carolina State University
    Roger Sedjo, Resources for the Future
    Robert Seeley, Wilkes University
    Richard Selden, University of Virginia
    Barry Seldon, Florida State University
    David Shaffer, Villanova University
    Sol S. Shalit, University of Wisconsin, Milwaukee
    Alan Shapiro, University of Southern California
    Tim Sheesley, Xcel Energy
    Steven Sheffrin, Tulane University
    Gary L. Shelley, East Tennessee State University
    Judy Shelton, Atlas Economic Research Foundation
    Ann Sherman, DePaul University
    George Shultz, Former Secretary of the Treasury
    Werner Sichel, Western Michigan University
    Laurence Siegel, Chartered Financial Analyst Institute
    Don Siegel, University at Albany, SUNY
    Jonathan Silberman, Oakland University
    Jay Edward Simkin, The Stratecon Group LLC
    Andrei Simonov, Michigan State University
    Evangelos Otto Simos, University of New Hampshire
    Eric Sims, University of Notre Dame
    Neil Skaggs, Illinois State University
    Chuck Skipton, University of Tampa
    Timothy F. Slaper, Indiana Business Research Center
    Scott Smart, Indiana University
    Amy Smith, Arlington, VA
    Janet Kiholm Smith, Claremont McKenna College
    James F. Smith, EconForecaster, LLC
    Richard L. Smith, University of California, Riverside
    Donald Snyder, Utah State University
    Douglas Southgate, Ohio State University
    Lawrence Southwick, University at Buffalo
    Chester Spatt, Carnegie Mellon University
    David Spencer, Brigham Young University
    Peter Sperry, Woodbridge, VA
    Frank Spreng, McKendree University
    Stan Spurlock, Mississippi State University
    Michael Staten, University of Arizona
    Robert Stauffer, Roanoke College
    Craig Stephenson, Babson College
    Derek Stimel, Menlo College
    Thomas Stoker, MIT
    Joe Stone, University of Oregon
    Avanidhar Subrahmanyam, UCLA
    Gerry Suchanek , University of Iowa
    Daniel Sumner, University of California, Davis
    Shirley Svorny, California State University, Northridge
    Phillip Swagel, University of Maryland
    Joseph Swanson, Northwestern University
    Richard Sweeney, Georgetown University
    Moshe Syrquin, University of Miami
    Robert Tamura, Clemson University
    T. Craig Tapley, University of Florida
    Jason Taylor, Central Michigan University
    John Taylor, Stanford University
    Paul Taylor, Vienna, VA
    Rebecca Thacker, Ohio University
    Teresa Tharp, Valencia College
    Stephen Thode, Lehigh University
    Shawn Thomas, University of Pittsburgh
    Henry Thompson, Auburn University
    James Thornton, Eastern Michigan University
    William Thralls, Johnson & Wales University
    Walter Thurman, North Carolina State University
    Jerry Thursby, Georgia Institute of Technology
    Stephen A. Tolbert, Montgomery County Community College (PA)
    Robert D. Tollison, Clemson University
    Dang Tran, California State University, Los Angeles
    Richard Trethewey, Kenyon College
    Charles Trzcinka, Indiana University, Bloomington
    K.C. Tseng, California State University, Fresno
    George P. Tsetsekos, Drexel University
    David G. Tuerck, Suffolk University
    Roger Tutterow, Mercer Univiersity
    A. Sinan Unur, Cornell University
    Kamal Upadhyaya, University of New Haven
    Charles Upton, Kent State University
    T. Norman Van Cott, Ball State University
    Larry Van Horn, Vanderbilt University
    James VanderHoff, Rutgers University-Newark
    David VanHoose, Baylor University
    Karen Vaughn, George Mason University
    Richard Vedder, Ohio University
    George Viksnins, Georgetown University
    J. Antonio Villamil, St. Thomas University
    John Volpe, Catholic University of America
    Richard Wagner, George Mason University
    Donald Walker, Indiana University of PA
    Ralph Walkling, Drexel University
    Sherri Wall, University of Alaska Fairbanks
    William Walstad, University of Nebraska, Lincoln
    Ronald Ward, University of Florida
    John Warner, Clemson University
    Kevin Warsh, Stanford University
    Mark Warshawsky, Social Security Advisory Board
    Alan Rufus Waters, California State University, Fresno
    Robert Weaver, Pennsylvania State University
    Bruce Webb, Gordon College
    Leon L. Wegge, University of California, Davis
    Murray Weidenbaum, Washington University in St. Louis
    Andrew Weintraub, Temple University
    Walter Wessels, North Carolina State University
    Robert Whaples, Wake Forest University
    James Whitaker, Centreville, VA
    J. Gregg Whittaker, William Jewell College
    Steven Wiggins, Texas A&M University
    Michael E. Williams, University of Denver
    Gary Williams, Texas A&M University
    Paul Wilson, Clemson University
    Wayne Winegarden, Arduin, Laffer & Moore Econometrics
    Paul Winfree, Arlington, VA
    Michael Wohlgenant, North Carolina State University
    Charles Wolf, Hoover Institution
    Gary Wolfram, Hillsdale College
    Jeffrey Wrase, Washington, DC
    Gene Wunder, Washburn University
    Colin Wright, Claremont Mckenna College
    Steve B. Wyatt, Miami University
    Frank Wykoff, Pomonoa College
    Tetsuji Yamada, Rutgers University
    Yong Yang, Ford Motor Company
    DeVon Yoho, Ball State University
    Nancy Yonge, Center for American Strength
    Mokhlis Zaki, Northern Michigan University
    John Zdanowicz, Florida International University
    Kate Zhou, University of Hawaii
    Jerry Zimmerman, Univeristy of Rochester
    Robert Zoellick, Former President of the World Bank
    Benjamin Zycher, American Enterprise Institute

    Milton Friedman and Phil Donahue talk Greed

    October 21, 2012

    Video Caption

    In his book “Capitalism and Freedom” (1962) Milton Friedman (1912-2006) advocated minimizing the role of government in a free market as a means of creating political and social freedom.

    An excerpt from an interview with Phil Donahue in 1979.

    2008 presidential election by income

    August 14, 2012


    Democrats have the lead in the < $50 and > $200k

    Taxprof: October 5, 2009  For Whom Do The 47% Who Pay No Income Tax Vote?

    Statistics on Dating and Marriage…

    May 1, 2012

    30 stats:

    81 percent of women and 71 percent of men have been married by age 30

    From wikipedia:

    In the past, single women over the age of 25 were sometimes referred to in Japan as a “Christmas cake”[2] based on the belief that just as a Christmas cake is worthless after December 25, single women become nearly worthless after the age of 25.


    • Better left on the shelf than a downtrodden wife?, KAORI SHOJI, Thursday, June 2, 2005, ,

    Decibels from Gunpowder & Tinnitus Prevention

    March 30, 2012

    Executive summary:

    1. Hearing loss is a significant problem in the shooting sports
    2. Double up with ear plugs and muffs
    3. Get the highest noise reduction rating (NRR) rating you can that’s comfortable. NRR 33 muffs and ear plugs are available. A NRR difference of 6 means double the measurable protection.
    4. Ear plugs must be rolled very thin before inserted and allowed to expand for a tight seal or they won’t work. Skull screws are the exception to this rule.
    5. Avoid ported barrels and brakes. These dramatically increase the sound levels.
    6. Indoor shooting ranges magnify sound levels
    7. Spoggles (safety googles w/ straps) are good for your ears, Traditional temple arms break the seal on ear muffs
    8. Suppressors are the only tool that will bring firearm noises below the OSHA maximum permissible level of 115 decibels which has a federally regulated maximum time of only 15 minutes.

    Supporting Data & Analysis:

    According to Dr. William Clark, Ph.D. senior research scientist in charge of the NOISE LABORATORY at the Central Institute for the Deaf in St. Louis, the damage caused by one shot from a .357 magnum pistol, which can expose a shooter to 165 dB for 2msec, is equivalent to over 40 hours in a noisy workplace. Dr. Krammer, Ph.D., Ball State University, Muncie, Indiana has documented the following pressure levels.1


    20 Gauge 28″ barrel 152.50dB
    20 Gauge 22″ barrel 154.75dB
    12 Gauge 28″ barrel 151.50dB
    12 Gauge 26″ barrel 156.10dB
    12 Gauge 18″ barrel 161.50dB


    .22LR (in a pistol) 152 dB1
    9mm 159.8 dB
    .40 ????
    .45 ACP 157.0 dB
    .357 Magnum 164.3 dB
    .38 Special 156.3 dB


    .30-06 158.5dB
    .30-06 163.2dB
    .223, 55GR. Commercial load 18″ barrel 155.5db
    .375 18″ barrel with muzzle brake 170 dB

    OSHA’s regulation of industrial noise exposure

    85-90dB 8 hours Lawn mower, Disco dance music, Shop tools,
    Truck traffic, Noisy restaurant
    100dB 2 hours Pneumatic drill, Chainsaw
    110 dB Woodworking shop
    115dB 15 minutes Sandblasting

    The best hearing protection:

    Cheap Ear Muffs – 33 NRR!

    Safe (aware of surroundings) ear muffs – MAKE SURE THEY ARE 33 NRR!

    Ear muff friendly safety glasses

    The elastic band ensures ear muffs have a tight seal.

    • Uvex Spoggles
    • WileyX
    • 3M Enhanced Maxim 2 x 2 Goggles

    Don’t believe the above? Sound Level Meters available via Amazon.

    Who Caused the 2008 Economic Crisis

    March 7, 2012

    Also known as the 2nd Great Contraction….

    Jeff Miron @ Harvard From 2:03 on…

    “The 3rd myth is that capitalism was responsible for the recent financial crisis and the recession. That gain is almost exactly oposite of what is true. First of all, Nobody who is being intellectually honest thinks we had unbridaled serious capitalism before the economic crisis hit, before the subprime buildup occurred, before we had all the housing problems. We had enormous government interventions that subsidized risk. Enormous government interventions that encouraged over investment in housing. If one was going to draw any conclusions it seems to suggest much more clearly that interfering with capitalism generates financial crisis generates recessions. Because what we experienced was directly related to the incentives for excessive risk taking, incentives for over investment in housing that were created by government.

    The private sector responded to those incentives so of course the the private sector can not be completely be absolved of involved, but as for causing it was the bad policies that caused it not what the private sector or capitalism did on it’s own.

    Most importantly whenever government bail out people who took excessive risk they encourage more of that in the future. And we unfortunately went a huge way in that direction by the tarp and the federal reserve policies which helped Wall Street and all the risk takers not have to pay the true price for all the excessive risk taking they engaged in.


    Pre-Debate Poll Results
    42% For | 30% Against | 28%
    Post Debate Poll Results
    60% For | 31% Against | 9%

    Niall Ferguson @ Harvard

    to do…..

    (dictating work is in progress) Ladies and gentlement … NOthing would be easier than to blame everything on the banksers. Compensation was 72 million dollars the year before his firm collapsed … never to be seen again. Not only were the bankers greedy .. we would agree… they were also incompetent. But I and my colleges …. but we blame the politicians more. Who was playing the music. It’s so easy to heap approbriam on wallstreet now. That’s exactly what the politicians do. Only yesterday he was denouncing the wrecklessness and greed. FDR in his inaugural address he scorned. Ladies and gentelemnt you have to ask yourself. Could it just possibly be that they are trying to divert our intentions. Role of 4 institutions and their locations

    1st federal reserve board allow housing bubble inflate and burst. Fed cut federal funds rate 6.5% to 1%. In that time house price inflation rose from 7% to 17% and stayed above 15% right about 2006. Ben Bernacke claimed this as the great moderation. yest that

    2nd institution was the securities and exchange commision. Leverage 12:1 to 20-30:1 and that was a conscous decision by the SEC. The location 100 F street north west washington D.C..

    3rd suspect was Congress. They failed to supervise fannie mae and freddie mac. Those two essential institutions that underpinned. Core capital 83 billion and supported 5.2 trillion dollars. Leveraged 65:1. Location of congress is capital hill washington D.C.

    Location of the white house. You know the white house played an extremely important role in creating the subprime mortgage disaster. “We want everyone in america to own their own home” declared President George W. Bush. in October of 2002 Everybody in America. He challenged lenders to create 5.5 million new minority home owners by the end of the decade. He assigned the american dream down payment act in 2003. No presidental pressure, no subprime debacal. Washington sold itself to wallstreet and I fear is very much in hock to it.

    John Steele Gordon

    to do…..

    Nouriel Roubini @ NY Stern

    to do…..

    Raghuram Rajan @ Chicago Booth

    sent a clear message to bankers: “Don’t bother storing cash or marketable assets for a rainy day; we will be there to help you.” Not only did the Fed reduce the profitability of taking precautions, but it implicitly encouraged bankers to borrow short-term while making long-term loans, confident the Fed would be there if funding dried up. Leverage built up throughout the system.


    Walter Bagehot, was fond of saying, “John Bull can stand many things but he can’t stand 2 percent.” Similarly, John Doe cannot stand interest rates near zero, and when the Fed pushes short rates very low, especially when deflation is not a clear and present danger but just a possibility, savers move to holding riskier assets, pushing all manner of risk premiums down and prices up.


    Finally, equity markets were not entirely unaware of the risks. From the second quarter of 2005 to the second quarter of 2007, the two-year implied volatility of S&P 500 options prices—the market’s expectations of the volatility of share prices two years ahead—was 30 to 40 percent higher than the short-term onemonth volatility.23 This figure suggests that the market expected the seeming calm would end, even though the high level of the market indicated it did not place a high probability on events turning out badly for shareholders. But this is precisely how we would expect the market to behave if it believed the banks were taking on subsidized tail risk.


    bet this offered employees was known variously as the Acapulco Play, IBG (I’ll be gone if it doesn’t work), and, in Chicago, the O’Hare Option (buy a ticket departing from O’Hare International Airport: if the strategy fails, use it; if the strategy succeeds, tear up the ticket and return to the office).

    Rajan, Raghuram G. (2011-08-28). Fault Lines: How Hidden Fractures Still Threaten the World Economy (New in Paper) (Kindle Locations 3410-3412). Princeton University Press. Kindle Edition.