- The Ten Pillars of Economic Wisdom (EconLog)
- All the best tax breaks are Made in America (FT Alphaville)
Media and political focus on marginal income tax rates continues to obscure any real discussion about the myriad of ways the tax system is intentionally tweaked to protect wealthy individuals and companies. In tax laws, just as in finance, the US continues to win the race to the bottom.
- David Kotok: I’m Worried (TBP)
Will our persistent political focus on short-term expedients result in long-run problems that ultimately overwhelm any further short-term solutions?
- Will U.S. Avoid Recession in 2012? (Bloomberg)
Legendary investor Gary Shilling offers his outlook on a possible US recession in 2012. He concludes a recession will begin this year and continues to recommend investing in long-term Treasury bonds (both points I agree with).
- Why Obama's JOBS Act Couldn't Suck Worse (Rolling Stone)
- Soros: Reversing Europe’s Renationalization (Project Syndicate)
After years to trying to become financially integrated, the recent crisis is pushing many countries in the opposite direction. Renewed concerns about Spain and Italy may speed up this process that could lead to several defections from the EU.
- Rajan: The Trouble with Libertarian Paternalism (Project Syndicate)
- Forcing Both Parties to Get Specific About What Government Should Do (Next New Deal)
Unrelated to economics, if you have a few minutes definitely watch this video (whether you like Nike or not):
Sickest Nike Commercial Ever
Spain’s stock market back to 2009 lows...No recovery there! (h/t Zero Hedge)