I wonder if these two headlines have something in common:

FDIC Bracing for a Wave of Failures

and

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash.

The FDIC is running out of money, is expecting many more bank failures this year, and is looking for “creative” methods of financing the mop-up.

With bank failures running at their highest [...]

This was a busy week. A lot of data came in with conflicting indications.

In addition to the raw data I get (from the same sources as everyone else), I review  reports from other economists and commentators as well. Some of them I know I will always disagree with, others I highly respect. While I like [...]

When Haiti was devastated by an earthquake, I wrote an article, Capitalism Saves Lives and Haiti is Proof, which some people saw as insensitive. In it I claimed that capitalist countries faced such disasters and came out relatively much better than did Haiti. Commenters pointed out that Haiti just didn’t have very good building codes, and [...]

Several readers sent me this video on the IndyMac Bank blowup and how some Goldman Sachs alumni made a killing by buying assets of IndyMac from the FDIC. It alleged that the buyers had a floor guarantee from the FDIC that would cover the difference between the amount received on any foreclosure and [...]

This Harvard commencement speech by J.K. Rowling is terrific. This has nothing to do with economics per se. But it is one of the few speeches I have heard in this context when someone says something meaningful. It’s all about failure. As one of my friends says, ‘Fail forward!” You will enjoy this. If you [...]

This is what you do after you lose and election in a rock solid Blue State (Massachusetts). Go on the offensive against evil banks.

When Treasury Secretary Timothy F. Geithner and White House adviser Valerie Jarrett hosted a private dinner with the leaders of six banks to discuss financial regulation on Jan. 20, the bankers soon [...]

Here are two headlines from this morning’s news that I never thought I’d see:

GOP Victory Throws Health Bill Into Doubt;

Democrats Regroup on Health After Losing Seat.

Like most free marketeers I was already grabbing my ankles and gritting my teeth, resigned to the fact that the Democrats had the political power to ram through their Frankensteinian [...]

Here is a chart depicting bank closure activity. We are now at 144 banks closed by the FDIC.

Thanks to the Big Picture for this chart.

A re-run of my favorite cartoon.

Here’s a great spoof on the TSA from Reason TV:

It just keeps coming.

Here’s a story from the Wall Street Journal:

The office market in Washington, D.C., is poised to topple New York as the nation’s most expensive, reflecting the declining fortunes of the nation’s financial center and the government expansion under way in the U.S. capital.

If that doesn’t tell you that there is a major [...]

Check out this interesting piece from Cato’s Michael Cannon this morning.

COMPULSORY HEALTH INSURANCE IS A GOVERNMENT TAKEOVER

Press reports suggest that House and Senate negotiators may be moving away from the “public option” as they piece together a health care bill. Unfortunately, they very well may include individual and employer health insurance mandates. In a Cato [...]

In my year-end post I noted:

The Administration and Congress are now putting forward new legislation to further regulate businesses and financial companies. These new laws are not re-regulations, but are increased regulations that will give the federal government even more control over the economy. By asserting itself further into commerce in order to wield greater power, the [...]

By Jeff Harding.

I took a hiatus of about two weeks from writing. Business matters required my complete attention. I guess I’m one of those types that burns a slow fuse and have difficulty dividing my attention. I made an eight day business trip to Ecuador and then spent time writing up my report. I plan [...]

Econophile will be traveling on business this week, so my postings may be a bit spotty. I am waiting to take off for a small South American country. I’ll tell you about it when I get there. Things are so different there and I think you will find the contrasts interesting. Stay tuned.

By Jeff Harding.

I’ve been meaning to write a piece on Ludwig von Mises, the greatest economist who ever lived, and, if you will, a hero of mine. This is a piece from the Op-Ed page of the Wall Street Journal by Mark Spitznagel. Spitznagel is the head of Universa Investments and is a protege and [...]