Random Links XXV

Economics & the American Revolution:

http://www.nytimes.com/2008/11/30/weekinreview/30arango.html

Bernanke Deflation Speech:

http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm

Aka the “Helicopter Speech”.

Lehman Downfall:

http://nymag.com/news/business/52603/

Japan & Quantitative Easing:

http://www.creditwritedowns.com/2008/12/a-note-on-japans-experiment-with-quantitative-easing.html

Restive Chinese Migrant Workers:

http://online.wsj.com/article/SB122816637753369999.html

May you live in interesting times.

100 year Treasuries:

http://www.bloomberg.com/apps/news?pid=20601009&sid=azGBEQQJhY24&refer=bond

http://www.portfolio.com/views/blogs/market-movers/2008/12/03/should-treasury-issue-100-year-bonds

http://alephblog.com/2008/11/26/the-occasional-seemingly-free-lunch/

Quants:

http://creditspectrum.blogspot.com/2008/12/state-of-financial-engineering.html

http://www.sciam.com/article.cfm?id=after-the-crash&print=true

http://economistsview.typepad.com/economistsview/2008/11/quants-did-it.html

Chinese Imbalances, Great Depression, & Stimulus:

http://www.ft.com/cms/s/0/027b1efc-c0a4-11dd-b0a8-000077b07658.html

http://www.nakedcapitalism.com/2008/12/martin-wolf-says-big-stimulus-programs.html

Colleges & Recession:

http://online.wsj.com/article/SB122826544902474353.html

http://www.nytimes.com/2008/12/03/education/03college.html

Economic Predictions:

http://blog.beliefnet.com/crunchycon/2008/12/riding-out-the-economic-storm.html

Health Care Bread & Circuses:

http://online.wsj.com/article/SB122826686559774533.html

http://www.politicalaffairs.net/article/articleview/7722/

Read between the lines, and we have liberals – supporters of single payer, etc. – clearly recognizing the “bread & circuses” potential of health care reform.  I.e., by turning government into a provider for citizens’ personal economic well-being, one is able to win votes.  Or, put another way, making citizens dependent upon government gives those citizens a vested interest in voting to maintain or increase the benefits that accrue to them, personally, from said dependence; which in turn gives citizens an incentive to vote for those who will increase such benefits (and hence said dependence).  ISTR Hayek mentioning something about the dangers of such dependence in The Road to Serfdom….

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