A financial institution entirely out of control

Wells Fargo — Runaway Indeed


Wells Fargo Bank continues to violate the First Law of Holes. It’s already known that the bank fraudulently created over 2 million fake bank accounts and credit cards designed to slowly suck money out of its customer’s accounts. That got Wells Fargo fined $185 million and reimbursement orders. The State of California announced it will no…

Source: https://www.dpcc.senate.gov/files/documents/CRSTaxesandtheEconomy%20Top%20Rates.pdf

Getting Geeky: The Trickle Down Con


This election was lost four and five and six years ago not this year. They dident start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was…

WC Gets Mail: Senator Pete Kelly’s Defenders


WC recently received an email from an anonymous Pete Kelly supporter, accusing WC of “distorting” Senator Kelly’s position. And failing to acknowledge the sacrifices Senator Kelly makes by serving in the state senate. (Grammar tips, Mr. Anonymous: the possessive “its” doesn’t take an apostrophe. And it’s “They’re,” not “their.”) So, yeah, let’s remember to thank…

Local History ≠ Local Economics


The church across the alley from WC’s house in Boise was going to be condemned. The roof trusses had failed under the past winter’s snow load. The damage is obvious from the outside. Folks said it “couldn’t be repaired,” but what they meant was that the cost of repairs was too high, more than the…

Senator Pete Kelly: Economic Ignoramus or Political Coward?

Thanks, Pete Kelly!


There’s so much to thank Senator Pete Kelly for that it’s only right WC make an effort to show his appreciation. Credit where credit is due, after all. • CH2M Hill lost the oil field services contract. Those jobs will not go to mostly non-union Outsiders. If we had a state income tax, at least…

An asymmetric Laffer curve with a maximum revenue point at around a 70% tax rate, based on estimates by Trabandt and Uhlig (2011)

Trump, Voodoo Economics and the Laffer Curve


It’s seriously annoying to WC that anyone listens to a claim that lowering taxes will trigger an economic boom which will “pay for itself” in increased government revenue. The claim is absolute garbage. It’s what George H.W. Bush called “voodoo economics.” President Ronald Reagan pioneered the program, cutting taxes on his rich buddies. The economy…