Author: Curt Doolittle

There is no increase in inequality. There is a change in the composition of households. Data is data is data. The change is caused by changes in who marries who, women in the workforce, devolution of the family, and immigration. It is what it is. So can we stop this ridiculous conversation now?

http://abcnews.go.com/International/german-shepherd-saved/story?id=14835907

Positive news from Karl:

“Non-residential fixed investment is on fire. Equipment and Software is burning it up at a 17% growth rate. Indeed, non-residential fixed investment contributed almost as much to growth as did consumption. Not grew at the same rate as consumption, but the absolute increase in business investment was almost as great as the absolute increase in consumption.”

“An open question is how long this blistering level of Business Investment can keep going. It’s a little crazy at this point. We are still below normal on capacity utilization. Real retail sales have yet to make new highs.”

Karl Smith: Is Apple Evidence Against Austrians? http://www.capitalismv3.com/index.php/2011/10/karl-smith-is-apple-evidence-against-austrians/

http://www.capitalismv3.com/index.php/2011/10/karl-smith-is-apple-evidence-against-austrians/The Zombie Philosophy Of The Progressive Left Economists

http://blogs.wsj.com/economics/2011/10/25/a-look-at-case-shiller-by-metro-area-5/tab/interactive/Seattle/Portland (Northwest) home prices continue their decline.

I should go through my email from 2004-2006 and see how many people said I was out of my mind. Nope. Wasn’t. And Im in the camp that says it won’t get better for a very, very long time. Originally I said 2014, but maybe as long as 2020. How to fix it? How to fix the economy? Do what I recommended in 2007, what Galbraith recommended in 2008, and what a few major economists are just now recommending – buy down mortgages. But it’s too political. Instead, we have to adjust world wide prices and endure unemployment. I’m a libertarian. I don’t like it. But ethically, if the state creates a problem the state can surely fix the problem.

http://lewrockwell.com/rockwell/the-evil-1-percent194.htmlProtesting the wrong 1%

Krugman Watch: Austerity Class? Or is it a Starve-The-Beast Class? http://www.capitalismv3.com/index.php/2011/10/krugman-watch-austerity-class-or-is-it-a-starve-the-beast-class/

http://blog-imfdirect.imf.org/2011/10/21/growing-pains-europes-dilemma/”It is much easier for poor countries to grow faster than it is for rich countries because they can import technology they do not already have. It is much more difficult to grow fast if you are already rich and at the technology frontier—now you can only get richer by innovation.” -Bas Bakker

This is a basic law of economics. It’s immutable. But that doesn’t stop people from ignoring it….

http://www.capitalismv3.com/index.php/2011/10/krugman-watch-austerity-class-or-is-it-a-starve-the-beast-class/Krugman Watch: framing the debate by tactics not strategy as a means of undermining the argument.