How Rich Are You?
W. Michael Cox and Richard Alm have an Op-Ed piece in today's New York Times, arguing that the true measure of wealth is not how much money you and your property earn in a given year, but how much you spend. They present some interesting statistics worth a look.
Texans Plan to Blanket State in Concrete and Asphalt:
The state government in Texas has set forth a plan to pave over much of the state with a network of 4,000 miles of toll roads, as reported in today's New York Times. The proposal calls for an estimated expenditure of $184 billion, so you can figure the actual cost would be closer to $400 billion.
Texas, which has become the fastest growing state, exceeding California last year by some 200,000 new residents, is the main corridor for goods coming into the U. S. from Mexico.
The question here is why build a massive highway system to ship these goods when it makes far more sense to ship by rail, an environmentally more friendly mode of moving goods and at a cost that would probably be equivalent to one-third the price per pound of goods shipped?
The answer as always is that highway construction is ultimately about siphoning taxpayer money out of the hands of the many into the pockets of the few. George W. Bush proved just how successful that could be. For him and the people who manage him.
Are Things Actually Changing?
The New York Times claims that Yahoo "plans to reject Microsoft’s $44.6 billion hostile bid." The rumor is that Yahoo claims that the bid undervalues the stock, although stock analysts have estimated the bid as considerably higher than its current value. Sounds like Google whispering in the ears of the Yahoo board of directors.
In the meantime, Microsoft is expected to continue its pursuit. Bill Gates has asserted all along that his mega-moneyed kingdom resided on a precipice. Software is too ethereal a product (or is it a service?) to serve as a solid foundation. If Microsoft bets the bank in its Monte Carlo bid, could this be the beginning of the end? "You gotta know when to fold 'em."
A Momentary Aside:
I don't know how things are where you are, but here, the snow is coming down side-ways outside my office window. And then the sun comes back out. Ah, February …
And Now Celebrating Over Sixty Years of Peace:
Outside of Yugoslavia, Europe has not hosted a single war since 1945. (Sorry, conservatives, the Cold War doesn't count.) This isn't the first extensive period of peace in Europe. Between the Battle of Waterloo and 1914, Europe witnessed only one war, in 1871. Should we be worried that so much militaristic idleness will eventually bring about something like the catastrophic events that transpired between 1914 and 1945, a period future historians may refer to as The Second Thirty Years War? Geoffrey Wheatcroft addresses the question in today's New York Times.
W. Michael Cox and Richard Alm have an Op-Ed piece in today's New York Times, arguing that the true measure of wealth is not how much money you and your property earn in a given year, but how much you spend. They present some interesting statistics worth a look.
Texans Plan to Blanket State in Concrete and Asphalt:
The state government in Texas has set forth a plan to pave over much of the state with a network of 4,000 miles of toll roads, as reported in today's New York Times. The proposal calls for an estimated expenditure of $184 billion, so you can figure the actual cost would be closer to $400 billion.
Texas, which has become the fastest growing state, exceeding California last year by some 200,000 new residents, is the main corridor for goods coming into the U. S. from Mexico.
The question here is why build a massive highway system to ship these goods when it makes far more sense to ship by rail, an environmentally more friendly mode of moving goods and at a cost that would probably be equivalent to one-third the price per pound of goods shipped?
The answer as always is that highway construction is ultimately about siphoning taxpayer money out of the hands of the many into the pockets of the few. George W. Bush proved just how successful that could be. For him and the people who manage him.
Are Things Actually Changing?
The New York Times claims that Yahoo "plans to reject Microsoft’s $44.6 billion hostile bid." The rumor is that Yahoo claims that the bid undervalues the stock, although stock analysts have estimated the bid as considerably higher than its current value. Sounds like Google whispering in the ears of the Yahoo board of directors.
In the meantime, Microsoft is expected to continue its pursuit. Bill Gates has asserted all along that his mega-moneyed kingdom resided on a precipice. Software is too ethereal a product (or is it a service?) to serve as a solid foundation. If Microsoft bets the bank in its Monte Carlo bid, could this be the beginning of the end? "You gotta know when to fold 'em."
A Momentary Aside:
I don't know how things are where you are, but here, the snow is coming down side-ways outside my office window. And then the sun comes back out. Ah, February …
And Now Celebrating Over Sixty Years of Peace:
Outside of Yugoslavia, Europe has not hosted a single war since 1945. (Sorry, conservatives, the Cold War doesn't count.) This isn't the first extensive period of peace in Europe. Between the Battle of Waterloo and 1914, Europe witnessed only one war, in 1871. Should we be worried that so much militaristic idleness will eventually bring about something like the catastrophic events that transpired between 1914 and 1945, a period future historians may refer to as The Second Thirty Years War? Geoffrey Wheatcroft addresses the question in today's New York Times.
Labels: Politics, The Economy
posted by Jim | 12:19 PM
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