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...................................... Paul Krugman wrote (maoxian/maoxian) a longish piece in the Sunday NY Times called the Tax-Cut Con. I disagree with him completely... but it's important to read it to know how party operatives like Krugman are trying to spin things in the run-up to next year's election. I was strongly in favor of the Bush tax cuts and believe that public spending should be cut dramatically, especially for the military (it would be nice if the defense budget were cut by 75% over the next decade). The worst thing about this Iraq campaign isn't that it's half-baked, but that it's so damned expensive. I agree with (the unfortunately named) Grover Norquist when he says: "I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub." Let's look forward to the day when we can dismantle those government programs which Krugman claims are "immensely popular." .......... Scott McCloud responds to Clay Shirky's article about micropayments that I linked to last week. .......... John Wasik writes about the high costs of turnover:
Turnover should be a major issue for fund investors, yet few of the 95 million owners know how this one expense ravages their wealth,
because under SEC rules this investor cost doesn't have to be disclosed by funds.
Because fund owners are footing the bill for trading expenses, turnover should be a fully disclosed cost. High-turnover funds are doing nothing illegal, although they are performing a disservice to investors because the accompanying charges may double the expenses of any given fund. Previous Entry >>> Random Thoughts -- September 14 |
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Chairman MaoXian |
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