The Federal Open Market Committee began its two day September meeting yesterday, where it will consider raising the short-term policy rate, or the guidance on that rate. It has been nine years since the committee […]
Read moreJohn C. (Jack) Bogle graduated from Princeton University in 1951 and founded The Vanguard Group, Inc. in 1974. In 1975, Vanguard introduced the first so-called “Index Fund” based on the Standard and Poor 500 (S&P500) […]
Read morePreviously published on August 29, 2015 on NewGeography.com I recently made a couple of tweets/Facebook posts pointing out that market declines threaten California’s budget surplus. I referenced articles in the WSJ and Bloomberg, and I […]
Read moreIn general, we expect that a beginner or novice in a field is likely to be out-performed by a seasoned veteran. We would be surprised if a beginner could build a better house than a […]
Read moreBryan Caplan at George Mason University and the Library of Economics and Liberty has a couple of posts on medical screening and treatment. First, Caplan shares data on prostate cancer. It turns out that screening does […]
Read moreNobel economist Edmond S Phelps has a piece, What is Wrong with the West’s Economies? He discusses the alarming slowdown in western economies dating back to the 1960s, a lack of what he call flourishing or […]
Read more“It’s no longer legal to say, ‘We don’t want African-Americans to live here,’ but you can say, ‘I’m going to make sure no one who makes less than two times the median income lives here,’” […]
Read moreOnce a year, the U.S. Bureau of Economic Analysis (BEA) releases a new set of economic growth estimates that include not yet released numbers for the second quarter and revisions to historical GDP estimates as […]
Read moreHere’s the first paragraph from a FED press release of July 20th: The Federal Reserve Board on Monday approved a final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen […]
Read moreCalifornia’s water regulatory environment is a mess. One result is that it’s expensive and often arbitrary. It’s expensive to support, but that’s the not biggest cost. The real loss is in the efficient use of […]
Read moreI’ve argued for some time that services for the wealthy will be a major source of Coastal California jobs in coming years. As people become more wealthy, they increase their specialization. That is, wealthy people […]
Read moreA few years ago, I was convinced that Greece would have to leave the European Union within months. So, I made some bets. Of course, I lost those bets. At the time, I attributed my […]
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