UPDATE: It appears that I misinterpreted the cited data on home sales, though I elect to shift the blame to the poor labeling of the Census Bureau data set (linked in original text).  The 33,000 per month I cited reflects only new home sales.  The correct number for monthly home sales is well over 400,000 per month.  However, one is left to wonder whether, in lack of the $8,000 first time home buyer tax credit, demand for home sales would…

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The recent announcement that the GDP grew in the third quarter at an annualized rate of 3.5 percent was referred to by Treasury Secretary Tim Geithner as proof that the economy is finally improving.  But a quick glance at history demonstrates that this is not the case.

Between 1934 and 1937—during the heart of the Great Depression—GDP grew at by an average of 9.5 percent annually.  In 1934, GDP grew by nearly 11 percent, but it would be six more years…

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Your host Richard Morrison welcomes returning guest co-host William Yeatman and special guest commenter Ryan Radia to the program for Episode 61 of the LibertyWeek podcast. We start with the FCC’s just-announced proposal for “net neutrality,” Treasury documents that reveal the true cost of cap-and-trade legislation and the plan for getting over California’s great depression. We then move on to the G20 Summit’s potential path to prosperity and the ever-expanding scandal that is ACORN.

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Here’s a letter I sent recently to The New York Times:

To the Editor:

Eric Zencey’s article “G.D.P. R.I.P” (August 10) correctly points out that GDP has limited usefulness in measuring well-being. But his case is muddled by confusing money with wealth. Money is a unit of measure, like a mile or a ton. But it is not itself wealth.

He writes, “If you get into a fender-bender and have your car fixed, G.D.P. goes up.” It actually stays the same. If I…

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President Obama and Congress need an intervention.

Here are the guidelines for an individual’s debt to income ratio:

What’s a good debt-to-income ratio?
36% or less
This is where you want to be.

37% to 42%
You may want to start paying your debts down before you incur financial difficulties.

43% to 49%
This is a high debt-to-income ratio. You may want to take immediate action to reduce your debt.

Above 50%
You should seek professional financial advice to reduce your debt.

Perhaps China is available?

…

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