Time To Shrug

Do you like fancy sports cars? If so, you will soon own one without the privilege of actually having to take possession or drive it.

Even if you don’t like them you get to pay for them. Cronyism is alive and well and has a pretty face – not Musk, but the car.

This is more than pathetic. It is outright theft. Time to shrug?

See more at http://www.timetoshrug.org/commcrony.htm

The Fed’s Eminent Mistake

The Federal Reserve has spent trillions of dollars trying to revive U.S. housing prices, and at long last a recovery is underway. So it's more than a little surprising that amid this progress the New York Fed would suddenly lend its intellectual imprimatur to a dubious proposal for government to use eminent domain to seize underwater mortgages.

Yet there it was Monday on the New York Fed website: "Paying Paul and Robbing No One: An Eminent Domain Solution for Underwater Mortgage Debt," a research paper by Cornell law professor Robert Hockett. The title is certainly arresting since it promises an economics free lunch.

The rest of this feature at www.timetoshrug.org.

Please consider sending us your commentary.