Will China stop loaning us money?

I mentioned this just yesterday, and it looks like it’s quickly becoming a major issue.  According to a story from Reuters today, Chinese Premier Wen Jiabao said “Whether we will buy more U.S. Treasury bonds, and if so by how much — we should take that decision in accordance with China’s own need and also […]

Is Standard and Poors finally getting it?

I was just looking up the latest earnings estimates for the S&P 500 on the Standard and Poors website, (link will open an Excel spreadsheet) and I noticed a dramatic change from a week ago. In the “Operating earnings per share” section near the top, where Standard and Poors normally lists the estimated earnings for […]

Almost forgot – it’s FDIC Friday!

I don’t know how I forgot about this – it’s a Friday tradition for the FDIC to take over failing banks.  That way it’s old news by Monday morning, and the stock market won’t tank. Anyway, here are the latest bank shutdowns.  According to MarketWatch: Federal regulators closed three banks in a single day Friday, […]

What if no one wants our debt?

Just read an interesting post on the Yahoo Tech Ticker site titled “Sum of All Fears: Stocks Slump But Bond Woes Are the Real Concern” and it mentions something that I haven’t talked about in quite awhile.  Bond prices. You see, when we (the US Government) borrow billions and trillions to bail out bad companies, […]

Bed time for Blago

The Illinois Senate voted unanimously to remove impeached Governor Rod Blagojevich from office today.  Here’s the CNN story. A few quotes from the story should suffice to give you a feel for the sheer buffoonery of Blago. After the vote, Blagojevich said “the fix was in from the very beginning“.   Ummm, maybe, but just because […]

Going downhill fast

I didn’t vote for Obama (I voted Libertarian this year) but I was hoping Obama would be an inspirational President who wouldn’t actually do much – because I don’t think the government should do much.  I was really hoping that there would be Republican control of the House and Senate so hardly anything would get […]

Another brick in the wall

Tonight the House passed “a historically huge $819 billion stimulus bill” 244 to 188.  Here’s the AP story with some details.  This is nothing new, but the level of spending over the past year is going to come back and bite us all – big time. According to the story, “The centerpiece tax cut calls […]

The Mogambo Guru

Richard Daughty is a funny man, with something serious to say.  In today’s essay he makes a number of good points, but the increase in the deficit is the one that caught my attention.  He says: The end result is that it looks like there is going to be a lot of borrowing and printing […]

Popcorn goes to jail

Marvin “Popcorn” Sutton was sentenced to 18 months in jail today.  I’m just wondering if the government might have anything better to do with our money than to spend time worrying about what an old moonshiner is doing. Oh yeah, they could print more and bail out banks and autoworkers! gk Added later – You […]

Bush is an idiot – another example

If you needed another example of how badly Bush sucked as leader of the US, here’s one from Today’s Daily Reckoning: When the going was good, a small addition to the financial sector’s capital would be multiplied many times. The limit for Wall Street’s investment firms was 12 to 1…until it was increased to 33 […]