The Devil’s Dictionary of Economics
Search For: (All Definitions Starting with the Letter: O)
Definition Total: (10)
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| Obama Two-Step |
The latest dance craze to sweep the nation. It’s fun and easy! Just lurch to the right whenever you feel the need to do so. Don’t worry about your partner. She’s obliged to obediently follow along as you zig-zag erratically across the dance floor. That’s why she’s called your base – because she’s basically being taken for granted. See McCain Shuffle.
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| Obama, Barack |
On the subject of people who are bitter, what about your pastor damning America because they didn’t give him enough welfare, Section Eight housing, AFDC money and other subsidies for being Black? Perhaps we could lower college admission standards for Blacks all the way down to the third-grade reading level, but I doubt that even that would be enough to alleviate the bitterness that they apparently feel towards us. (FYI: I, personally, am not this bitter about affirmative action. I was a National Merit Finalist. Rensselaer admitted me with “White, non-Hispanic” checked on my application and I would have gone if I’d had the price. Here, I am expressing how people in the US of KKK-A feel.)
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| Obesity |
Soon, this will not be the biggest problem (no pun intended) confronting Americans. See Recession Diet.
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| Obombies |
Supporters who, though expressing unwavering support for Barack Obama, cannot name a single one of his policies. (courtesy of Slate)
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| Oil |
“The new gold,” says Daniel Yergin, "Oil has become a storehouse of value -- reflecting broad global economic trends and imbalances. At the same time, oil is increasingly seen as an asset by financial investors, an uncorrelated alternative to equities, bonds, and real estate." See Dollar.
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| Optimism |
"We're just going through the typical process of testing and retesting," said Matt King, chief investment officer of Bell Investment Advisors. "If we can continue to build higher and higher lows, that's definitely a positive. If the Dow can build a base above 8,100 and bounce off that, we see that as a definite technical positive."
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| Originary Interest |
Keynes criticized Mises on this point, and Keynes was right. See Section XII of my 2004 paper.
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| Over-Leveraged |
Not a concept that most topless dancers are familiar with. Apparently, neither were bankers in 2005. See Economic Forecasts.
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| Overconfident |
1) “Let’s get it on!” challenged David Koresh, shortly before the FBI burned his compound to the ground with him and all of his followers inside. 2) "Well, number one, I think [Morgan Stanley] has the capacity to take a lot more risk than it has in the past. So from that aspect, we're really using our talent in a more productive way than we have had in the past. I am comfortable with the risk,” said chief executive John Mack in April, 2007.
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| Overinvestment |
A concept unique to Friedrich Hayek and now, slavishly, to Roger Garrison. Ludwig Mises wrote only about malinvestment, as did I in my book.
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