The Glitter of Gold Hangs Over Seoul

The G-20 summit is underway in Korea and Robert Zoellick's comments about using a gold standard for currencies has shaken things up a bit. Here is view of the summit at The Fiscal Times.

Let Businesses Get Down to Business

Friday's jobs report was better than expected. Non-farm payrolls increased by 151,000 in October and all of the gains came in the private sector. Unfortunately, there isn't much in what I would call the productive industries. The job gains came in areas like health care and eating and drinking establishments. Mining saw some gains, but most of it was in support services. Things like construction and manufacturing are still doing badly. Here is my interview on MSNBC about the jobs report.

Kill This Subsidy

I have never understood why mortgage interest is tax deductible. This subsidy simply bloats the value of homes, favors the home building and real estate industries over other industries, and encourages people to take on more debt than they otherwise would. Read more at Let's Kill This Housing Subsidy.