No Nonsense Economics
Relevant, hype-free insights about what’s happening in the global, U.S., and California economies.
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Between California’s odd summer storm, rising seawater temperatures, and muggy summer, it’s pretty clear that the El Nino weather phenomena is starting to form out in the Pacific Ocean. This promises to make the next few winters wet ones, and bring on the beginning of the end of the drought that has been plaguing the state. But that doesn’t mean that California should revert to its old habits....
There has been a lot of ‘bubble’ talk lately. Sure, there is the lunatic fringe—such as Ron Paul’s online interview about the coming crash of the U.S. currency, or Jim Rickard’s dire warnings of the impending 25-year depression conveniently laid out in a $25 hardcover book ($13.99 for the Kindle edition!). But now, a number of more conventional voices are getting into the mix. Type ‘bubble’ into Google’s...
Here in Los Angeles, the first thing visitors learn is that our public transportation system won’t get them anywhere. The second thing they learn is that, according to legend, Henry Ford is the reason why. Car manufacturers (tire manufacturers in some retellings) tore up all of the train lines in Los Angeles in the early 20th century to make way for more streets and highways, and the City’s...