Festivus Stocking Health

Belated Lumps of Coal for Those with Stockings Still Hanging by Paul Kasriel, The Econtrarian, former Chief Economist, The Northern Trust Company 2012 Festivus Stocking Stuffers Since I retired at the end of April, I have been having a lot of problems with you people. So, as Festivus is nearly upon us, it is time for the airing of grievances. Here are few of mine. Fiscal and Mayan Armageddon As this is being written, both economists and other quacks are predicting the end of the world as we know it. The economist quacks are forecasting that another recession will occur in the U.S. in 2013 if the scheduled return to the Clinton-era federal personal income-tax levels and if the scheduled sequestration of federal government expenditures occur on January 1. Some other quacks were predicting the end of times December 21 (or was it the 22nd?) as the Mayan calendar runs out of dates. Ten day...