Friday, August 14, 2009

Links

  • Mark Cuban says that the most patriotic thing you can do is to get rich. I agree. (HT: Matt)
  • For all of the talk about green energy being the next great source of economic growth The New York Times's Green Inc. blog says that the solar industry is suffering.
  • The Huffington Post has obtained a memo that it says confirms an alleged deal between the White House and the pharmaceutical industry.
  • I was informed yesterday by my bank that the interest rate on my savings account has been cut to a measly 1.45 percent so this blog post on the immoral nature of the Federal Reserve and its punishment of savers resonates a bit. And remember, very low interest rates in Japan have failed to provide a substantial boost to that country's economy.

2 comments:

Diggory said...

The Federal Reserve is immoral because it's trying to encourage growth-stimulating borrowing? Hey, I know it sucks to be getting lower interest on my savings lately, but you've gotta thing long-term and big-picture. Lower interest for us means it's cheaper for companies to invest which it's cheaper for GDP to grow. Having high interest rates for us doesn't do a thing for us if companies aren't willing to borrow our savings.

Colin said...

Well, while I think the blog I linked to may be over the top, it is useful to remember that low interest rates are not always a good thing as evidenced by their role in the housing boom. It's best if such rates are set by the market instead of government fiat.