The Economy with Albert K Lu

Buffett wrong on taxes, again. Topics Flu shots & the fiscal cliff Buffett speaks on taxes Taxes don’t hurt investment (and smoking doesn’t cause cancer) Links NYTimes.com: A Minimum Tax for the Wealthy factcheck.org – Effectiveness of Buffett Rule  

Another indication our education system has a long way to go. Topics Society vs. The Individual Marc Faber predicts gloom, doom, and boom (what else would you expect?) Peter Schiff explores the value of a college education Video CNBC: Marc Faber predicts recession  

Government, not hurricane, creates gas shortage. Why PeterSchiff is wrong. Topics Four more years; Chris Matthews thanks Hurricane Sandy Government & quotas Schiff says ‘idiots’ elect Obama Links MSNBC: Chris Matthews thankful for storm Post-Sandy gas gouging

Sandy spurs more broken window discussion Topics The Economy Election Jim Rogers speaks on the coming recession Words of wisdom from Harry Browne (1970) Videos  Links RT.com: The Final Third-Party Presidential Election Nov. 5 9:00 PM (EST)    

What is the cost of heart bypass surgery in India? Topics Sandy closes Wall Street The Unofficial Presidential Debate Green Card moratorium Links Bloomberg: Turkish Banks Go for Gold to Lure $302 Billion Hoard Bloomberg: Medical tourism CSpan: Third-Party Presidential Debate WashingtonTimes: Final (Third-Party) Presidential Debate    

More political reality TV - ”The Biggest Spender”  Topics Presidential reality TV – “The Biggest Spender” Q3 Earnings disappoint Rand Paul on budget cuts and baseline accounting Links LATimes: Chipotle plunges after earnings miss, possible price increases LATimes: Drought leads restaurants to raise prices, cut portions CNBC: Sen. Rand Paul on budget cuts Follow me on Twitter  

Topics 2012 ‘Nobel’ Prize in Economics “I’m not that kind of economist” Remembering F.A. Hayek Links Bloomberg: 2012 Nobel Prize in Economics Youtube: 2011 Nobel Prize recipients Theglobeandmail.com: Shapley “never took a course in economics” Nobel Prize gold medal 1974 Nobel Prize recipient F.A. Hayek – banquet speech

Topics Whole Foods – the LIBOR of groceries Cramer – “I’m not a libertarian. I believe in the law.” Tom Woods refutes HuffPo article on gold standard; the next generation of miners is born Links CNBC: Jim Cramer – pig & python Tom Woods dismantles anti-gold arguments Lego – one of my childhood favorites is more relevant than ever with new mining collection    

Topics Commodity referees Ranking economic freedom Market-based medicine Charts Links The Fraser Institute’s report on economic freedom (pdf) Free market medicine in Oklahoma Capital Account: Dr Keith Smith on market-based medicine CSM: Benjamin Netanyahu: Iran is almost to the brink (+video)

Topics Time to sell gold? Another US credit downgrade The war against elements Links CNBC: Gartman on gold FoxBusiness: Egan-Jones downgrades US credit

Topics Back from Jackson Hole, WY The Fed announces QE3 The Gold Standard and price stability Charts Links CNBC: Kevin Warsh The Atlantic: The gold standard is the worst economic idea

Topics The things we don’t understand The Ph.G in Economics Wave theories Links CNBC: Ron Paul on gold standard Capital Account: Kondratiev wave theory      

Topics Facebook: Was the IPO a mistake? Murray Rothbard on the importance of listening What is creditism? Links Bloomberg: Lawrence Lenihan on Facebooks decision to seek an IPO LewRockwell.com: Tom Woods on Murray Rothbard Capital Account: What is “creditism?”

Topics Apple wins $1B award Why gold stocks lag gold bullion The reason I don’t want a gold standard Links CNBC: Apple wins $1 Billion Bloomberg: Gold stocks vs bullion CNBC: Ron Paul on return to gold standard

Topics Apple hits high; Schiff on Facebook “windfall” Apple suing “everyone, everywhere” Bastiat; patents/monopoly Links Bloomberg: Apple and Samsung battle Bastiat: Fear of Abundance