Click to enlarge
A more substantive CBO post here and the actual research paper is here (pdf).
Infographic by Congressional Budget Office.
WSJ Markets
- Gold's Fall Stings Universities' EndowmentGold's slump has saddled the second-largest U.S. college endowment with more than $300 million in paper losses.
- Apple CEO, Lawmakers Square Off Over TaxesApple's tax strategies came under harsh scrutiny Tuesday in the Senate, where lawmakers are finding it far easier to call for a simpler tax code than to produce one.
- Tech Oldie H-P Might Still Be a GoodyBeleaguered Hewlett-Packard is a notable beneficiary of this year's reversal, with its shares having beaten once-highflying Apple's by 66 percentage points so far.
- Labor Woes Jolt South African AssetsSouth Africa's currency stumbled to a four-year low and the country's bonds sold off, signs that escalating labor unrest is starting to outweigh the lure of high yields for many investors.
The damage done by funneling money into corrupt organizations far exceeds the monetary cost. Had the corrupt and predatory banks been allowed to fail we would be much better off.
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