An impressive group of right-leaning technocrats has signed an open letter to Ben Bernanke, objecting to his adoption of QE2. And it’s hard to disagree with what they have to say:
Mark Coatney has joined at least one Newsweek.com staffer in presenting a very cogent case for saving Newsweek.com on Tumblr. Their points about SEO, and about the long tail of Newsweek.com’s archives, and about the relationship with MSN, and about the relationship with advertisers in Newsweek magazine, are all well taken.
One of the positive effects of the deficit commission report is the way that it has brought the stupid mortgage-interest exemption back into the spotlight. David Kocieniewski’s article in the NYT is very good, although I don’t understand why simple statements of fact have to be attributed to anonymous “experts” or “economists”:
The NYT has erred in the past, but generally it’s good about reporting prices paid at auction: the amount that the winning bidder pays for the item in question is the amount that the item sold for. That amount is then split between the person consigning the item to auction; the auctioneer; and, of course, the taxman. In the case of that Chinese vase, the hammer price was £43 million, the auctioneer charged £8.6 million commission; and the buyer also had to pay 17.5 percent sales tax on the commission, for a total of £53,105,000, or $85.9 million.