Doctor Cleveland's picture

    Teaching Shakespeare and the New Normal

    My profession has a lot of annual rituals, some obvious and some not, and one of them happened the week before last: the annual job list went live (and, in another annual ritual, came precariously close to crashing for the first afternoon).

    Doctor Cleveland's picture

    How They Measure the "End" of a Recession

    So, despite the way the economy feels in your neighborhood, there's been an official statement that the recession ended last June. Yup. All over. That is a perfectly sound statement at the same time it doesn't mean what the rest of us mean by "end of the recession."

    Doctor Cleveland's picture

    What Happened to America's Economy


    We're always told that economics is a complicated science, which is true, but also that bottom-line practical economics is very simple. But the simple rules we've all learned seem to have landed us into an incomprehensible mess. Let me try to recap what's happened.

    Obviously, every business needs to make a profit to survive. This is done by keeping costs lower than revenues. If you're selling something, you need to make more money selling it than you spend in making or buying the product and in paying your workers.

    William K. Wolfrum's picture

    Austerity in Greece leading to Civil War, not a good economy

    Shockingly, turning the population upside down and shaking them to collect loose change isn’t working out as well as the EU or Greece hoped. From Der Spiegel:

    William K. Wolfrum's picture

    William K. Wolfrum’s Morning – July 27, 2010

     


    Paul Briggs does an outstanding imitation of how the Obama Administration handled the Shirley Sherrod video nontroversy.

    William K. Wolfrum's picture

    British Petroleum Lobbied for Lockerbie Bomber release - oil for terrorists

    One must wonder if Republicans will be standing up for British Petroleum and their profits after this latest headline: “BP lobbied U.K. ahead of Lockerbie bomber release.”

    LONDON — BP confirmed Thursday that it had lobbied the British government over a prisoner transfer agreement with Libya in late 2007 before the release of Lockerbie bomber Abdel Baset al-Megrahi.

    William K. Wolfrum's picture

    Sea Turtles: Crazed Death Machines That Should Be Burned Alive

    If a Sea Turtle could, it would murder you with its bare hands. And liberal environmentalists would like nothing more than to allow this ancient species to gain the power they’ve always slowly plotted.

    Sea Turtles are often portrayed as wise, harmless keepers of the deep. But such a description couldn’t be further from the truth. The fact is this – Sea Turtles are monstrous man-eaters that make Great White Sharks look like otters.

    William K. Wolfrum's picture

    Jack Welch – a $700-million populist spokesman

    Jack Welch – former CEO of General Electric, Net worth, $720 million – had this to Tweet recently:

    I wish the President would stop dividing us..Every day he has a new villain..bank execs, insurance companies, doctors, hedgefund managersetc

    Doctor Cleveland's picture

    Libertarian Wonderland Is Not So Great

    It is a truth universally acknowledged that lower taxes and smaller government lead to economic growth, while higher taxes and bigger government hold the economy back. And like many truths that are universally acknowledged, it is frequently contradicted by easily observable facts and that makes no difference. Economics especially seems to be full of these ironclad universal rules that only hold true some of the time, in elegantly controlled micro-economic examples.

    William K. Wolfrum's picture

    InterOil (IOC): A (unreported) family affair?

    Not long ago, actor Shia LaBeouf, star of the upcoming “Wall Street II,” delved into the world of advising investors, as he had these kind words to say about InterOil:

    “IOC’s momentum is major, and it will surprise to the upside,” texted LeBeouf to a GQ writer.

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    Doctor Cleveland's picture

    The Ivy League/Wall Street Connection

    Ezra Klein recently tried to answer the question "Why is Goldman Sachs full of Ivy Leaguers?" by interviewing a Harvard/Goldman alum. (h/t to a righteously repulsed DougJ).

    William K. Wolfrum's picture

    Gizmodo vs. Goldman Sachs

    If there’s one thing we can say for sure, it’s this: Those Gizmodo guys will get a much worse punishment for having that iPhone than anyone at Goldman Sachs will get for bilking their investors.

    –WKW

     

    Crossposted at William K. Wolfrum Chronicles

    Doctor Cleveland's picture

    The One-Two Punch of Wall Street Reform

    Some conservatives have accused President Obama of timing the Goldman Sachs lawsuit to make it easier to pass Wall Street Reform. It's not true, but the conservatives' anger at the alleged tactic is a sign of what a good idea that tactic is. It's the right general thing to do, and Obama should do a lot more of it.

    William K. Wolfrum's picture

    Pope Benedict XVI takes over at Goldman Sachs

    NEW YORK/ROME — Catholic Pope Benedict XVI has taken over all responsibilities at troubled Goldman Sachs, today. His new title will be Chief Holy Authority (CFA) or just “Pope.”

    The Pope will keep his duties with the Catholic Church while working simultaneously at Goldman Sachs. The Pope stated he saw no problems for the giant financial firm that is currently in trouble with the SEC.

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