21 | November | 2012

Friday, May 24, 2013

Moral authority in US drug policy is being reclaimed by the American people, and message is echoing around the world

Mark J. Perry | November 21, 2012, 9:08 pm

1. ASSOCIATED PRESS — “Mexican President Felipe Calderon says the legalization of marijuana for recreational use in two U.S. states limits America’s ‘moral authority’ to ask other nations to combat or restrict illegal drug trafficking. Calderon says the legalization of … read more >

Carpe Diem

Wednesday afternoon links

Mark J. Perry | November 21, 2012, 5:01 pm

1. Ending an era dating back to 1873, the U.K. just manufactured its last manual typewriter. 2. Timelapse: Chicago to L.A. on Route 66 in 3 Minutes. 3. Markets in Everything: San Diego machine shop sells legally untraceable guns, because … read more >

Carpe Diem

Giving thanks for the invisible hand, the kaleidoscopic energy and productivity of the free market, and no turkey czar

Mark J. Perry | November 21, 2012, 3:38 pm

Like in previous years, most of you probably didn’t call your local supermarket ahead of time and order a Thanksgiving turkey this year. Why not? Because you automatically assumed that a turkey would be there when you showed up, and … read more >

Pethokoukis

What to be thankful for? Innovation, creative destruction, and the Revaluation

James Pethokoukis | November 21, 2012, 2:58 pm

“Give a woman some rice, and you save her a day. That’s the simplest form of what Christians flatter themselves by calling “Christian charity.” Give a man some seed and you save him for a year. That’s the plan of … read more >

Image Credit: Medill DC (Flickr) (CC BY 2.0)

Pethokoukis

In a new paper, Fed again declines to admit its role in the Great Recession

James Pethokoukis | November 21, 2012, 1:47 pm

The St. Louis Fed has released a historical analysis of the Federal Reserve’s responses to financial crises. I find the whole thing interesting, but also a little irksome. The paper points out that “no banking panics occurred during the Fed’s … read more >

Carpe Diem

Zillow: US home prices gained 4.7% annually and 1.2% monthly in October, largest increases in more than 6 years

Mark J. Perry | November 21, 2012, 12:50 pm

Today’s report from Zillow Real Estate Research on October home prices: Zillow’s October Real Estate Market Reports, released today, show that national home values rose 1.1% from September to October to $155,400 (Figure 1). This is the largest monthly increase … read more >

Foreign and Defense Policy, Europe and Russia

France’s faux outrage over alleged U.S. cyber espionage

Marc Thiessen | November 21, 2012, 11:51 am

The Drudge headline this am reads “Cyberguerre! France Accuses USA of Hacking!” The story, from The Hill, reports: The United States used U.S.-Israeli spy software to hack into the French presidential office earlier this year, the French cyberwarfare agency has concluded, … read more >

Paul Krugman's Strange Ireland Prediction

Pethokoukis

When it comes to economic policy, liberal pundits are failing their liberal base

James Pethokoukis | November 21, 2012, 11:40 am

Since the election, liberals have been hammering much of the right-of-center punditocracy for predicting a Romney victory. The bad forecasts, they argue, represent a rejection of math and science since basic statistical modeling showed a huge likelihood of an Obama … read more >

130

Economics

Crony capitalism and a ‘Nutella tax’ on France’s workers

Nick Schulz | November 21, 2012, 10:31 am

The New York Times recently ran a fascinating op/ed piece on “France’s nutty socialism” pointing out that the growth of the French state is now prompting punitive measures on the poor and the working class. [T]the Socialists plan to quadruple … read more >

Economics, Pethokoukis

How does the stock market do after changes in capital gains tax rates?

James Pethokoukis | November 21, 2012, 9:02 am

Jason DeSena Trennert of Strategas: The capital gains tax has been raised three times since 1969. The first two times were in isolation and were followed by market selloffs. The last tax increase was part of comprehensive tax reform in 1986 which … read more >