22 | January | 2013

Friday, May 24, 2013

Economic theory applied to combating ‘wine scalping’

Mark J. Perry | January 22, 2013, 4:21 pm

From the Wine Spectator Blog: How much would you pay for a bottle of California Sauvignon Blanc? The only wine from that category to ever earn a classic rating, the 2007 Merry Edwards Russian River Valley (96 points), cost $29, … read more >

Economics, Pethokoukis, U.S. Economy

Here’s why we might actually be winning the war on poverty

James Pethokoukis | January 22, 2013, 3:58 pm

I am skeptical of all economic statistics showing Americans no better off than they were 30 or 40 years ago. This new study makes me even more confident in that stance. Winning the War: Poverty from the Great Society to the … read more >

Carpe Diem

Remodeling Market Index was near a 9-year high in Q4 2012

Mark J. Perry | January 22, 2013, 3:11 pm

Another postive report on the US housing market, this one from the National Association of Home Builders, which reported yesterday that home remodeling activity in the US was near a near nine-year high in Q4 of last year: The Remodeling Market Index (RMI) reached 55 … read more >

Economics, Pethokoukis

New study: Gold won’t save you from hyperinflation or zombie apocalypse

James Pethokoukis | January 22, 2013, 3:00 pm

A new NBER working paper, “The Golden Dilemma”, looks at the investment history — and possible investment future — of gold. Many fascinating nuggets and charts in the research. Especially interesting is its negative take on gold as a safe-haven … read more >

Politics and Public Opinion, Elections

A reflection on the 2012 campaign

Andrew Biggs | January 22, 2013, 2:45 pm

On inauguration day, attention briefly turned to President Obama’s campaign opponent, former Massachusetts Gov. Mitt Romney, who has largely withdrawn from public life since his loss to Obama. But that’s okay, it seems. Romney’s son Tagg told U.S. News & … read more >

Economics, Pethokoukis, Taxes and Spending

Phil Mickelson, taxes, and the Laffer Curve

James Pethokoukis | January 22, 2013, 1:33 pm

At what point does raising top marginal tax rates lose more tax revenue than it takes in? Where is the peak of the Laffer curve? Pro golfer Phil Mickelson thinks he has a pretty good idea: “I’m not sure what … read more >

Carpe Diem

More signs that 2012 was the year of the housing recovery

Mark J. Perry | January 22, 2013, 1:03 pm

Some highlights from today’s report on existing-home sales from the National Association of Realtors for December: 1. The median sales price for homes sold in December of $180,800 was an increase of 11.5% from December a year earlier, and was … read more >

Politics and Public Opinion, Polls

Polling versus Obama’s second inaugural address

Andrew Rugg | January 22, 2013, 12:23 pm

The chief argument animating President Obama’s second inaugural speech was that the expansion of government does not threaten individual liberty, it enhances it. Obama claimed that “the commitments we make to each other – through Medicare, and Medicaid, and Social … read more >

Economics, Pethokoukis, Regulation

Obama’s consumer finance agency just handed down 3,000 pages of new mortgage lending rules. Now, a lesson on unintended consequences …

James Pethokoukis | January 22, 2013, 12:12 pm

In his inaugural address, President Obama made the case for a more active and intrusive government. As my pal Bob Stein of First Trust Advisors tweeted: “Obama’s 2nd Inaugural Address was, in its essence, a rebuttal to Reagan’s 1st, 32 … read more >

Economics, Taxes and Spending

Cantos on the Debt Ceiling

Stan Veuger | January 22, 2013, 12:00 pm

There is an empty soda can lying on the street at the beginning of the road. Annoying. Will it be kicked all the way down the road? There are two people standing next to the can. One of them, Barry, … read more >