Buying Votes Archive

The War On Poverty

“The official poverty rate in the United States, defined as lacking resources for life's basic needs, was 19% in 1964. It had fallen to 12.1% by 1969, the year Johnson left office. Last year, it stood at 15%.” -- USA Today. ... What would a victory in the War on Poverty look like? ...
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Debt Is Rising All ‘Round The World

By John Lumbard. Populism sounds like such a friendly and democratic word.  Only the grumpiest blogger would complain about politicians doing things that make them popular ....  Unhappily, the word "populist" has come to mean a politician who promises cash, services, or benefits to voters.  He doesn't offer to pay for these things...
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The Price of Affection

By John Lumbard, CFA .... Argentina just defaulted on some of its bonds, for the very first time in 13 years. It’s their seventh default since declaring independence from Spain.  Investors kept buying Argentine bonds . . What were they thinking??? In the early 1900s the people of this bountiful land---their economy...
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Motown Blues

By John Lumbard. "Addressing a lunchtime rally of more than 6,000 state workers in front of the State House Annex on Monday, [New Jersey Governor] Corzine pumped his fists and vowed to keep his pledge to increase the pension contributions. ''I will fight for you,'' Corzine told the crowd, made up...
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