Friday, November 06, 2009

Oooooh, this should get exciting. We might have a tit for tat trade war and at the same time deflate Obama's claim that green industries can create massive jobs in the US.

If it is cheaper to manufacture components else where then why would the US gov and the wind farm companies want to waste dollars purchasing US components. If the US components add more value, that would be a different story.

Thursday, November 05, 2009

Globalization Works

More research showing that globalization works. From Paul Kedrosky

Using the official $1/day line, we estimate that world poverty rates have fallen by 80% from 0.268 in 1970 to 0.054 in 2006. The corresponding total number of poor has fallen from 403 million in 1970 to 152 million in 2006. Our estimates of the global poverty count in 2006 are much smaller than found by other researchers. We also find similar reductions in poverty if we use other poverty lines. We find that various measures of global inequality have declined substantially and measures ofglobal welfare increased by somewhere between 128% and 145%.

Wednesday, November 04, 2009

Why Can't the NYTimes Fire Paul Krugman for making up stuff

If the Times had any sense of integrity they should can Paul Krugman for making up stuff and spreading falsehoods.

Case in point, Krugman's trashing of SuperFreakanomics.

[So where do Levitt and Dubner claim that global cooling was the consensus in the 1970s? They don't say that. Krugman just made that up. Talk about grossly misrepresenting other people's research.

Where do Levitt and Dubner imply that Weitzman's paper urges weaker action on global warming? They don't imply that. Krugman just made that up. Because it's "just the basic issue of representing correctly what other people said."]

[Paul is rebutting claims I did not make, and he is giving Team Obama more credit on this question than it is due.]

Shame on the NYTimes for keeping Paul Krugman.

Tuesday, November 03, 2009

The first academic analysis of the investment in banks by the Treasury in 2008 using TARP was worth it.

[We analyze the market response to the revised Paulson plan and show that, systemic
effects aside, this plan adds $132bn to the banking sector at a taxpayers cost of between
$15 and $47bn, with a net benefit between $84 bn and $107bn.]