tag:blogger.com,1999:blog-41692654879698784692012-02-13T11:10:04.349-05:00Mayfield's Economics BlogEconomics, as a branch of the more general theory of human action, deals with all human action, i.e., with mans purposive aiming at the attainment of ends chosen, whatever these ends may be.--Ludwig von MisesMayfieldnoreply@blogger.comBlogger35751100tag:blogger.com,1999:blog-4169265487969878469.post-79174333822168359442012-02-13T11:08:00.001-05:002012-02-13T11:10:04.354-05:00National Debt<a href="http://1.bp.blogspot.com/-tWDH8oaiNv4/Tzk1k_aeOhI/AAAAAAAAGok/srvcWSFBqJE/s1600/12-02-13_US_debt1.png"><img id="BLOGGER_PHOTO_ID_5708652912282843666" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 278px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-tWDH8oaiNv4/Tzk1k_aeOhI/AAAAAAAAGok/srvcWSFBqJE/s400/12-02-13_US_debt1.png" border="0" /></a><br /><br /><div>Back in the old days, the only time the nation would rack up debt was when they were at war and then they’d pay it down...All that changed not long after the last vestiges of a gold standard were abandoned in the 1970s and it’s been a three-decade long climb up debt mountain ever since. Moreover, since the graphic above includes only public debt, the picture is significantly worse when including intergovernmental liabilities such as social security.</div><br /><div></div><br /><div><a href="http://timiacono.com/index.php/2012/02/13/a-different-perspective-on-long-term-debt/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7917433382216835944?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-39800458663859316432012-02-13T10:47:00.001-05:002012-02-13T10:49:33.302-05:00Trade at All Time High<a href="http://3.bp.blogspot.com/-u8c6ikkZFvU/Tzkw1P3z8_I/AAAAAAAAGoY/3dJJUi7jYZQ/s1600/trade11.jpg"><img id="BLOGGER_PHOTO_ID_5708647694020637682" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 285px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-u8c6ikkZFvU/Tzkw1P3z8_I/AAAAAAAAGoY/3dJJUi7jYZQ/s400/trade11.jpg" border="0" /></a><br /><br /><div>Total U.S. international trade (exports + imports) set a new record of $4.76 trillion in 2011 (see chart above), as both annual exports ($2.1 trillion) and imports ($2.66 trillion) reached record high levels last year, according to <a href="http://www.bea.gov/newsreleases/international/trade/2012/pdf/trad1211.pdf">today's BEA report</a>.</div><br /><div></div><br /><div><a href="http://mjperry.blogspot.com/2012/02/good-news-us-trade-reaches-record-high.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3980045866385931643?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-80292026081124462282012-02-10T09:26:00.002-05:002012-02-10T09:28:13.178-05:00Mortgage Deal<a href="http://2.bp.blogspot.com/-2vdWf24KYus/TzUpGO5SXtI/AAAAAAAAGoM/pX2r5yfNI8k/s1600/Settlement1.jpg"><img id="BLOGGER_PHOTO_ID_5707513289816301266" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 360px; CURSOR: hand; HEIGHT: 400px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-2vdWf24KYus/TzUpGO5SXtI/AAAAAAAAGoM/pX2r5yfNI8k/s400/Settlement1.jpg" border="0" /></a><br /><br /><br /><div><a href="http://www.ritholtz.com/blog/2012/02/dissecting-the-mortgage-fraud-settlement-agreement/">Source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8029202608112446228?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-11068302557500402832012-02-09T10:47:00.000-05:002012-02-09T10:48:09.663-05:00Cartoon: Taxes<a href="http://3.bp.blogspot.com/-RbUwX5ofZR0/TzPqppADDsI/AAAAAAAAGoA/ghG98QHMePQ/s1600/368019.gif"><img id="BLOGGER_PHOTO_ID_5707163153910140610" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 120px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-RbUwX5ofZR0/TzPqppADDsI/AAAAAAAAGoA/ghG98QHMePQ/s400/368019.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1106830255750040283?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-4913827522299505342012-02-08T12:42:00.000-05:002012-02-08T12:43:00.177-05:00Cartoon: Financial Advisor<a href="http://4.bp.blogspot.com/-cTOH3ZxJxlc/TzKz-IHTYBI/AAAAAAAAGn0/6VKcg-M-d5g/s1600/367935.gif"><img id="BLOGGER_PHOTO_ID_5706821557743214610" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 328px; CURSOR: hand; HEIGHT: 400px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-cTOH3ZxJxlc/TzKz-IHTYBI/AAAAAAAAGn0/6VKcg-M-d5g/s400/367935.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-491382752229950534?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-10145863766676294242012-02-08T10:22:00.001-05:002012-02-08T10:24:56.514-05:00iPhone v Microsoft<a href="http://4.bp.blogspot.com/-90nk3Jxl400/TzKTSIkL3gI/AAAAAAAAGno/7usVG3ldtig/s1600/iphone-vs-microsoft.png"><img id="BLOGGER_PHOTO_ID_5706785617578024450" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 282px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-90nk3Jxl400/TzKTSIkL3gI/AAAAAAAAGno/7usVG3ldtig/s400/iphone-vs-microsoft.png" border="0" /></a><br /><br /><div><a href="http://www.businessinsider.com/iphone-bigger-than-microsoft-2012-2">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1014586376667629424?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-40740737261028704922012-02-06T19:43:00.002-05:002012-02-06T19:44:16.953-05:00Wall Street Likes Romney<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/-UvoY6ZHJD5o/TzBzt17HdMI/AAAAAAAAGnc/x6hgBzYe9Co/s1600/12-02-05_wall_st_romney.jpg"><img style="display: block; margin: 0px auto 10px; text-align: center; cursor: pointer; width: 400px; height: 368px;" src="http://1.bp.blogspot.com/-UvoY6ZHJD5o/TzBzt17HdMI/AAAAAAAAGnc/x6hgBzYe9Co/s400/12-02-05_wall_st_romney.jpg" alt="" id="BLOGGER_PHOTO_ID_5706187959284757698" border="0" /></a><a href="http://money.cnn.com/2012/02/01/news/economy/wall_street_romney/index.htm">source</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4074073726102870492?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-73551116262491798782012-02-03T10:46:00.001-05:002012-02-03T10:48:45.865-05:00Jan Unemployment Rate: 8.3%<a href="http://2.bp.blogspot.com/-ZNPEnYI7LDw/TywBhMezDcI/AAAAAAAAGnQ/MpoNwptLwf4/s1600/12-02-03_jobs.png"><img id="BLOGGER_PHOTO_ID_5704936497769287106" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 281px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-ZNPEnYI7LDw/TywBhMezDcI/AAAAAAAAGnQ/MpoNwptLwf4/s400/12-02-03_jobs.png" border="0" /></a><br /><br /><div>The Labor Department <a href="http://www.bls.gov/news.release/empsit.nr0.htm">reported</a> that nonfarm payrolls rose by 243,000 from December to January and the jobless rate fell from 8.5 percent to 8.3 percent. Private sector job gains of 257,000 were broad based with professional and business services leading the way and the unemployment rate fell to its lowest level since February 2009.</div><br /><div></div><br /><div><a href="http://timiacono.com/index.php/2012/02/03/payrolls-up-243k-jobless-rate-falls-to-8-3/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7355111626249179878?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-33851924736227288992012-02-02T15:02:00.001-05:002012-02-02T15:07:47.221-05:00Bernanke the KeynesianHe answered that clearly during his testimony today, when he said:<br /><br /><br /><blockquote>As is often the case, the ability and willingness of households to spend will be<br />an important determinant of the pace at which the economy expands in coming<br />quarters.</blockquote><br />Only a Keynesian believes that consumption drives the economy rather than production.<br /><br />Consumers are buying iPhones ONLY because Steve Jobs and his team designed and manufactured them. No production, no consumption.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3385192473622728899?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-21871877514711381472012-02-02T14:53:00.001-05:002012-02-02T14:55:27.433-05:00Leading Indicators Revised<a href="http://2.bp.blogspot.com/-z3jhQV6E9Ok/Tyrp0SvEytI/AAAAAAAAGnE/iieZ1Waa9aY/s1600/LEI-old-new-since-1994.gif"><img id="BLOGGER_PHOTO_ID_5704628962609908434" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 291px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-z3jhQV6E9Ok/Tyrp0SvEytI/AAAAAAAAGnE/iieZ1Waa9aY/s400/LEI-old-new-since-1994.gif" border="0" /></a><br /><br /><div><a href="http://advisorperspectives.com/dshort/commentaries/Conference-Board-Leading-Economic-Index-Revisions.php">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2187187751471138147?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-50506235440211618802012-02-01T10:40:00.001-05:002012-02-01T10:42:03.962-05:00US Manufacturing<a href="http://1.bp.blogspot.com/-I0DWM351GI4/TyldIBntv8I/AAAAAAAAGm4/K-XhCOHgrUg/s1600/mfg6.jpg"><img id="BLOGGER_PHOTO_ID_5704192795496792002" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 267px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-I0DWM351GI4/TyldIBntv8I/AAAAAAAAGm4/K-XhCOHgrUg/s400/mfg6.jpg" border="0" /></a><br /><br /><div>The true economic measure of the success of any company or industry is not the number of workers, the amount of output, or the level of sales revenue, it's the level of profitability. Based on that measure, American manufacturing is alive and well, and doing better than ever before. </div><br /><div></div><br /><div><a href="http://mjperry.blogspot.com/2012/01/based-on-profits-manufacturing-is-alive.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5050623544021161880?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-36633918476949966292012-01-31T08:39:00.000-05:002012-01-31T08:40:37.357-05:00Who Pays Better?<a href="http://4.bp.blogspot.com/-joBQO6kmXA4/TyfvIrTIrzI/AAAAAAAAGms/NLYFKEafsRk/s1600/chart-fed-vs-private2_top.gif"><img id="BLOGGER_PHOTO_ID_5703790385428999986" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 156px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-joBQO6kmXA4/TyfvIrTIrzI/AAAAAAAAGms/NLYFKEafsRk/s400/chart-fed-vs-private2_top.gif" border="0" /></a><br /><br /><div><a href="http://money.cnn.com/2012/01/31/news/economy/federal_worker_pay/index.htm?iid=HP_LN">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3663391847694996629?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-87766230039827053932012-01-30T10:54:00.000-05:002012-01-30T10:55:34.226-05:00Interest Rates and Fed Chairmen<a href="http://3.bp.blogspot.com/-JyR3rIjKWNs/Tya9TDg6o0I/AAAAAAAAGmg/IQZS_4SBrk0/s1600/12-01-27_burns_bernanke.png"><img id="BLOGGER_PHOTO_ID_5703454113169843010" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 290px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-JyR3rIjKWNs/Tya9TDg6o0I/AAAAAAAAGmg/IQZS_4SBrk0/s400/12-01-27_burns_bernanke.png" border="0" /></a><br /><br /><div><a href="http://timiacono.com/index.php/2012/01/27/ben-bernanke-is-the-next-arthur-burns/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8776623003982705393?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-67008290510639832752012-01-30T10:51:00.001-05:002012-01-30T10:53:12.598-05:00Personal Consumption Expenditures<a href="http://4.bp.blogspot.com/-ULqoEqsx53M/Tya8hDRr1OI/AAAAAAAAGmU/sy43wBUOZC0/s1600/PCEDec2011.jpg"><img id="BLOGGER_PHOTO_ID_5703453254112498914" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 275px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-ULqoEqsx53M/Tya8hDRr1OI/AAAAAAAAGmU/sy43wBUOZC0/s400/PCEDec2011.jpg" border="0" /></a><br /><br /><div>PCE decreased less than 0.1% in December, and real PCE decreased 0.1%. Note: The PCE price index, excluding food and energy, increased 0.2 percent.The personal saving rate was at 4.0% in December.</div><br /><div></div><br /><div><a href="http://www.calculatedriskblog.com/2012/01/personal-income-increased-05-in.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6700829051063983275?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-12123719164396386432012-01-27T09:44:00.001-05:002012-01-27T09:46:24.547-05:00Home Sales<a href="http://4.bp.blogspot.com/-Wa3Z_RHrHs0/TyK4gSgSmcI/AAAAAAAAGmI/Rjo6i76fC9E/s1600/DistressingGapDec2011.jpg"><img id="BLOGGER_PHOTO_ID_5702322943067068866" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 276px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-Wa3Z_RHrHs0/TyK4gSgSmcI/AAAAAAAAGmI/Rjo6i76fC9E/s400/DistressingGapDec2011.jpg" border="0" /></a> 2011 was the worst year for new home sales since the Census Bureau started tracking sales in 1963. The three worst years were 2011, 2010, and 2009 - and 2008 is also on the worst ten list.<br /><br /><div></div><br /><div><a href="http://timiacono.com/index.php/2012/01/27/u-s-economy-grows-at-2-8-in-q4/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1212371916439638643?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-84590031305854085662012-01-27T09:41:00.001-05:002012-01-27T09:43:59.680-05:004th Quarter 2011: 2.8% Growth<a href="http://2.bp.blogspot.com/-uDadmjLzaa8/TyK32DYtWUI/AAAAAAAAGl8/G34MNA_1Cc4/s1600/12-01-27_gdp.png"><img id="BLOGGER_PHOTO_ID_5702322217454229826" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 282px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-uDadmjLzaa8/TyK32DYtWUI/AAAAAAAAGl8/G34MNA_1Cc4/s400/12-01-27_gdp.png" border="0" /></a> This is the first of three estimates for the period and marks the best growth rate in a year-and-a-half following a reading of 1.8 percent in the third quarter. But, don’t be surprised if the most recent data is revised lower since downward revisions have been the norm in recent quarters, the third quarter data starting out at a similar level – a 2.5 percent rate – when it was initially reported.<br /><br /><a href="http://timiacono.com/index.php/2012/01/27/u-s-economy-grows-at-2-8-in-q4/">source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8459003130585408566?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-74899616785592220932012-01-26T14:35:00.001-05:002012-01-26T14:37:58.388-05:00iPhone Economy<a href="http://3.bp.blogspot.com/-p24w6_Gb6OM/TyGraJHb7HI/AAAAAAAAGlw/8RyL8J9TRtA/s1600/mnfr-shift.png"><img id="BLOGGER_PHOTO_ID_5702027068839816306" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 273px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-p24w6_Gb6OM/TyGraJHb7HI/AAAAAAAAGlw/8RyL8J9TRtA/s400/mnfr-shift.png" border="0" /></a><br /><br /><div><a href="http://2.bp.blogspot.com/-cnoc38-ZfM4/TyGrZ0_DbnI/AAAAAAAAGlk/83YubspCS7A/s1600/chart-sectors.jpg"><img id="BLOGGER_PHOTO_ID_5702027063435947634" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 251px; CURSOR: hand; HEIGHT: 179px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-cnoc38-ZfM4/TyGrZ0_DbnI/AAAAAAAAGlk/83YubspCS7A/s400/chart-sectors.jpg" border="0" /></a><br /><a href="http://www.nytimes.com/interactive/2012/01/20/business/the-iphone-economy.html">source<br /></a><br /><br /><div></div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7489961678559222093?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-58884315389514079012012-01-25T07:54:00.001-05:002012-01-25T07:56:05.398-05:00Marginal Tax Rates<a href="http://2.bp.blogspot.com/-ja8W45kEjfM/Tx_7ugEy5OI/AAAAAAAAGlY/mv0zQfQ_7hg/s1600/Income_Corp_CapitalGains_Rates.png"><img id="BLOGGER_PHOTO_ID_5701552429576938722" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 372px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-ja8W45kEjfM/Tx_7ugEy5OI/AAAAAAAAGlY/mv0zQfQ_7hg/s400/Income_Corp_CapitalGains_Rates.png" border="0" /></a><br /><br /><div><a href="http://www.ritholtz.com/blog/2012/01/comparing-income-corporate-capital-gains-tax-rates-1916-2011/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5888431538951407901?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-33077000389298127822012-01-24T10:08:00.001-05:002012-01-24T10:10:07.555-05:00Federal Share of State Spending<a href="http://4.bp.blogspot.com/-CkgSj4BGPPU/Tx7JiSxqJ7I/AAAAAAAAGlM/h8SIcZzaHDw/s1600/state.jpg"><img id="BLOGGER_PHOTO_ID_5701215769290483634" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 258px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-CkgSj4BGPPU/Tx7JiSxqJ7I/AAAAAAAAGlM/h8SIcZzaHDw/s400/state.jpg" border="0" /></a><br /><br /><div>State officials have become addicted to federal subsidies because they allow them to spend money taken from taxpayers across the country instead of having to ask their voters to pony up the funds. As the following charts shows, total state spending continued to increase during the economic downturn because the federal government picked up the slack. Note that the federal share of total state spending went from 25.7 percent in 2001 to 34.1 percent in 2011.</div><br /><div></div><br /><div><a href="http://www.cato-at-liberty.org/state-dependency-on-the-federal-government/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3307700038929812782?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-54584024708244746112012-01-23T13:40:00.000-05:002012-01-23T13:42:07.548-05:00National Debt<a href="http://3.bp.blogspot.com/-AKP0P_fpQFo/Tx2p2-ms90I/AAAAAAAAGlA/-O-MYLTXxoI/s1600/debt-graphic-popup-v3.png"><img id="BLOGGER_PHOTO_ID_5700899465304274754" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 236px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-AKP0P_fpQFo/Tx2p2-ms90I/AAAAAAAAGlA/-O-MYLTXxoI/s400/debt-graphic-popup-v3.png" border="0" /></a><br /><br /><div><a href="http://www.nytimes.com/imagepages/2012/01/20/opinion/sunday/debt-graphic.html?ref=sunday">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5458402470824474611?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-85251079855479011942012-01-20T10:08:00.000-05:002012-01-20T10:09:17.286-05:00Index Funds and Fund Managers<a href="http://4.bp.blogspot.com/-giRH1gruHg0/TxmDiTBr2nI/AAAAAAAAGk0/NaS5vPQ7Nvo/s1600/350688.gif"><img id="BLOGGER_PHOTO_ID_5699731428660206194" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 126px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-giRH1gruHg0/TxmDiTBr2nI/AAAAAAAAGk0/NaS5vPQ7Nvo/s400/350688.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8525107985547901194?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-42837328346166749622012-01-19T10:16:00.002-05:002012-01-19T10:20:12.905-05:00Gold: Bull or Bear?<a href="http://1.bp.blogspot.com/-8OzGpZcklYI/Txg0OUmFFaI/AAAAAAAAGko/Rl1QmngedTg/s1600/GoldCorrection.png"><img id="BLOGGER_PHOTO_ID_5699362749088601506" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 271px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-8OzGpZcklYI/Txg0OUmFFaI/AAAAAAAAGko/Rl1QmngedTg/s400/GoldCorrection.png" border="0" /></a><br /><br /><div>Gold set a record on September 5 at $1,895 an ounce (London PM Fix) and to date has fallen as low as $1,531 (December 29), a decline of 19.2%. In order to determine how long it might take to breach $1,895 again, I measured how long it took new highs to be mounted after big corrections in the past....</div><br /><div></div><br /><div>Once gold breaches its old high, you'll probably never be able to buy it at current prices again.<br />That's a rather obvious statement, but let it sink in. Buying now at $1,600 and then watching the price fall to, say, $1,500, wouldn't be fun – but it'll probably hit $2,000 or higher before the year's over, never to visit the $1,600s again this cycle. If that turns out to be correct, the next four months will be the very last time you can buy at these levels. You'll have to pay a higher price from then on.</div><br /><div></div><br /><div><a href="http://www.caseyresearch.com/articles/when-will-gold-reach-new-high">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4283732834616674962?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-49058368755672976752012-01-18T20:06:00.004-05:002012-01-18T20:27:59.556-05:00Stop SOPA and PIPA<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/-Y_8-XnKJndY/TxdtoqYGVDI/AAAAAAAAGkc/DS_TOJQ8NVw/s1600/Bowman-SOPA-Head-Shot1-150x150.jpg"><img style="display: block; margin: 0px auto 10px; text-align: center; cursor: pointer; width: 150px; height: 150px;" src="http://2.bp.blogspot.com/-Y_8-XnKJndY/TxdtoqYGVDI/AAAAAAAAGkc/DS_TOJQ8NVw/s400/Bowman-SOPA-Head-Shot1-150x150.jpg" alt="" id="BLOGGER_PHOTO_ID_5699144398798214194" border="0" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/-oY19DKL-dwY/TxdszKW40DI/AAAAAAAAGkE/IUETJu0WdUM/s1600/Google-SOPA.png"><img style="display: block; margin: 0px auto 10px; text-align: center; cursor: pointer; width: 400px; height: 283px;" src="http://2.bp.blogspot.com/-oY19DKL-dwY/TxdszKW40DI/AAAAAAAAGkE/IUETJu0WdUM/s400/Google-SOPA.png" alt="" id="BLOGGER_PHOTO_ID_5699143479670132786" border="0" /></a><br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/-KHkRHX47tyE/TxdtIJ1E4eI/AAAAAAAAGkQ/9bJ70JG0WvY/s1600/Wikipedia-SOPA.png"><img style="display: block; margin: 0px auto 10px; text-align: center; cursor: pointer; width: 400px; height: 325px;" src="http://2.bp.blogspot.com/-KHkRHX47tyE/TxdtIJ1E4eI/AAAAAAAAGkQ/9bJ70JG0WvY/s400/Wikipedia-SOPA.png" alt="" id="BLOGGER_PHOTO_ID_5699143840305570274" border="0" /></a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4905836875567297675?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-62450764954428176002012-01-17T15:00:00.001-05:002012-01-17T15:02:53.431-05:00Debt to GDP Ratio<a href="http://4.bp.blogspot.com/-QJ4MytWcEmo/TxXTlbh_-dI/AAAAAAAAGj4/8PW9lJADjVE/s1600/debt_gdp-652x391.jpg"><img id="BLOGGER_PHOTO_ID_5698693543506213330" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 240px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-QJ4MytWcEmo/TxXTlbh_-dI/AAAAAAAAGj4/8PW9lJADjVE/s400/debt_gdp-652x391.jpg" border="0" /></a> Often pundits will say that our current debt to GDP ratio is not unreasonable because it is not too high relative to the period following the WWII and the Great Depression.<br /><br />It is true that during the post WWII era, government spending exceeded GDP. Nevermind that FDR’s New Deal actually prolonged the Great Depression. And ignore the fact that despite conventional wisdom, World War II did nothing to create prosperity. As <a href="http://www.independent.org/store/book_detail.asp?bookID=65">Bob Higgs has argued extensively</a>, no amount of money pumped into a depressed economy can bring about genuine economic recovery unless investors and business leaders feel secure in their property rights.<br /><br /><a href="http://www.mygovcost.org/2012/01/14/federal-debt-climbs-past-annual-gdp/">source</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6245076495442817600?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-60050903029861207552012-01-16T13:01:00.000-05:002012-01-16T13:02:37.324-05:00Made in ???<a href="http://3.bp.blogspot.com/-LyL8_raLrOY/TxRmI-81YxI/AAAAAAAAGjs/QBti15kEavY/s1600/Made-in-___-.png"><img id="BLOGGER_PHOTO_ID_5698291733053661970" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 330px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-LyL8_raLrOY/TxRmI-81YxI/AAAAAAAAGjs/QBti15kEavY/s400/Made-in-___-.png" border="0" /></a><br /><br /><div><a href="http://www.ritholtz.com/blog/2012/01/how-much-of-us-consumables-are-made-in-china/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6005090302986120755?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-62520672137143784242012-01-13T13:58:00.001-05:002012-01-13T14:00:18.502-05:00Ben Bernanke and Housing Prices<a href="http://timiacono.com/index.php/2012/01/13/federal-reserve-blissfully-unaware-in-2006/"><img id="BLOGGER_PHOTO_ID_5697193245242708466" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 346px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-TFcTkNzjSjc/TxB_Ek9yUfI/AAAAAAAAGjg/JKjkCrVhg9c/s400/ben.jpg" border="0" /> source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6252067213714378424?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-81313136467387607382012-01-12T14:07:00.002-05:002012-01-12T14:10:42.633-05:00How to Measure Defense Spending?“Defense spending at lowest levels in 60 years”:<br /><br /><a href="http://1.bp.blogspot.com/-sgwrtNM4WPs/Tw8vpjjtIoI/AAAAAAAAGjU/UkqyfkcxvSY/s1600/defense1.jpg"><img id="BLOGGER_PHOTO_ID_5696824444613108354" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 382px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-sgwrtNM4WPs/Tw8vpjjtIoI/AAAAAAAAGjU/UkqyfkcxvSY/s400/defense1.jpg" border="0" /></a><br />In fact, Pentagon spending in real, inflation-adjusted dollars has roughly doubled since 2000 and is up about 50 percent since 1970, at the height of the Vietnam War.<br /><br /><br /><div><a href="http://2.bp.blogspot.com/-p8F0RP07diI/Tw8vpdlLluI/AAAAAAAAGjI/32OAxFk2pt0/s1600/defense2.png"><img id="BLOGGER_PHOTO_ID_5696824443008685794" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 251px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-p8F0RP07diI/Tw8vpdlLluI/AAAAAAAAGjI/32OAxFk2pt0/s400/defense2.png" border="0" /></a><br /><a href="http://www.cato-at-liberty.org/misleading-images-on-defense-spending/">source<br /></a><br /><br /><div></div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8131313646738760738?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-24529471065906539732012-01-12T14:00:00.002-05:002012-01-12T14:02:11.083-05:00Retail Sales: Increased 0.1% in December<a href="http://2.bp.blogspot.com/-n0SIxJoMEhU/Tw8uEvSSpuI/AAAAAAAAGiw/-d2NXe96nPI/s1600/12-01-12_retail_sales.png"><img id="BLOGGER_PHOTO_ID_5696822712594507490" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 287px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-n0SIxJoMEhU/Tw8uEvSSpuI/AAAAAAAAGiw/-d2NXe96nPI/s400/12-01-12_retail_sales.png" border="0" /></a><br /><br /><div><a href="http://timiacono.com/index.php/2012/01/12/retail-sales-up-0-1-down-0-2-ex-autos/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2452947106590653973?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-18790664902284509312012-01-11T16:46:00.003-05:002012-01-11T16:49:55.344-05:00North Dakota Oil Production<a href="http://2.bp.blogspot.com/-3Fb5bDMhsEA/Tw4DVnenvoI/AAAAAAAAGik/pk4EyMs9lDc/s1600/ndoil.jpg"><img id="BLOGGER_PHOTO_ID_5696494248579808898" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 300px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-3Fb5bDMhsEA/Tw4DVnenvoI/AAAAAAAAGik/pk4EyMs9lDc/s400/ndoil.jpg" border="0" /></a> North Dakota's oil production has now surpassed OPEC-member Ecuador's daily production of <a href="http://mjperry.blogspot.com/2011/11/fact-of-day-nd-oil-approaches-opec.html">485,000 barrels</a>. <br /><br />As a result of the ongoing oil boom in the Bakken area, North Dakota continues to lead the nation with the lowest state unemployment rate at 3.4% for November, more than 5 full percentage points below the nation's average 8.7% rate for November. There are nine North Dakota counties with jobless rates at or below 2% for November, and Williams County, which is at the center of the Bakken oil boom, boasts the lowest county jobless rate in the country at 0.9%.<br /><br /><a href="http://mjperry.blogspot.com/2012/01/north-dakota-sets-more-oil-production.html">source</a><br /><br /><a href="https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html"><strong>Note:</strong> </a>The US consumes about 19,000,000 barrels a day.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1879066490228450931?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-45637795465584877822012-01-10T09:18:00.000-05:002012-01-10T09:19:50.997-05:00Manufacturing Growth<a href="http://1.bp.blogspot.com/--8sGet4ZRDU/TwxIzvXEpZI/AAAAAAAAGiY/pkYVUv_ae0M/s1600/mfg.jpg"><img id="BLOGGER_PHOTO_ID_5696007682440603026" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 374px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/--8sGet4ZRDU/TwxIzvXEpZI/AAAAAAAAGiY/pkYVUv_ae0M/s400/mfg.jpg" border="0" /></a><br /><br /><div><a href="http://mjperry.blogspot.com/2012/01/welcome-to-us-manufacturing-renaissance.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4563779546558487782?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-16167333276762122662012-01-09T14:47:00.001-05:002012-01-09T14:49:23.035-05:00Federal Budget as Household Budget<a href="http://1.bp.blogspot.com/-kp324acjNS8/TwtEbEdjFFI/AAAAAAAAGiM/vbjcpjD05S4/s1600/FedGovAndFamilyBudgetDec11_6_0.jpg"><img id="BLOGGER_PHOTO_ID_5695721385584956498" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 248px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-kp324acjNS8/TwtEbEdjFFI/AAAAAAAAGiM/vbjcpjD05S4/s400/FedGovAndFamilyBudgetDec11_6_0.jpg" border="0" /></a><br /><br /><div>Youtube video here: http://www.youtube.com/embed/Li0no7O9zmE</div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1616733327676212266?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-68222855972165544982012-01-06T10:04:00.002-05:002012-01-09T07:40:10.638-05:00December 2011 Unemployment: 8.5%<a href="http://1.bp.blogspot.com/-_7PCb9_UJVI/TwcNgKMLvWI/AAAAAAAAGiA/NOw5Hsaj54c/s1600/12-01-0_jobs.png"><img id="BLOGGER_PHOTO_ID_5694535099975712098" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 283px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-_7PCb9_UJVI/TwcNgKMLvWI/AAAAAAAAGiA/NOw5Hsaj54c/s400/12-01-0_jobs.png" border="0" /></a><br /><br /><br /><div>After holding steady at about 9 percent during most of 2011, the jobless rate has now declined by 0.6 percentage points in just the last three months as the number of unemployed persons has fallen from 13.9 million to 13.1 million. During that same time, the size of the labor force has decreased from 154.0 million to 153.9 million, reducing the participation rate from 64.1 percent to 64.0 percent.</div><br /><br /><div><br />A broader measure of job distress – U6 underemployment that includes discouraged workers and those settling for part-time work – fell from 15.6 percent to 15.2 percent, down from a high of nearly 17 percent earlier in the year.</div><br /><br /><div></div><br /><br /><div><a href="http://timiacono.com/index.php/2012/01/06/payrolls-up-200000-jobles-rate-at-8-5/#more-26021">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6822285597216554498?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-63902557478361874292012-01-06T07:35:00.001-05:002012-01-06T07:37:28.963-05:00Defense Spending<a href="http://3.bp.blogspot.com/-3OMq2Ufxak4/TwbqtLoCQRI/AAAAAAAAGh0/4wIvXMEFKZ4/s1600/Defense_Spending_2000_to_2011.png"><img id="BLOGGER_PHOTO_ID_5694496840792293650" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 280px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-3OMq2Ufxak4/TwbqtLoCQRI/AAAAAAAAGh0/4wIvXMEFKZ4/s400/Defense_Spending_2000_to_2011.png" border="0" /></a><br /><br /><div><strong>My thoughts:</strong> Is cutting $500 billion over 10 years really that tough?</div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6390255747836187429?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-32752196130729415312012-01-05T15:04:00.000-05:002012-01-05T15:06:02.993-05:00Bernstein Romer Chart Updated<a href="http://1.bp.blogspot.com/-2eE2DsN2dvQ/TwYChqrWARI/AAAAAAAAGhk/U1ZxVUwDjfE/s1600/romerbernstein1.jpg"><img id="BLOGGER_PHOTO_ID_5694241556271595794" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 258px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-2eE2DsN2dvQ/TwYChqrWARI/AAAAAAAAGhk/U1ZxVUwDjfE/s400/romerbernstein1.jpg" border="0" /></a><br /><br /><div><a href="http://3.bp.blogspot.com/-7uceIdiA9aU/TwYChRlVaKI/AAAAAAAAGhc/t18QhG7TYmQ/s1600/romney1.jpg"><img id="BLOGGER_PHOTO_ID_5694241549535504546" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 283px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-7uceIdiA9aU/TwYChRlVaKI/AAAAAAAAGhc/t18QhG7TYmQ/s400/romney1.jpg" border="0" /></a><br /><a href="http://blog.american.com/2011/12/the-7-most-illuminating-economic-charts-of-2011/">source<br /></a><br /><br /><div></div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3275219613072941531?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-34252424637346667742012-01-04T16:31:00.000-05:002012-01-04T16:32:37.204-05:00Small Business Success Rate<a href="http://2.bp.blogspot.com/-wNkhe6VxYJc/TwTFWeie9kI/AAAAAAAAGhQ/PU_M3RKXwiA/s1600/success-fail.png"><img id="BLOGGER_PHOTO_ID_5693892818848642626" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 372px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-wNkhe6VxYJc/TwTFWeie9kI/AAAAAAAAGhQ/PU_M3RKXwiA/s400/success-fail.png" border="0" /></a><br /><br /><div><a href="http://www.ritholtz.com/blog/2012/01/small-business-successfailure-rates/#more-74314">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3425242463734666774?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-44516999107824633662012-01-03T14:57:00.001-05:002012-01-03T15:00:21.732-05:00Walter Williams on GreedWalter Williams writes:<br /><br /><blockquote>What human motivation gets the most wonderful things done? It's really a silly question, because the answer is so simple. It turns out that it's human greed that gets the most wonderful things done. When I say greed, I am not talking about fraud, theft, dishonesty, lobbying for special privileges from government or other forms of despicable behavior. I'm talking about people trying to get as much as they can for themselves...<br /><br />Free market capitalism is relatively new in human history. Prior to the rise of capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man. Capitalism made it possible to become wealthy by serving one's fellow man. Capitalists seek to discover what people want and then produce it as efficiently as possible. Free market capitalism is ruthless in its profit and loss discipline. This explains much of the hostility toward free market capitalism; some of it is held by businessmen...<br /><br />Free market capitalism has other enemies — mostly among the intellectual elite and political tyrants. These are people who believe that they have superior wisdom to the masses and that God has ordained them to forcibly impose that wisdom on the rest of us. Of course, they have what they consider to be good reasons for restricting liberty, but every tyrant who has ever lived has had what he considered good reason for restricting liberty. A tyrant's agenda calls for the attenuation or the elimination of the market and what is implied by it — voluntary exchange. Tyrants do not trust that people acting voluntarily will do what the tyrant thinks they should do. They want to replace the market with economic planning and regulation.</blockquote><br /><a href="http://www.creators.com/conservative/walter-williams/i-love-greed.html">read the entire essay </a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4451699910782463366?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-76563755833574022052012-01-02T10:00:00.001-05:002012-01-02T10:01:54.211-05:002011 Boxoffice Numbers<a href="http://4.bp.blogspot.com/-2bsEakk4WPg/TwHGuUjzoiI/AAAAAAAAGhE/Pvm1tgHE5xM/s1600/boxoffice-fail.jpg"><img id="BLOGGER_PHOTO_ID_5693049903068193314" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 241px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-2bsEakk4WPg/TwHGuUjzoiI/AAAAAAAAGhE/Pvm1tgHE5xM/s400/boxoffice-fail.jpg" border="0" /></a><br /><br /><div><a href="http://online.wsj.com/article/SB10001424052970203479104577122750501440124.html?mod=ITP_marketplace_3">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7656375583357402205?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-43051308207894088302011-12-15T10:00:00.002-05:002011-12-15T10:01:10.486-05:00Household Debt<a href="http://3.bp.blogspot.com/-R3M1KC90Ixg/TuoLo-MPD_I/AAAAAAAAGg4/_V2kmONm1pY/s1600/debt.jpg"><img id="BLOGGER_PHOTO_ID_5686370278025662450" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 326px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-R3M1KC90Ixg/TuoLo-MPD_I/AAAAAAAAGg4/_V2kmONm1pY/s400/debt.jpg" border="0" /></a><br /><br /><div><a href="http://mjperry.blogspot.com/2011/12/household-debt-ratios-are-lowest-since.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4305130820789408830?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-85023455363533023532011-12-15T09:36:00.002-05:002011-12-15T09:37:41.662-05:00Free Trade Works: Japanese Auto Edition<a href="http://2.bp.blogspot.com/-DLU8aJGBx1Y/TuoF-TXomEI/AAAAAAAAGgs/k9Kpm97vnYk/s1600/map.jpg"><img id="BLOGGER_PHOTO_ID_5686364047418103874" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 306px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-DLU8aJGBx1Y/TuoF-TXomEI/AAAAAAAAGgs/k9Kpm97vnYk/s400/map.jpg" border="0" /></a><br /><br /><div>1. Japanese automakers like Toyota, Honda, and Nissan are responsible for more than 407,000 jobs in the U.S. The vast majority of employees are those working at Japanese auto dealerships in the U.S., but Japanese automakers employ 50,000 American workers at 29 American vehicle, engine and parts plants, and another 4,000 at 34 major R&D and design centers, reflecting $34 billion of investment in the U.S.</div><br /><div><br />2. Japanese makers are producing most of the cars they sell in America in North America -- 68% altogether.</div><br /><div><br />3. Exported vehicles from Japanese plants in the U.S. last year increased to more than 145,000, up from 94,000 in 2009. With a strong yen today, the trend will continue, and will be be supplemented by new exports of U.S.-built Toyotas to South Korea following the recent ratification of the free trade agreement. </div><br /><div></div><br /><div><a href="http://mjperry.blogspot.com/2011/12/japanese-automakers-employ-407000.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8502345536353302353?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-81597294442092152822011-12-15T07:37:00.002-05:002011-12-15T07:43:07.544-05:00Economic Recovery: A SolutionBill Bonner writes:<br /><br /><blockquote>Trying to fix a depression it is not only expensive…. The US government spends $1.60 for every $1 it receives in taxes. This is a recipe for a disaster, not for a recovery.<br /><br />Worse. It actually prevents a real recovery from happening, by blocking the market’s natural self-healing system<br /><br />Let us ask you this, dear reader: <strong>what’s the cure for a depression?<br /><br />Answer: a depression!...<br /></strong><br />The unemployment problem is a “tough nut to crack,” says The Financial Times.<br /><br />Of course, we could fix the jobless problem overnight. But people wouldn’t appreciate it. We would simply remove all subsidies for unemployed people…and all restraints on hiring. Labor prices would fall fast. Within days, we’d have full employment again.</blockquote><br /><a href="http://dailyreckoning.com/unpopular-cures-for-unemployment-and-economic-depression/">read the entire essay</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8159729444209215282?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-83780738610221167742011-12-14T11:01:00.000-05:002011-12-14T11:02:44.071-05:00Regime Uncertainty and the Non-RecoveryRobert Higgs introduced the concept of “regime uncertainty”, government policies and actions that threaten property rights, in his outstanding paper, <a href="http://www.independent.org/pdf/tir/tir_01_4_higgs.pdf">Regime Uncertainty: Why the Great Depression Lasted So Long and Why Prosperity Resumed after the War</a> to explain the depth and duration of the Great Depression with special attention to the “Roosevelt recession” of 1937 to 1938, a recession within a depression. Commentators have applied the concept to predict or explain why the current recovery would be, or is, a slow jobless recovery.<br /><br />As examples see:<br /><a href="http://mises.org/journals/qjae/pdf/qjae13_3_4.pdf">http://mises.org/journals/qjae/pdf/qjae13_3_4.pdf</a><br /><br /><a href="http://blog.independent.org/2011/11/06/u-s-economic-recovery-remains-anemic-at-best/">http://blog.independent.org/2011/11/06/u-s-economic-recovery-remains-anemic-at-best/</a><br /><br /><a href="http://blog.independent.org/2011/10/08/important-new-evidence-on-regime-uncertainty/">http://blog.independent.org/2011/10/08/important-new-evidence-on-regime-uncertainty/</a><br /><br /><a href="http://blog.independent.org/2011/09/19/global-regime-uncertainty/">http://blog.independent.org/2011/09/19/global-regime-uncertainty/</a><br /><br /><a href="http://blog.mises.org/11716/jobs-investment-and-spending/">http://blog.mises.org/11716/jobs-investment-and-spending/</a><br /><br />Today’s Wall Street Journal, “<a href="http://online.wsj.com/article/SB10001424052970204770404577082920364818792.html?mod=djemEditorialPage_h">Regulation for Dummies</a>” (p. A20) provides more evidence that regime uncertainty is a major factor in leading forward looking entrepreneurs and managers to be hesitant to expand old or create new enterprises. The evidence is provided in this chart (below) reproduced in the Journal from the Unified Agenda, Regulatory Service Center.<br /><br />The Journal observes, it is not just existing or newly approved regulations that matter. “(T)he regulatory future matters as much. The Administration’s pipeline is clogged with proposed rules and plans to propose rules, which every business survey says are contributing to the policy uncertainty that is harming growth and hiring.”<br /><br />Echoing Higgs, the Journal concludes, “The evidence is overwhelming that the Obama regulatory surge is one reason the current economic recovery has been so lackluster by historical standards. Rather than nurture an economy trying to rebuild confidence after a financial heart attack, the Administration pushed through its now-famous blitz of liberal policies on health care, financial services, energy, housing, education and student loans, telecom, labor relations, transportation and probably some other industries we’ve forgotten. Anyone who thinks this has only minimal impact on business has never been in business.” What should be added to the list is the real threat of significantly higher future tax burdens.<br /><br /><a href="http://blog.mises.org/19928/19928/">source</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8378073861022116774?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-25701500485776860012011-12-13T10:13:00.002-05:002011-12-13T10:17:50.993-05:00Revenues, Taxes, and Government Growth<a href="http://4.bp.blogspot.com/-M4GNCaarJ_w/TudrwiLwdiI/AAAAAAAAGgg/v8lhfxMnSbc/s1600/Federal_Revenues.jpg"><img id="BLOGGER_PHOTO_ID_5685631536132552226" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 223px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-M4GNCaarJ_w/TudrwiLwdiI/AAAAAAAAGgg/v8lhfxMnSbc/s400/Federal_Revenues.jpg" border="0" /></a><br />This chart contrasts total federal revenues with the portion that comes from individual income tax receipts. Here we see that the biggest source or rising tax revenues has been income taxes, since they have risen at a much faster rate. One reason for the sluggish growth in total revenues, of course, is the cut in social security withholding rates that has been in place for the past year and is quite likely to be continued. The chart also highlights the fact that since the Bush tax cuts were first instituted in mid-2003, income tax receipts are now substantially higher—36% higher (almost $300 billion on an annual basis)—than they were when tax rates were higher. Once again, we see here concrete evidence that Art Laffer's vision (and his famous curve) was anything but crazy: lower tax rates can promote stronger growth, and thus result in higher tax revenues. If it weren't for the 20080-9 recession, which had everything to do with a collapse of the housing bubble and a 6 million decline in the number of private sector jobs, and almost nothing to do with low tax rates, both the economy and tax revenues would now be considerably higher.<br /><br /><a href="http://scottgrannis.blogspot.com/2011/12/federal-finances-update.html">lots of graphs and more analysis<br /></a><br /><strong>My thoughts:</strong> Looking at the chart it should be obvious that the recession lowered tax revenues, not "the Bush tax cut".<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2570150048577686001?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-79092638592304560102011-12-13T10:09:00.000-05:002011-12-13T10:11:28.752-05:008% Unemployment by November 2012?Many forecasters think the unemployment rate will increase next year because of sluggish growth. Right now the FOMC is forecasting the unemployment rate will be in the 8.5% to 8.7% range in Q4 2012, and private forecasters are even more pessimistic. Goldman Sachs is forecasting 9% in Q4 2012, and Merrill Lynch is forecasting 8.8%.<br /><br />But it is possible that we could see 8% by the election. It depends on job creation and the participation rate...<br /><br />If the participation rate falls to 63.5%, the economy needs to add 74 thousand jobs per month for the unemployment rate to fall to 8%. But a further decline in the participation rate would not be good news. I expect the participation rate to increase if the economy improves at all.<br /><br />Most likely I think the participation rate will be in the 64.0% to 64.5% range next November. That would mean the economy would need to add somewhere between 167,000 and 260,000 jobs per month. The bottom end of that range seems possible with sluggish growth, but the top end is less likely.<br /><br /><a href="http://www.calculatedriskblog.com/2011/12/jobs-needed-to-reach-8-unemployment.html">source and chart</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7909263859230456010?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-61985158802100720672011-12-13T10:06:00.000-05:002011-12-13T10:07:42.090-05:00Crony Capitalism<a href="http://2.bp.blogspot.com/-UeligsyV3C4/TudqJHZsoBI/AAAAAAAAGgU/C3EHgCzJkTo/s1600/crony-capitalism.jpg"><img id="BLOGGER_PHOTO_ID_5685629759416737810" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 300px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-UeligsyV3C4/TudqJHZsoBI/AAAAAAAAGgU/C3EHgCzJkTo/s400/crony-capitalism.jpg" border="0" /></a><br /><br /><div><a href="http://thinkmarkets.wordpress.com/2011/12/11/the-free-market-versus-crony-capitalism/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6198515880210072067?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-449255275302541352011-12-12T13:07:00.001-05:002011-12-12T13:09:44.988-05:00Paying For Financial Advice<a href="http://1.bp.blogspot.com/-gahq0NxokYA/TuZC-4RdC8I/AAAAAAAAGgI/HPK9rFdhBCc/s1600/WE-AA243E_Billi_G_20111209113305.jpg"><img id="BLOGGER_PHOTO_ID_5685305227626744770" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 118px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-gahq0NxokYA/TuZC-4RdC8I/AAAAAAAAGgI/HPK9rFdhBCc/s400/WE-AA243E_Billi_G_20111209113305.jpg" border="0" /></a><br /><br /><div>A quick review of each shows their strengths and weaknesses.</div><br /><div><br />2% & 20% is primarily used by hedge funds. You pay a hefty premium plus one fifth of your profits for the privilege (many funds have an extended lock up period as well). Unfortunately, performance at funds has been lacking.</div><br /><div><br />Bottom line: Top managers earn their fees, but the rest, not so much. If your manager(s) are making you outsized profits and avoiding the crackups, stay with them. Otherwise, rethink the fees you pay for under-performance</div><br /><div><br />Commission driven is my least favorite of all the structures. Fees tend towards 4 or 5%, as brokers must constantly spin assets to generate revenue.</div><br /><div><br />Bottomline: I simply do not understand how this business continues to exist . . .</div><br /><div><br />Percentage basis is my preference how to conduct fin planning (and how I do <a href="http://www.ritholtz.com/blog/managed-assets/" target="_blank">my asset management </a>work); Adviser is on the same side of the table as the client — no commissions, no compromised payments, no legal kickbacks from 3rd parties. If I am doing my job, I am helping clients plan for the future, avoid major drawdowns where possible, and capture upside.</div><br /><div><br />Bottomline: Work with someone you are comfortable with to develop a plan for you; you should be able to tap someone for advice on a wide range of finance related issues. Your job is to manage someone else who does the day to day work.</div><br /><div><br />Flat rate is a business model that I believe warrants further exploration. It has typically been used for accounts sized under $500k; Numerous firms offer this; they all seem bedeviled by under-performance and de minimus customer service. I believe this is an area that has potential for huge growth if someone can figure out a way to radically improve the performance problem.</div><br /><div><br />Bottomline: One day . . .</div><br /><div><br />Do it yourself is something I have long advocated for, but with some caveats: Dollar cost averaging into a handful of broad indices on a monthly basis is how you start; overlay a risk management approach (like the 10 month moving average) and you are onto something very doable. The downside is your own cognitive biases, the tendency to be overwhelmed by the daily noise, and a lack of discipline in following through on your own plan.</div><br /><div><br />Bottomline: Very doable if you know who you are and have the ability to follow through.</div><br /><div></div><br /><div><a href="http://www.ritholtz.com/blog/2011/12/how-to-pay-for-financial-advice/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-44925527530254135?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-38873150259934377022011-12-12T12:07:00.001-05:002011-12-12T12:08:43.428-05:00San Francisco: $10 Minimum WageCome New Year's Day, he'll have a few more coins in his pocket as <a title="More news, photos about San Francisco" href="http://content.usatoday.com/topics/topic/Places,+Geography/Towns,+Cities,+Counties/San+Francisco">San Francisco</a> makes history by becoming the first city in the nation to scale a $10 minimum wage. The city's hourly wage for its lowest-paid workers will hit $10.24, more than $2 above the California minimum wage and nearly $3 more than the working wage set by the federal government.<br /><br /><a href="http://www.usatoday.com/money/economy/income/story/2011-12-12/San-Francisco-minimum-wage/51823748/1">source</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3887315025993437702?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-82530352131183148322011-12-07T11:04:00.002-05:002011-12-07T11:04:57.098-05:00Cartoon: Congress and Wall Street<a href="http://2.bp.blogspot.com/-HBz4ZIpVwhA/Tt-OnfvPoPI/AAAAAAAAGf8/Jn_-Z7GwgOc/s1600/breast_pocket-johannson.gif"><img id="BLOGGER_PHOTO_ID_5683418063950553330" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 286px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-HBz4ZIpVwhA/Tt-OnfvPoPI/AAAAAAAAGf8/Jn_-Z7GwgOc/s400/breast_pocket-johannson.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8253035213118314832?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-42716192957247599882011-12-06T09:20:00.000-05:002011-12-06T09:21:38.199-05:00Cartoon: Warren Buffett and Tax Rates<a href="http://1.bp.blogspot.com/-NOHW1v_rmls/Tt4k3yiZYoI/AAAAAAAAGfw/-lvKuTB3sC8/s1600/dilbert2.gif"><img id="BLOGGER_PHOTO_ID_5683020320665592450" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 125px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-NOHW1v_rmls/Tt4k3yiZYoI/AAAAAAAAGfw/-lvKuTB3sC8/s400/dilbert2.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4271619295724759988?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-74143338903520976922011-12-05T18:58:00.001-05:002011-12-05T19:01:36.658-05:00Imports<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/-mER0sGsAUX4/Tt1bI2fHLiI/AAAAAAAAGfk/ZK1yfZk0fl0/s1600/imports.jpg"><img style="display: block; margin: 0px auto 10px; text-align: center; cursor: pointer; width: 400px; height: 317px;" src="http://2.bp.blogspot.com/-mER0sGsAUX4/Tt1bI2fHLiI/AAAAAAAAGfk/ZK1yfZk0fl0/s400/imports.jpg" alt="" id="BLOGGER_PHOTO_ID_5682798512434523682" border="0" /></a><a href="http://mjperry.blogspot.com/2011/11/canada-we-believe-in-free-trade-and.html">source</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7414333890352097692?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-87341451315142682942011-12-02T10:43:00.001-05:002011-12-02T11:45:14.851-05:00November Unemployment: 8.6%<a href="http://timiacono.com/index.php/2011/12/02/payrolls-up-120000-jobless-rate-falls-to-8-6/"><img id="BLOGGER_PHOTO_ID_5681557189816494018" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 282px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-KwJjO6TNCKc/TtjyKXYUJ8I/AAAAAAAAGfY/GunKcxCrMfA/s400/11-12-02_jobs.png" border="0" /> </a><br />The number of unemployed people fell from 13.9 million in October to 13.3 million in November while the labor force shrank from 154.2 million to 153.9 million, so, it was a combination of these two factors that drove the jobless rate lower. The broader U6 measure of under-employment (including discouraged workers and those settling for part-time work) fell from 16.2 percent to 15.6 percent.<br /><br /><a href="http://timiacono.com/index.php/2011/12/02/payrolls-up-120000-jobless-rate-falls-to-8-6/">source </a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8734145131514268294?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-65778917018075903572011-12-02T10:35:00.003-05:002011-12-02T10:40:15.183-05:00November Unemployment: 8.6%<a href="http://1.bp.blogspot.com/-hc4rFdDkyhg/TtjwzS1xiiI/AAAAAAAAGfM/fIfM5lymq74/s1600/EmployPopOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5681555693949258274" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 277px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-hc4rFdDkyhg/TtjwzS1xiiI/AAAAAAAAGfM/fIfM5lymq74/s400/EmployPopOct2011.jpg" border="0" /></a><br /><br /><div><a href="http://4.bp.blogspot.com/-KixCm_pmdfs/TtjwiZggVaI/AAAAAAAAGfA/Ng8orkrsU_c/s1600/EmployRecessAlignedNov2011.jpg"><img id="BLOGGER_PHOTO_ID_5681555403681322402" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 260px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-KixCm_pmdfs/TtjwiZggVaI/AAAAAAAAGfA/Ng8orkrsU_c/s400/EmployRecessAlignedNov2011.jpg" border="0" /></a><br />There were only 120,000 jobs added in November. There were 140,000 private sector jobs added, and 20,000 government jobs lost. </div><br /><div></div><br /><div>The change in total employment was revised up for September and October. "The change in total nonfarm payroll employment for September was revised from +158,000 to +210,000, and the change for October was revised from +80,000 to +100,000."</div><br /><div></div><br /><div>U-6, an alternate measure of labor underutilization that includes part time workers and marginally attached workers, declined to 15.6% - this remains very high. U-6 was in the 8% range in 2007.</div><br /><div></div><br /><div><a href="http://www.calculatedriskblog.com/2011/12/employment-summary-part-time-workers.html">source<br /><br /></a><br /><br /><br /><br /></div><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6577891701807590357?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-39010734116802004042011-12-02T08:26:00.000-05:002011-12-02T08:27:05.090-05:00Cartoon: Job Interview<a href="http://3.bp.blogspot.com/-A84zLRkNbOE/TtjSEIyE7gI/AAAAAAAAGeo/y2jp33lZ2IY/s1600/dilbert1.jpg"><img id="BLOGGER_PHOTO_ID_5681521898446712322" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 192px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-A84zLRkNbOE/TtjSEIyE7gI/AAAAAAAAGeo/y2jp33lZ2IY/s400/dilbert1.jpg" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3901073411680200404?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-26782816583003990512011-12-02T08:25:00.000-05:002011-12-02T08:26:24.665-05:00Cartoon: Unemployment and Morale<a href="http://1.bp.blogspot.com/-zxusNez8BCY/TtjR5DuqNYI/AAAAAAAAGec/5X8400_Wi2Y/s1600/dilbert.gif"><img id="BLOGGER_PHOTO_ID_5681521708111639938" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 125px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-zxusNez8BCY/TtjR5DuqNYI/AAAAAAAAGec/5X8400_Wi2Y/s400/dilbert.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2678281658300399051?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-39087838109697916232011-12-01T08:21:00.001-05:002011-12-01T08:24:41.080-05:00NY Fed Q3 Report on Household Debt and Credit<a href="http://2.bp.blogspot.com/-WAZkGDKyArI/Ttd_iB9MtWI/AAAAAAAAGeQ/J7NHOgljKXY/s1600/NYFedQ32011.JPG"><img id="BLOGGER_PHOTO_ID_5681149677568570722" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 290px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-WAZkGDKyArI/Ttd_iB9MtWI/AAAAAAAAGeQ/J7NHOgljKXY/s400/NYFedQ32011.JPG" border="0" /></a><br /><br /><div>Aggregate consumer debt fell approximately $60 billion to $11.66 trillion in the third quarter of 2011 according to the Federal Reserve Bank of New York’s latest Quarterly Report on Household Debt and Credit. </div><br /><div></div><br /><div><a href="http://www.calculatedriskblog.com/2011/11/ny-fed-q3-report-on-household-debt-and.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3908783810969791623?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-21145044823159711132011-12-01T08:18:00.000-05:002011-12-01T08:20:20.820-05:00New Home Prices: Average Lowest since 2003<a href="http://2.bp.blogspot.com/-uQFAIDshV30/Ttd-2R-jKBI/AAAAAAAAGeE/_PROjycNm0k/s1600/DistressingGAPOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5681148925954959378" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 276px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-uQFAIDshV30/Ttd-2R-jKBI/AAAAAAAAGeE/_PROjycNm0k/s400/DistressingGAPOct2011.jpg" border="0" /></a><br /><br /><div>From the <a href="http://www.census.gov/const/newressales.pdf">Census Bureau</a>: "The median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300."The following graph shows the median and average new home prices. </div><br /><div></div><br /><div>The average new home price is at the lowest level since August 2003.</div><br /><div></div><br /><div><a href="http://www.calculatedriskblog.com/2011/11/new-home-prices-average-lowest-since.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2114504482315971113?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-34316881959645784492011-12-01T08:16:00.001-05:002011-12-01T08:17:54.812-05:00Philly Fed State Coincident Indexes increase in October<a href="http://4.bp.blogspot.com/-q_ZV6unCREg/Ttd-QhYQvyI/AAAAAAAAGd0/5F7oyAYiy_0/s1600/PhillyFedMapOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5681148277254307618" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 320px; CURSOR: hand; HEIGHT: 247px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-q_ZV6unCREg/Ttd-QhYQvyI/AAAAAAAAGd0/5F7oyAYiy_0/s400/PhillyFedMapOct2011.jpg" border="0" /></a><br /><br /><div><a href="http://2.bp.blogspot.com/-GBjdZ_pzSKo/Ttd-Qm6S2uI/AAAAAAAAGds/GCw_daV4mXk/s1600/PhillyFedOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5681148278739229410" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 320px; CURSOR: hand; HEIGHT: 228px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-GBjdZ_pzSKo/Ttd-Qm6S2uI/AAAAAAAAGds/GCw_daV4mXk/s400/PhillyFedOct2011.jpg" border="0" /></a><br /><br />The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for October 2011. In the past month, the indexes increased in 43 states, decreased in five, and remained unchanged in two (Georgia and New Mexico) for a one-month diffusion index of 76. Over the past three months, the indexes increased in 42 states, decreased in seven, and remained unchanged in one (Delaware) for a three-month diffusion index of 70.</div><br /><div></div><br /><div><a href="http://www.calculatedriskblog.com/2011/11/philly-fed-state-coincident-indexes.html">source<br /></a><br /><div></div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3431688195964578449?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-56018324164638712532011-11-28T10:47:00.000-05:002011-11-28T10:48:24.076-05:00Cartoon: Investing and Stress<a href="http://1.bp.blogspot.com/-mcKt70YfUKs/TtOtO9Loa8I/AAAAAAAAGdg/ZO--9kwP_NY/s1600/3a.gif"><img id="BLOGGER_PHOTO_ID_5680074027497450434" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 130px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-mcKt70YfUKs/TtOtO9Loa8I/AAAAAAAAGdg/ZO--9kwP_NY/s400/3a.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5601832416463871253?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-15588679323386051822011-11-17T10:03:00.001-05:002011-11-17T10:05:50.588-05:00National Debt Hits $15 TrillionThe Outstanding Public Debt as of 17 Nov 2011 at 03:03:21 PM GMT is:<br /><br /><br /><br /><p><a href="http://2.bp.blogspot.com/-JhKr20RarBQ/TsUiezGLMEI/AAAAAAAAGdU/xiIiRbvyNfE/s1600/debtiv.gif"><img id="BLOGGER_PHOTO_ID_5675980817877905474" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 39px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-JhKr20RarBQ/TsUiezGLMEI/AAAAAAAAGdU/xiIiRbvyNfE/s400/debtiv.gif" border="0" /></a><br /><br />The estimated population of the United States is 311,689,050so each citizen's share of this debt is $48,254.63. </p><br /><p><br />The National Debt has continued to increase an average of $3.99 billion per day since September 28, 2007!</p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1558867932338605182?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-29355299229214662762011-11-16T15:12:00.001-05:002011-11-16T15:13:28.705-05:00CPI: 3.6%<a href="http://4.bp.blogspot.com/-rI2pqodX0qA/TsQZPe9YbDI/AAAAAAAAGdI/UGh1jQ-ET3M/s1600/11-11-16_cpi.png"><img id="BLOGGER_PHOTO_ID_5675689184192916530" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 270px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-rI2pqodX0qA/TsQZPe9YbDI/AAAAAAAAGdI/UGh1jQ-ET3M/s400/11-11-16_cpi.png" border="0" /></a><br /><br /><div>The Labor Department <a href="http://www.bls.gov/news.release/cpi.nr0.htm">reported</a> that U.S. consumer prices decreased 0.1 percent in October, due largely to falling energy prices, and that annual inflation now stands at 3.6 percent, down from a three-year high of 3.9 percent in September.</div><br /><div></div><br /><div><a href="http://timiacono.com/index.php/2011/11/16/inflation-down-0-1-up-3-6-year-over-year/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2935529922921466276?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-13568787421996632192011-11-16T15:10:00.002-05:002011-11-16T15:11:26.818-05:00Short Lived Millionaires<a href="http://3.bp.blogspot.com/-uPXpymQPe-c/TsQY14h9CDI/AAAAAAAAGc8/otcJEuh9bPE/s1600/11-11-16_millionaires.png"><img id="BLOGGER_PHOTO_ID_5675688744380598322" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 283px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-uPXpymQPe-c/TsQY14h9CDI/AAAAAAAAGc8/otcJEuh9bPE/s400/11-11-16_millionaires.png" border="0" /></a><br /><br /><div><a href="http://timiacono.com/index.php/2011/11/16/not-millionaires-for-long/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1356878742199663219?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-48949645074910170972011-11-15T07:43:00.000-05:002011-11-15T07:44:48.184-05:00Euro Exports by State<a href="http://2.bp.blogspot.com/-FhyO4S0d8E4/TsJeniDrgJI/AAAAAAAAGcw/6kIbsCqAhDE/s1600/EuroExports.JPG"><img id="BLOGGER_PHOTO_ID_5675202513690394770" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 256px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-FhyO4S0d8E4/TsJeniDrgJI/AAAAAAAAGcw/6kIbsCqAhDE/s400/EuroExports.JPG" border="0" /></a><br /><br /><div><a href="http://www.calculatedriskblog.com/2011/11/state-by-state-exports-to-europe.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4894964507491017097?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-90320933769636385152011-11-08T08:23:00.005-05:002011-11-08T08:39:17.793-05:00How Bad is the Unemployment Situation?<img id="BLOGGER_PHOTO_ID_5672615318453563986" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 260px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-ttmxBHU-PUY/Trktk8vdMlI/AAAAAAAAGcY/KVdAqi5e2eA/s400/EmployRecOct2011.jpg" border="0" /><br /><a href="http://2.bp.blogspot.com/-x2N3FSXgcFE/Trktu67z05I/AAAAAAAAGck/ORuT8FrCY1s/s1600/EmployProjOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5672615489767199634" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 260px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-x2N3FSXgcFE/Trktu67z05I/AAAAAAAAGck/ORuT8FrCY1s/s400/EmployProjOct2011.jpg" border="0" /></a><br /><br />If we continue to see sluggish growth with 125,000 payroll jobs added per month (the pace this year), it will take an additional 52 months just to get back to the pre-recession level of payroll employment.<br /><br />If job growth picks up a little - say to 200,000 payroll jobs per month - it will take an additional 33 months to get back to the pre-recession level.<br /><br /><a href="http://www.calculatedriskblog.com/2011/11/sluggish-growth-and-payroll-employment.html">source<br /><br /></a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-9032093376963638515?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-76752238965232030302011-11-08T08:20:00.001-05:002011-11-08T08:23:06.546-05:00How Bad is the Unemployment Situation?<div><a href="http://4.bp.blogspot.com/-5CGBo9iYQ04/TrktCi5aNjI/AAAAAAAAGcA/23aYql115TY/s1600/EmployREcalignOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5672614727400437298" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 260px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-5CGBo9iYQ04/TrktCi5aNjI/AAAAAAAAGcA/23aYql115TY/s400/EmployREcalignOct2011.jpg" border="0" /></a><br /><br /><br /><a href="http://2.bp.blogspot.com/-Dk3XVvWnLms/TrktC7k7WuI/AAAAAAAAGcI/FtMFYpmKVvc/s1600/EmployProjAlignOct2011.jpg"><img id="BLOGGER_PHOTO_ID_5672614734025415394" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 252px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-Dk3XVvWnLms/TrktC7k7WuI/AAAAAAAAGcI/FtMFYpmKVvc/s400/EmployProjAlignOct2011.jpg" border="0" /></a><br /><br /><div></div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7675223896523203030?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-9293596986247072572011-11-04T09:36:00.002-04:002011-11-04T09:39:26.141-04:00October 2011 Unemployment Rate: 9.0%<a href="http://timiacono.com/index.php/2011/11/04/payrolls-up-80000-jobless-rate-down-to-9-0/#more-24522"><img id="BLOGGER_PHOTO_ID_5671134496814985122" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 282px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-nRwq6FLbXyQ/TrPqxyQe76I/AAAAAAAAGb0/YKjR-VcFNtc/s400/11-11-02_jobs.png" border="0" /> source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-929359698624707257?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-15464276703818305062011-11-04T07:46:00.000-04:002011-11-04T07:47:27.695-04:00Income Mobility<a href="http://mjperry.blogspot.com/2011/11/when-you-do-time-lapse-analysis-instead.html"><img id="BLOGGER_PHOTO_ID_5671105762732970850" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 348px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-PP4N-D_8r1I/TrPQpPdek2I/AAAAAAAAGbo/HjC5EXYpRcc/s400/income.jpg" border="0" /> source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1546427670381830506?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-43014748285778615962011-11-02T08:57:00.001-04:002011-11-02T08:59:39.451-04:00Has Capitalism Failed?<a href="http://3.bp.blogspot.com/-_FYw1MmKp-8/TrE-o2Ug01I/AAAAAAAAGbc/91AC5sCzi-E/s1600/Capitalism-has-failed-640x408.jpg"><img id="BLOGGER_PHOTO_ID_5670382277333406546" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 255px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-_FYw1MmKp-8/TrE-o2Ug01I/AAAAAAAAGbc/91AC5sCzi-E/s400/Capitalism-has-failed-640x408.jpg" border="0" /></a><br /><br /><div><a href="http://blog.mises.org/18927/capitalism-has-failed/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4301474828577861596?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-38584116876848716932011-10-27T09:51:00.002-04:002011-10-27T09:55:10.434-04:00Who Owns TV?<a href="http://4.bp.blogspot.com/-hY-_KhgttZE/TqlieuWeB6I/AAAAAAAAGbQ/LhcR17tm4wQ/s1600/Remote-Contral.png"><img id="BLOGGER_PHOTO_ID_5668169886000351138" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 189px; CURSOR: hand; HEIGHT: 400px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-hY-_KhgttZE/TqlieuWeB6I/AAAAAAAAGbQ/LhcR17tm4wQ/s400/Remote-Contral.png" border="0" /></a><br /><br /><div><a href="http://www.ritholtz.com/blog/2011/10/who-owns-what-you-watch-on-tv/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3858411687684871693?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-49977016882066955582011-10-27T09:47:00.000-04:002011-10-27T09:48:34.866-04:00GDP 3rd Quarter 2011: 2.5%<a href="http://3.bp.blogspot.com/-pxL8ELY1rx0/TqlhCmoVU3I/AAAAAAAAGbE/9JI4SlL2LZI/s1600/GDPQ3ADvance.jpg"><img id="BLOGGER_PHOTO_ID_5668168303379829618" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 265px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-pxL8ELY1rx0/TqlhCmoVU3I/AAAAAAAAGbE/9JI4SlL2LZI/s400/GDPQ3ADvance.jpg" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4997701688206695558?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-27141434516679923382011-10-27T09:44:00.001-04:002011-10-27T09:46:25.274-04:00Rising Incomes<a href="http://3.bp.blogspot.com/-1i0Qye7pH8M/Tqlgk-y8BtI/AAAAAAAAGa4/d5kBcSMXaJg/s1600/11-10-21_two_data_points.jpg"><img id="BLOGGER_PHOTO_ID_5668167794470684370" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 390px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-1i0Qye7pH8M/Tqlgk-y8BtI/AAAAAAAAGa4/d5kBcSMXaJg/s400/11-10-21_two_data_points.jpg" border="0" /></a><br /><br /><div><a href="http://timiacono.com/index.php/2011/10/21/two-related-data-points/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2714143451667992338?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-41687919111674360992011-10-27T09:22:00.001-04:002011-10-27T09:24:03.168-04:00Cartoon: Occupy Wall Street<a href="http://4.bp.blogspot.com/-XFG_7-a9wVE/TqlbaGh8ISI/AAAAAAAAGas/fos3yfhhs-A/s1600/11-10-21_hire_me1.jpg"><img id="BLOGGER_PHOTO_ID_5668162110010171682" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 264px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-XFG_7-a9wVE/TqlbaGh8ISI/AAAAAAAAGas/fos3yfhhs-A/s400/11-10-21_hire_me1.jpg" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4168791911167436099?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-60409142065357407912011-10-27T08:22:00.002-04:002011-10-27T08:23:43.280-04:00Who is the 1%?<a href="http://1.bp.blogspot.com/-CeTeMeodhxw/TqlNQaoAV1I/AAAAAAAAGag/jluIo3UbKxg/s1600/21270_thumb.gif"><img id="BLOGGER_PHOTO_ID_5668146550442841938" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 309px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-CeTeMeodhxw/TqlNQaoAV1I/AAAAAAAAGag/jluIo3UbKxg/s400/21270_thumb.gif" border="0" /></a>or<br /><br /><br /><div><a href="http://4.bp.blogspot.com/-DYfCS2l29Pc/TqlNPUcno3I/AAAAAAAAGaU/bgx5zhMyJxE/s1600/21266_thumb.gif"><img id="BLOGGER_PHOTO_ID_5668146531604603762" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 262px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-DYfCS2l29Pc/TqlNPUcno3I/AAAAAAAAGaU/bgx5zhMyJxE/s400/21266_thumb.gif" border="0" /></a><br /><br /><br /><br /><div></div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6040914206535740791?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-81798755129382824232011-10-24T13:53:00.001-04:002011-10-24T13:55:17.428-04:00National Debt by President<a href="http://3.bp.blogspot.com/-aDZocs9XT5U/TqWmb_sAgrI/AAAAAAAAGZQ/mKSDARXC8rc/s1600/der-streettalk-debt-accumulation-by-president-102111.png"><img id="BLOGGER_PHOTO_ID_5667118705998332594" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 177px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-aDZocs9XT5U/TqWmb_sAgrI/AAAAAAAAGZQ/mKSDARXC8rc/s400/der-streettalk-debt-accumulation-by-president-102111.png" border="0" /></a><br /><br /><div><a href="http://advisorperspectives.com/dshort/guest/Lance-Roberts-111021-Understanding-Federal-Debt.php">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8179875512938282423?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-10200934356001699882011-10-21T10:08:00.000-04:002011-10-21T10:10:16.377-04:00Crony CapitalismFrom the General Motors bailout to subsidies for Solyndra, crony capitalism is as serious a threat to liberty, free markets and civil society as ever. Cato Institute Senior Fellow Tom G. Palmer recently discussed <a href="http://studentsforliberty.org/college/the-morality-of-capitalism/" target="_blank">The Morality of Capitalism</a> (<a href="http://studentsforliberty.org/wp-content/uploads/2011/04/The-Morality-of-Capitalism-PDF.pdf" target="_blank">free pdf</a>), the financial crisis and cronyism at the John Locke Foundation.<br /><a href="http://www.amazon.com/Cato-Liberty/dp/B001AS5ASI/" target="_blank"></a><br /><a href="http://www.cato-at-liberty.org/crony-capitalism/">click for link to video of speech<br /></a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-1020093435600169988?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-56805184254620015672011-10-20T17:35:00.001-04:002011-10-20T17:36:56.742-04:00Top 1 Percent<a href="http://3.bp.blogspot.com/-7eup-N5JMSI/TqCUMxBJliI/AAAAAAAAGZA/gaqwCaPKhAs/s1600/chart-top-1-percent-2_top.gif"><img id="BLOGGER_PHOTO_ID_5665691278269584930" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 236px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-7eup-N5JMSI/TqCUMxBJliI/AAAAAAAAGZA/gaqwCaPKhAs/s400/chart-top-1-percent-2_top.gif" border="0" /></a><br /><br /><div>Well, there were just under 1.4 million households that qualified for entry. They earned nearly 17% of the nation's income and paid roughly 37% of its income tax.</div><br /><div><br />Collectively, their adjusted gross income was $1.3 trillion. And while $343,927 was the minimum AGI to be included, on average, Top 1-percenters made $960,000.</div><br /><div></div><br /><div><a href="http://money.cnn.com/2011/10/20/news/economy/occupy_wall_street_income/index.htm?iid=HP_LN">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5680518425462001567?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-6546656617495098362011-10-20T12:42:00.001-04:002011-10-20T12:45:26.189-04:00Cartoon: Meaning of Life<a href="http://4.bp.blogspot.com/-JbhEfnV-P_Y/TqBPilFPLaI/AAAAAAAAGY0/WyhghT60ZaU/s1600/thumb.jpg"><img id="BLOGGER_PHOTO_ID_5665615786720308642" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 309px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-JbhEfnV-P_Y/TqBPilFPLaI/AAAAAAAAGY0/WyhghT60ZaU/s400/thumb.jpg" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-654665661749509836?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-37687090559138207902011-10-20T10:42:00.002-04:002011-10-20T10:48:47.108-04:00Blame the Fed for the Financial CrisisRon Paul writes:<br /><br /><br /><blockquote>To know what is wrong with the Federal Reserve, one must first understand the nature of money. Money is like any other good in our economy that emerges from the market to satisfy the needs and wants of consumers. Its particular usefulness is that it helps facilitate indirect exchange, making it easier for us to buy and sell goods because there is a common way of measuring their value. Money is not a government phenomenon, and it need not and should not be managed by government. <strong><span style="color:#ff0000;">When central banks like the Fed manage money they are engaging in price fixing, which leads not to prosperity but to disaster.</span></strong><br /><br /><strong>The Federal Reserve has caused every single boom and bust that has occurred in this country since the bank's creation in 1913...</strong><br /><br />What the Austrian economists Ludwig von Mises and Friedrich von Hayek victoriously asserted in the socialist calculation debate of the 1920s and 1930s—<strong>the notion that the marketplace, where people freely decide what they need and want to pay for, is the only effective way to allocate resources</strong>—may be obvious to many ordinary Americans. But it has not influenced government leaders today, who do not seem to see the importance of prices to the functioning of a market economy...<br /><br />What exactly the Fed will do is anyone's guess, and it is no surprise that markets continue to founder as anticipation mounts. <strong>If the Fed would stop intervening and distorting the market, and would allow the functioning of a truly free market that deals with profit and loss, our economy could recover.</strong> The continued existence of an organization that can create trillions of dollars out of thin air to purchase financial assets and prop up a fundamentally insolvent banking system is a black mark on an economy that professes to be free.</blockquote><br /><a href="http://online.wsj.com/article/SB10001424052970204346104576637290931614006.html">read the entire WSJ essay</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-3768709055913820790?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-8514512464887096282011-10-20T09:54:00.001-04:002011-10-20T09:56:55.326-04:00Department of Defense<a href="http://3.bp.blogspot.com/-_Sj4HLy1thQ/TqAoPhpihsI/AAAAAAAAGYo/TdfvRUJLejw/s1600/defense.bmp"><img id="BLOGGER_PHOTO_ID_5665572578427832002" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 398px; CURSOR: hand; HEIGHT: 194px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-_Sj4HLy1thQ/TqAoPhpihsI/AAAAAAAAGYo/TdfvRUJLejw/s400/defense.bmp" border="0" /></a> <a href="http://comptroller.defense.gov/budget.html">This 129 page report cost $38,000. </a><br /><br /><strong>My thoughts:</strong> Bloated budget? <br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-851451246488709628?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-52995543910804279812011-10-19T10:16:00.000-04:002011-10-19T10:17:24.284-04:00Cartoon: Wall Street<a href="http://2.bp.blogspot.com/-dUl-oIX7BNM/Tp7b4Mi9_3I/AAAAAAAAGYc/B6oFlJeOjuo/s1600/bull-cuts.gif"><img id="BLOGGER_PHOTO_ID_5665207139765714802" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 280px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-dUl-oIX7BNM/Tp7b4Mi9_3I/AAAAAAAAGYc/B6oFlJeOjuo/s400/bull-cuts.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5299554391080427981?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-28871416960327873702011-10-19T09:55:00.002-04:002011-10-19T09:56:38.697-04:00Trade Deficit August 2011<a href="http://4.bp.blogspot.com/-1d_3UbahlQ8/Tp7W-e2SXjI/AAAAAAAAGYQ/vevKJE5nHN0/s1600/TradeDeficitAug2011.jpg"><img id="BLOGGER_PHOTO_ID_5665201750199655986" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 292px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-1d_3UbahlQ8/Tp7W-e2SXjI/AAAAAAAAGYQ/vevKJE5nHN0/s400/TradeDeficitAug2011.jpg" border="0" /></a><br /><br /><div><a href="http://www.calculatedriskblog.com/2011/10/summary-for-week-ending-oct-14th.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2887141696032787370?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-89245595614682749552011-10-19T09:52:00.001-04:002011-10-19T09:53:54.983-04:00Social Security COLA<a href="http://www.calculatedriskblog.com/2011/10/2012-social-security-cost-of-living.html"><img id="BLOGGER_PHOTO_ID_5665200948988906994" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 268px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-qogl1iJDTS8/Tp7WP2GwjfI/AAAAAAAAGYE/rU67gY1Z9m4/s400/COLA2011.jpg" border="0" /> source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8924559561468274955?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-40667188598532733062011-10-18T14:09:00.003-04:002011-10-18T14:12:03.811-04:002011 Budget Deficit: $1.298 Trillion<a href="http://2.bp.blogspot.com/-_2P9YR7UpJI/Tp3BDB7yVII/AAAAAAAAGX4/VTeMrAPRzbA/s1600/1111.jpg"><img id="BLOGGER_PHOTO_ID_5664896164104918146" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 353px; CURSOR: hand; HEIGHT: 322px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-_2P9YR7UpJI/Tp3BDB7yVII/AAAAAAAAGX4/VTeMrAPRzbA/s400/1111.jpg" border="0" /></a><br /><br /><div>The Congressional Budget Office recently finished tallying the revenue and spending figures for fiscal 2011, which ended September 30, and no wonder no one in Washington is crowing. The political class might have its political pretense blown. This is said to be a new age of fiscal austerity, yet the government had its best year ever, spending a cool $3.6 trillion. That beat the $3.52 trillion posted in 2009, when the feds famously began their attempt to spend America back to prosperity.</div><br /><div><br />What happened to all of those horrifying spending cuts? Good question. CBO says that overall outlays rose 4.2% from 2010 (1.8% adjusted for timing shifts), when spending fell slightly from 2009. Defense spending rose only 1.2% on a calendar-adjusted basis, and Medicaid only 0.9%, but Medicare spending rose 3.9% and interest payments by 16.7%. </div><br /><div><br />The bigger point: Government austerity is a myth. </div><br /><div></div><br /><div><a href="http://online.wsj.com/article/SB10001424052970204479504576637513885592874.html?mod=WSJ_Opinion_LEADTop">read the WSJ article</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-4066718859853273306?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-60890220192603495432011-10-18T10:06:00.003-04:002011-10-18T10:09:42.638-04:00Patents<a href="http://4.bp.blogspot.com/-k7YbDWTqFPs/Tp2IVDe8mlI/AAAAAAAAGXs/xZjMSFewlK8/s1600/patents.GIF"><img id="BLOGGER_PHOTO_ID_5664833801595689554" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 130px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-k7YbDWTqFPs/Tp2IVDe8mlI/AAAAAAAAGXs/xZjMSFewlK8/s400/patents.GIF" border="0" /></a><br /><br /><div>Samsung’s move to have iPhone 4S sales <a href="http://www.bbc.co.uk/news/business-15331272" included="null">banned</a> in Australia and Japan is just the latest battle in the patent war between Apple and Samsung. It follows the EU's <a href="http://www.zdnet.com/blog/btl/apple-gets-samsung-galaxy-tab-banned-in-eu-with-moronic-ruling/54501" included="null">banning</a> of the sale of Samsung’s Galaxy Tab (on hold for now). The war highlights the sorry state of the world’s patent laws...</div><br /><div></div><br /><div>The Apple/Samsung patent war is an example of patents at their worst. There’s a big deadweight loss associated with lawsuits and restrictions on commerce. And most of the challenges are completely spurious – should Apple really “<a href="http://www.bbc.co.uk/news/business-13124753" included="null">own</a>” the pattern of a four-column grid of apps on a tablet home screen, or the concept of a rectangular tablet computer? Apple and Samsung have created enormous value to a huge number of people, but in this case they're acting against consumer choice. Like blaming gravity for plane crashes or greed for financial crises, it's silly to blame the firms themselves. Fundamentally, it's the patent system that's at fault.</div><br /><div></div><br /><div><a href="http://www.adamsmith.org/blog/regulation-and-industry/do-not-feed-the-patent-troll/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6089022019260349543?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-71352219765785280482011-10-18T10:04:00.002-04:002011-10-18T10:05:28.153-04:00Soft Drink Sales 2010<a href="http://timwit.wordpress.com/2011/03/25/eye-popping-soft-drink-pie-chart/"><img id="BLOGGER_PHOTO_ID_5664832867593285506" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 285px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-jOIIfcFOad8/Tp2HesDa74I/AAAAAAAAGXg/EWae0BJgoGI/s400/pop_chart.png" border="0" /> source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7135221976578528048?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-4710473824538328422011-10-17T10:38:00.002-04:002011-10-17T10:39:19.954-04:00National Debt by President<a href="http://1.bp.blogspot.com/-6sIQ9QkAB98/Tpw9--MnnzI/AAAAAAAAGXU/l1E-sQkC0hM/s1600/nd.jpg"><img id="BLOGGER_PHOTO_ID_5664470583382351666" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 258px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-6sIQ9QkAB98/Tpw9--MnnzI/AAAAAAAAGXU/l1E-sQkC0hM/s400/nd.jpg" border="0" /></a><br /><br /><div><a href="http://www.ritholtz.com/blog/2011/10/us-debt-accumulation-by-president/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-471047382453832842?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-2723259818138004342011-10-17T08:17:00.001-04:002011-10-17T08:20:42.821-04:00Herbert Hoover and the New DealPoliticians and pundits portray Herbert Hoover as a defender of laissez faire governance whose dogmatic commitment to small government led him to stand by and do nothing while the economy collapsed in the wake of the stock market crash in 1929. In fact, Hoover had long been a critic of laissez faire. As president, he doubled federal spending in real terms in four years. He also used government to prop up wages, restricted immigration, signed the Smoot-Hawley tariff, raised taxes, and created the Reconstruction Finance Corporation—all interventionist measures and not laissez faire. Unlike many Democrats today, President Franklin D. Roosevelt's advisers knew that Hoover had started the New Deal. One of them wrote, "When we all burst into Washington ... we found every essential idea [of the New Deal] enacted in the 100-day Congress in the Hoover administration itself."<br /><br />Hoover's big-spending, interventionist policies prolonged the Great Depression, and similar policies today could do similar damage. Dismantling the mythical presentation of Hoover as a "do-nothing" president is crucial if we wish to have a proper understanding of what did and did not work in the Great Depression so that we do not repeat Hoover's mistakes today.<br /><br />from: Herbert Hoover and the New Deal <a href="http://www.cato.org/pubs/bp/bp122.pdf">(pdf)</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-272325981813800434?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-81435739553525429072011-10-13T10:14:00.002-04:002011-10-13T10:15:46.705-04:00Average Tax Rate 2009<a href="http://mjperry.blogspot.com/2011/10/warren-buffett-updates-he-sheltered.html"><img id="BLOGGER_PHOTO_ID_5662980089400273970" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 330px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-aAlrjBW0OPI/TpbyYzbQLDI/AAAAAAAAGXI/gUEjrZg18uA/s400/taxc.jpg" border="0" /> source<br /></a><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8143573955352542907?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-70785581574613867382011-10-12T09:17:00.001-04:002011-10-12T09:17:37.972-04:00Occupy Wall Street<a href="http://4.bp.blogspot.com/-ZM56iNDyQ3I/TpWTZMN4UsI/AAAAAAAAGW8/SknehbK7OJg/s1600/21115_thumb.gif"><img id="BLOGGER_PHOTO_ID_5662594167473722050" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 286px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-ZM56iNDyQ3I/TpWTZMN4UsI/AAAAAAAAGW8/SknehbK7OJg/s400/21115_thumb.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7078558157461386738?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-23891441792513424102011-10-11T12:26:00.000-04:002011-10-11T12:27:01.679-04:00Occupy Wall Street: Monopoly<a href="http://4.bp.blogspot.com/-N5TTTFDE81w/TpRuUa_0AXI/AAAAAAAAGWw/OICLJZKeIGo/s1600/OWS-M.jpg"><img id="BLOGGER_PHOTO_ID_5662271928634966386" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 400px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/-N5TTTFDE81w/TpRuUa_0AXI/AAAAAAAAGWw/OICLJZKeIGo/s400/OWS-M.jpg" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2389144179251342410?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-58463838751607352362011-10-10T09:53:00.000-04:002011-10-10T09:54:53.781-04:00Occupy Wall Street<a href="http://1.bp.blogspot.com/-sbriUEqZXW8/TpL5DpR6t9I/AAAAAAAAGWo/EsHKPiQmzq0/s1600/image001.png"><img id="BLOGGER_PHOTO_ID_5661861522574063570" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 268px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-sbriUEqZXW8/TpL5DpR6t9I/AAAAAAAAGWo/EsHKPiQmzq0/s400/image001.png" border="0" /></a><br /><br /><div><a href="http://mjperry.blogspot.com/2011/10/down-with-evil-corporations.html">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5846383875160735236?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-78140766861448034962011-10-08T08:48:00.000-04:002011-10-08T08:52:35.190-04:00Gary North on Voting<span style="font-family: georgia;">North writes:</span><br /><p style="font-family: georgia;"><span style="font-size:100%;"></span></p><blockquote><p style="font-family: georgia;"><span style="font-size:100%;">This world is governed by ethical cause and effect. <span style="font-weight: bold;">When people vote for a living, they create an economy that is dependent on more theft.</span> Theft-based economies are Ponzi schemes. It's not just Social Security that is a Ponzi scheme. So is Medicare. So is the FDIC. All governments over-promise. They ask us to become dependent on government promises. The governments issue more promises than taxes and borrowing can fund. Then they inflate.</span></p> <p style="font-family: georgia;"><span style="font-size:100%;">Government will prove to be the god that fails. That will be a good lesson in theology for hundreds of millions of voters. "Thou shalt not steal, except by majority vote" will prove to have been a destructive principle, although widely believed.</span></p></blockquote><p style="font-family: georgia;"><span style="font-size:100%;"></span></p><p><span style="font-family:Times New Roman, Times, serif;font-size:100%;"><a href="http://lewrockwell.com/north/north1045.html"><span style="font-family: georgia;">source</span></a><br /></span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-7814076686144803496?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-62582310337491231822011-10-07T15:54:00.001-04:002011-10-07T15:56:15.925-04:00Lew Rockwell on the Fascist ThreatLew Rockwell writes:<br /><br /><blockquote>Everyone knows that the term fascist is a pejorative, often used to describe any political position a speaker doesn’t like. There isn’t anyone around who is willing to stand up and say: "I’m a fascist; I think fascism is a great social and economic system."<br /><br />But I submit that if they were honest, the vast majority of politicians, intellectuals, and political activists would have to say just that.<br /><br />Fascism is the system of government that cartelizes the private sector, centrally plans the economy to subsidize producers, exalts the police State as the source of order, denies fundamental rights and liberties to individuals, and makes the executive State the unlimited master of society.<br /><br />This describes mainstream politics in America today. And not just in America. It’s true in Europe, too. It is so much part of the mainstream that it is hardly noticed any more.<br /><br />It is true that fascism has no overarching theoretical apparatus. There is no grand theorist like Marx. That makes it no less real and distinct as a social, economic, and political system. Fascism also thrives as a distinct style of social and economic management. And it is as much or more of a threat to civilization than full-blown socialism.<br /><br />This is because its traits are so much a part of life – and have been for so long – that they are nearly invisible to us.<br /><br />If fascism is invisible to us, it is truly the silent killer. It fastens a huge, violent, lumbering State on the free market that drains its capital and productivity like a deadly parasite on a host. This is why the fascist State has been called The Vampire Economy. It sucks the economic life out of a nation and brings about a slow death of a once thriving economy. </blockquote><br /><a href="http://lewrockwell.com/rockwell/fascist-threat192.html">read the entire essay</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6258231033749123182?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-59397921927193245002011-10-06T15:23:00.000-04:002011-10-06T15:25:46.709-04:00Cartoon: What is Apple's Future?<a href="http://3.bp.blogspot.com/-5gIuHcjG3zk/To4AnmNAA2I/AAAAAAAAGWg/DQ0OY-uB_YY/s1600/21059_thumb.gif"><img id="BLOGGER_PHOTO_ID_5660462461921264482" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 277px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-5gIuHcjG3zk/To4AnmNAA2I/AAAAAAAAGWg/DQ0OY-uB_YY/s400/21059_thumb.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-5939792192719324500?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-20316845419692012212011-10-06T07:37:00.002-04:002011-10-06T07:40:05.381-04:00RIP: Steve Jobs<a href="http://1.bp.blogspot.com/-r4JuFxWy0Xs/To2TLktb0CI/AAAAAAAAGWY/hyYYYONL9l4/s1600/rip_steve_jobs.png"><img id="BLOGGER_PHOTO_ID_5660342133716668450" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 268px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-r4JuFxWy0Xs/To2TLktb0CI/AAAAAAAAGWY/hyYYYONL9l4/s400/rip_steve_jobs.png" border="0" /></a><br /><br /><div>“No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true. </div><br /><div><br />Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” </div><br /><div><br />- Steve Jobs at the Stanford University commencement address in 2005 </div><br /><div></div><br /><div><a href="http://www.apple.com/stevejobs/">Apple's Tribute</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2031684541969201221?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com1tag:blogger.com,1999:blog-4169265487969878469.post-83746701122500164882011-10-06T07:29:00.003-04:002011-10-06T07:37:54.594-04:00Cartoon: Wall Street Protesters<a href="http://3.bp.blogspot.com/-lcxLRTYwhA0/To2RKKb_vZI/AAAAAAAAGWQ/d_qxJ7SvZx8/s1600/21053_thumb.gif"><img id="BLOGGER_PHOTO_ID_5660339910461078930" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 310px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-lcxLRTYwhA0/To2RKKb_vZI/AAAAAAAAGWQ/d_qxJ7SvZx8/s400/21053_thumb.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-8374670112250016488?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-6419405976619343942011-10-05T08:32:00.000-04:002011-10-05T08:33:36.233-04:00Cartoon: Wall Street Greed<a href="http://3.bp.blogspot.com/-jOQHw4todug/ToxOlzMtdLI/AAAAAAAAGWI/a5_EPFMgD1Y/s1600/21041_thumb.gif"><img id="BLOGGER_PHOTO_ID_5659985243003516082" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 315px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-jOQHw4todug/ToxOlzMtdLI/AAAAAAAAGWI/a5_EPFMgD1Y/s400/21041_thumb.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-641940597661934394?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-3888282864689123672011-10-04T12:49:00.000-04:002011-10-04T12:50:31.852-04:00Minimum Wage Increases<a href="http://1.bp.blogspot.com/-CGcqU1eEwvQ/Tos5O5a4acI/AAAAAAAAGWA/1JmYA762CLg/s1600/chart-minimum-wage-rises_top.jpg"><img id="BLOGGER_PHOTO_ID_5659680284815681986" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 248px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-CGcqU1eEwvQ/Tos5O5a4acI/AAAAAAAAGWA/1JmYA762CLg/s400/chart-minimum-wage-rises_top.jpg" border="0" /></a><br /><br /><div><a href="http://money.cnn.com/2011/10/03/news/economy/minimum_wage/index.htm?iid=HP_LN">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-388828286468912367?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-26825143964265150942011-10-04T09:55:00.002-04:002011-10-04T12:51:02.566-04:00Investment is Lagging<a href="http://1.bp.blogspot.com/-plzPx1MhIjc/TosQejrB-3I/AAAAAAAAGVw/sKH3zxhR8aA/s1600/investmentless.jpg"><img id="BLOGGER_PHOTO_ID_5659635473879006066" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 284px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-plzPx1MhIjc/TosQejrB-3I/AAAAAAAAGVw/sKH3zxhR8aA/s400/investmentless.jpg" border="0" /></a><strong> My thoughts:</strong> Regime uncertainty anyone?<br /><br /><a href="http://mjperry.blogspot.com/2011/10/sub-par-investment-less-recovery.html">source<br /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2682514396426515094?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-64454073576817882802011-10-03T09:51:00.001-04:002011-10-03T09:52:48.730-04:00Is Social Security a Ponzi Scheme<a href="http://3.bp.blogspot.com/-Cuf3va6YH4w/Tom-IG0rKfI/AAAAAAAAGVo/MPFen_50eyA/s1600/venn-diagram-social-security-ponzi-scheme-630.png"><img id="BLOGGER_PHOTO_ID_5659263453247515122" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 292px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/-Cuf3va6YH4w/Tom-IG0rKfI/AAAAAAAAGVo/MPFen_50eyA/s400/venn-diagram-social-security-ponzi-scheme-630.png" border="0" /></a><br /><br /><div><a href="http://motherjones.com/mojo/2011/08/social-security-not-ponzi-scheme-venn-diagram">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-6445407357681788280?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-25929249358385908082011-09-29T09:23:00.001-04:002011-09-29T09:25:52.421-04:002nd Quarter GDP: Revised Up to 1.3%<a href="http://2.bp.blogspot.com/-2nq3SGIC9Ac/ToRxiQZ25gI/AAAAAAAAGU0/IDT6Jqp8W_M/s1600/11-10-02_gdp.png"><img id="BLOGGER_PHOTO_ID_5657771865217099266" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 284px; TEXT-ALIGN: center" alt="" src="http://2.bp.blogspot.com/-2nq3SGIC9Ac/ToRxiQZ25gI/AAAAAAAAGU0/IDT6Jqp8W_M/s400/11-10-02_gdp.png" border="0" /></a><br /><br /><div><a href="http://timiacono.com/index.php/2011/09/29/q2-gdp-revised-up-to-1-3-rate/">source</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-2592924935838590808?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0tag:blogger.com,1999:blog-4169265487969878469.post-7536891694329675072011-09-29T08:28:00.000-04:002011-09-29T08:29:29.131-04:00Cartoon: The Shrinking Middle Class<a href="http://1.bp.blogspot.com/-Qsw94AUVeJk/ToRkoO_mClI/AAAAAAAAGUs/6K-hLlYoL_c/s1600/20979_thumb.gif"><img id="BLOGGER_PHOTO_ID_5657757674266561106" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 314px; TEXT-ALIGN: center" alt="" src="http://1.bp.blogspot.com/-Qsw94AUVeJk/ToRkoO_mClI/AAAAAAAAGUs/6K-hLlYoL_c/s400/20979_thumb.gif" border="0" /></a><br /><br /><div></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4169265487969878469-753689169432967507?l=mayfieldeconclass.blogspot.com' alt='' /></div>Mayfieldnoreply@blogger.com0