2012 December

  • Moral Hazard

    Chess Game

    I’m going on the record to say something completely radical and unpopular: I would rather see a strategic default than a reduction in payment. Why? Because you’ve got to prevent irresponsible homeownership and draw hard lines in the sand between behavior that is productive to society and behavior that is not. If one house on […]

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  • What Next Year Looks Like


    Right about now, most economists and business owners start looking into their crystal balls and projecting what the new year will bring and how they might handle it. Let’s take a look. Quantitative easing (QE3) is doing great at driving the stock market, but it has no impact on the economy. There is a separation […]

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