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Tag Archives: wells fargo

Unable to Open a Checking Account? Thank the Government

Posted on August 4, 2013 by Tony Lima

Are you unable to open a checking account? You may thank the government (as well as the media, particularly the New York Times). The two have waged a war against overdraft fees for the last decade. There have been many new regulations and actions designed to increase the cost and reduce the revenue banks receive from overdraft fees. Any economist can tell you that when you put a price ceiling in place, a shortage will develop. In this case, the shortage is expressed as fewer bank accounts being opened, particularly for people likely to re-bounce (a term I just invented). Continue Reading →

Posted in Current issues, Economic policy | Tagged bank of america, banks, checking account, checks, citibank, featured, jpmorgan, new york times, overdraft fee, overdraft fees, overdrafts, second chance checking accounts, wells fargo

Commentary: Joseph Gagnon’s monetary policy proposals

Posted on September 7, 2010 by Tony Lima

Creating negative real rates of return for private investors is not the way to stimulate the economy. Continue Reading →

Posted in Economic policy | Tagged apy, bank reserves, federal reserve board, free exchange, institute for international economics, international finance, joe gagnon, monetary affairs, treasury bills, wells fargo

Our Favorite Economist Tony Lima

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Economist Thoughts

TARIFF, n. A scale of taxes on imports, designed to protect the domestic producer against the greed of his customers. — Ambrose Bierce

“Everybody knows that once something is declared a right, the laws of supply and demand are automatically repealed.” – Ben Shapiro, podcast, September 4, 2018

Why I will not use government data from now on

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Websites I Like and Use

  • Board of Governors of the Federal Reserve System
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  • Federal Reserve Bank of Minneapolis
  • Federal Reserve Bank of St. Louis
  • Political Calculations
  • California Pension Tracker
  • Dan Mitchell's Analysis of Tax Issues

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  • Are IRS Audits Really That Bad?
  • The State of U.S. Education in 2019: Comparing the States
  • The Tax Foundation Dissects the Inflation Reduction Act of 2022
  • Does a Recession Really Have To Have 2 Consecutive Quarters of Negative GDP Growth?
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  • Are IRS Audits Really That Bad? August 9, 2022
    Are IRS audits really that bad? There will soon be 87,000 new IRS agents.  With 674 billionaires in the U.S., that's not who will be audited. Continue Reading →
    Tony Lima
  • The State of U.S. Education in 2019: Comparing the States August 8, 2022
    The state of U.S. education: test scores from the NAEP, spending from the Census Bureau, and a measure of state price levels from the BEA. Continue Reading →
    Tony Lima
  • The Tax Foundation Dissects the Inflation Reduction Act of 2022 July 29, 2022
    Bad advice is coming from economists who perennially favor of tax increases. Nobody knows whether tax increases reduce inflation. Continue Reading →
    Tony Lima
  • Does a Recession Really Have To Have 2 Consecutive Quarters of Negative GDP Growth? July 27, 2022
    Does a recession really have to have 2 consecutive quarters of negative GDP growth? No. The Business Cycles Dating Committee makes this call. Continue Reading →
    Tony Lima
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