Shelly Sullivan has a piece, Cap-and-trade is not a budget solution, in Capital Weekly.  It’s well worth reading.  She’s correct, of course, but she fails to mention a key p0int: When most economists support cap-and-trade schemes,  the point is to use the proceeds to offset existing discretionary taxes.  That would minimize the economic costs of the regulation.  California’s proposal,… Read more

The FDIC’s quarterly banking report, QBR, came out yesterday. This report contains one of the CERF Indicators, which are a set of special economic indicators that we began tracking in the aftermath of the “Great Recession”. The CERF Indicator in the QBR report is net bank charge-offs. The other CERF Indicators are: the home ownership… Read more