CalPERS Meets Reality

The California Public Employees Retirement System (CalPERS) is the largest public pension fund in the country. Public pension plans keep two sets of books. The accounting method reported to the public uses actuarial standards. The other method, not reported ever, uses market values. Any economist worthy of the title will tell you that market valuation is the correct way to value, well, just about anything. The scandal is what happens when a pension plan tries to leave CalPERS’s not-so-tender embrace. Continue Reading →

Entry Exit Overstay Report FY 2015

The Entry Exit Overstay Report FY 2015 gives details of the number of people who have overstayed their visas broken down by country and in several other ways. … Regular readers know my fondness for Excel. I decided to do a quick-and-dirty export from pdf to Excel. Surprisingly the tables seem to have come through in very good shape. Continue Reading →

EIREXIT

And the government of Ireland, personified by Finance Minister Michael Noonan, stated, “I disagree profoundly with the commission’s decision.” He added that the the government would quickly file an appeal before the EU courts. “This is necessary to defend the integrity of our tax system; to provide tax certainty to business; and to challenge the encroachment of EU state-aid rules into the sovereign member state competence of taxation,” he added. Continue Reading →

The Power to Regulate is the Power to Destroy

Student entrepreneurs at the University of Colorado have learned an important lesson: don’t bother. A state agency has levied fines against a student-run non-profit coffee shop that put it out of business. The power to regulate is the power to destroy. Continue Reading →

Marketplace Disses Trump

Mr. Ryssdal has made a fundamental error. He assumes the BLS gathers the data for the unemployment rate. That is not true. BLS outsources data collection to the Bureau of the Census. And, shortly after taking office in his first term, President Obama moved Census from it’s long-time home in the Department of Commerce to the Executive Office of the President. Which means the administration directly runs the critical data collection job for much of the government. Continue Reading →