No Nonsense Economics
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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…
Not long ago I wrote a short piece here on No Nonsense Economics noting that the current water situation in California should more aptly be named a ‘water shortage’ rather than a ‘drought’, the difference being that a drought is a water shortage with significant negative economic consequences. Such consequences are not something the state has experienced over the last few years given the over 3% employment growth, sharp increases…
