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The Brazilnesia Investment Act of 2013

Posted by: Tom Keene on September 19, 2011

Do you want to give them the keys back? Me neither. And do you know why? Because they don’t know how to drive! At a time when we’re just getting out of the ditch, they’d pop it in reverse, let the special interests ride shotgun, and hit the gas, careening right back into that ditch.”

President Obama, The Milwaukee Speech, Labor Day, 2010

When in doubt…class warfare. And yes, “they” have proven they don’t know how to drive.

At my desk, to the left, there is a brass plaque I retired a few years ago. I won it three consecutive years and then, with ceremony, they presented it to me and said, “just go away.”

Worst User of Excel at Bloomberg.

There is a similar plaque (unretired) that gets trotted around the globe for The Dumbest Economic Idea of the Moment. At present, this gem resides in Frankfurt as the ECB applies 2.8% GDP monetary policy to a 1% GDP economy.

It appears the plaque will migrate to 1600 Pennsylvania Avenue by Spring Training 2012.

Here are two exceptionally smart articles on our pending tax rage. Montgomery and Rubin canvas the sense and nonsense of the present “debate” parsing the grownups from the politicians. Read these for they are what business journalism should be each and every day.

I have no clue what the knock-on effects of our Buffettian class warfare will bring, but all, and I do mean ALL, should run when they see the word “fair.” (Tip: read Mankiw, Poterba and particularly Eugene Steuerle.)

Investment means jobs and investment reacts to, and only to, incentives.

(Under you can’t make this up, note this set of green-carded incentives as the dreaded Chinese create jobs at hip-American PBR, W. Juneau Avenue at N. 10th Street.)

Niall Ferguson looks over distant horizons and considers Chindia. From Omaha, across the preferred-dividend plains, past 21 abandoned acres in northwestern Milwaukee, and beyond our fair borders there are others willing to take “the keys.”

Consider this proposed tax policy as The Brazilnesia Investment Act of 2013. Discuss.

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EconoChat captures Tom Keene's thoughts on economics, finance and investment. He is editor-at-large for Bloomberg News and hosts Bloomberg Surveillance and Bloomberg on the Economy on NYC1130, Sirius 129 and XM 130 and Surveillance Midday on Bloomberg Television. His complete interviews are at Tom Keene on Demand. Look for Tom on twitter @tomkeene

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