The new whopper deficit projected for Minnesota’s state government underscores how much the business cycle affects the state’s finances and the need for better mechanisms to reduce such downpour-to-drought swings. For much of the past decade, we were told the…
Author: Ed Lotterman
Gripped by the economics of repair
In the interest of honesty, I need to begin with some first-step work and acknowledge my powerlessness over my compulsive attraction to Dumpsters. I set boundaries, try to observe them, and yet the siren song is so sweet. While walking…
Giving thanks to those who help out
I have so many things to be thankful for today I cannot begin to count them. Life has been very good to me. I am glad I live in a nation that is just, peaceful and prosperous. Though there are…
It’s dangerous and foolish to believe you have the last word
I was bemused when someone gave me a copy of the literary hissy fit that Garrison Keillor threw following Norm Coleman’s election. I voted for Walter Mondale and remain personally skeptical about the relative balance of style vs. substance in…
PUC needs to get tough
Many years ago a British judge commented that “men are not hanged for stealing horses but rather that horses not be stolen.” Qwest Communications may be glad that the Minnesota Public Utilities Commission apparently does not share that harsh judicial…
We spend plenty on trials, but little on victims
My newspaper contained disturbing news last week. A local story reported that a 79-year-old grandmother had died one year after being beaten severely in a robbery by two punks. She had never recovered from a coma. A national story noted…
A tax cut both parties can love
Political junkies had scarcely erased their sleep deficits from the 2002 election before people began to suggest policy agendas for the new Republican majority. Most observers predict that cutting federal taxes will be high on the list. That would include…
Investor trust in economy is in serious need of repair
Napoleon Bonaparte once said, “In war, morale is to all other factors as three is to one.” He meant that the mental attitude and confidence of soldiers are of greater importance than the number of troops or guns. He proved…
Economic test for Republicans
Harvey Pitt’s belated resignation as chairman of the Securities and Exchange Commission poses an explicit test of the principles of the Bush administration and the new Republican majority in Congress. Do they favor economic efficiency and market economies? Or do…
Deflation is not a threat as long as Fed is competent
Don’t stay awake at night worrying about deflation. That is my advice to people who query me about whether the United States runs the danger of following Japan into a prolonged economic funk. That troubled nation has edged into deflation…