A Thousand Pictures Is Worth One Word - By Jeff Clark (5/8/11) PDF Print E-mail
Jeff Clark   
Friday, 05 August 2011 09:41

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Debt Ceiling Madness - Why Kicking The Can Down The Road Solves Absolutely Nothing - By Bill Bonner (4/8/11) PDF Print E-mail
Bill Bonner   
Thursday, 04 August 2011 09:53

Daily Reckoning

First, we turn to the news. And what do we find? Netscape's Money & Business has this report:

The House on Monday evening passed a bill that would raise the U.S. debt limit by at least $2.1 trillion and cut spending by a similar amount over the next decade. The agreement was reached Sunday night by congressional leaders and President Barack Obama. The Senate is expected to approve it on Tuesday, and it will go to Obama, who has indicated he will sign it.

If you read that fast enough, and drink enough whiskey, you might even think the feds have the situation in hand. Cut spending by an amount equal to the debt ceiling hike...hmmm....sounds almost like you come out even.

But wait, these are two very different things. If you would come out even, there would be no need to increase the debt ceiling. Instead, the deal allows both spending and the debt to go up. It will go up $2.1 trillion...and then, they'll raise the debt ceiling again.



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What Investors Need To Know About America's Debt Crisis (Hint: The Ceiling Doesn't Matter!) - By Chris Mayer (4/8/11) PDF Print E-mail
Chris Mayer   
Thursday, 04 August 2011 09:51

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The Price Of Gold On December 30, 2011 - By Jeff Clarke (3/8/11) PDF Print E-mail
Jeff Clarke   
Wednesday, 03 August 2011 08:36

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The Economics Of Coupons And Other Price Cuts - By Robert P. Murphy (3/8/11) PDF Print E-mail
Robert P. Murphy   
Wednesday, 03 August 2011 08:17

Mises Daily

My local grocery store has an affiliated gas station that offers ten cents off per gallon for every $100 spent on groceries. I provoked a discussion on Facebook by asking whether I should use my accumulated points every time I fill up the tank, or whether it makes more sense to only use the option periodically in order to get a bigger discount.

We quickly agreed that so long as I only fill up when my tank is nearly empty, I should always use the points available. In other words, there is no advantage in strategically holding on to my points.

This was what I had been doing, and the exercise was mostly just a nod to the serious economics geeks who have befriended me on the social network. What concerned me, however, was that some people — presumably fans of Austrian economics — thought there was something fishy in the whole concept of price discounts.



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