Limbaugh loses it

Posted on February 28, 2009 by Gary

Evidently, Rush Limbaugh is back on the drugs.  He made a speech today at the Conservative Political Action Conference, where (according to CNN) he said: “We love and revere our founding documents, the Constitution and the Declaration of Independent. We believe that the preamble of the Constitution contains an inarguable truth, that we are all [...]

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Taxpayer beware – the bailout will hurt

Posted on February 28, 2009 by Gary

Ransom note?  Robbery note?  Hold-up note?  I’ve heard it refrred to by all those terms, but according to a one page “research note” by Joseph LaVorgna of Deutsche Bank, the US taxpayer is hosed no matter what the government does. I heard about it on NPR – of all places – on Friday this week, [...]

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Will the banks survive?

Posted on February 28, 2009 by Gary

Fortune has a good article today that talks about the causes and potential solutions of the banking crisis.  I disagree with their conclusions, but the article does a good job of explaining the risks that the banks are facing – and getting ready to face. How can it be that the banks are tottering after [...]

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Warren Buffett releases 2008 letter

Posted on February 28, 2009 by Gary

This is a must read for anyone interested in the economy or investing.  Warren Buffett dispenses common sense in large quantities, and he’s especially good at learning from his mistakes – to which he freely admits.  I haven’t had a chance to read it yet, and I’ll be interested to see what he says about [...]

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FDIC Friday – 2 more banks failed

Posted on February 28, 2009 by Gary

If it’s Friday, there must be a bank failure….  The FDIC shut down two more banks yesterday, bringing the total of failed banks to 15 for the year. In case you’re wondering, I think this is a good thing.  It’s what we should be doing with all the failed banks.  Instead, we’re spending billions to [...]

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FDIC increases insurance rates to banks

Posted on February 27, 2009 by Gary

This just in from the FDIC – banks will now pay more for FDIC insurance for depositors.  To which I say – Duh! When you get home insurance in Florida, you’re going to pay more than you would for the same priced home in say, Tennessee.  That’s because Florida is riskier from an insurance perspective [...]

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Hoorah for Capitalism

Posted on February 27, 2009 by Gary

Great article in today’s Daily Reckoning by Bill Bonner entitled “Hoorah for Capitalism!” Bill has a unique rambling style, and he ties it all together at the end.  Here are some choice bits from the article. ‘Capitalism has failed,’ they say. ‘We need government to fix the problems…’ The rich hate capitalism because it threatens [...]

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Mr. President

Posted on February 27, 2009 by Gary

Saw this article and had to get a link to it here.  It says – much better than I could – what I’ve been trying to say about President Obama’s spending. Here’s a snip to give you the flavor of the article. With all due respect Mr. President, Tim Geithner and Ben Bernanke are offering [...]

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Buy and hope?

Posted on February 27, 2009 by Gary

Wanted to pass along this story from Yahoo Tech Ticker.  It’s titled Don’t ‘Buy and Hope:’ How to Survive Until the Next Bull Market. With the market heading lower again and the Dow hitting yet another new 11-year low intraday Friday, it’s hard to believe stocks will ever be a good investment. But “there’s a [...]

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Adam Smith’s Lost Legacy

Posted on February 27, 2009 by Gary

Adam Smith’s Lost Legacy is the name of a blog I found this evening.  I found it because of a link to my post here where Gavin Kennedy took issue with my attribution of an “invisible hand” to Adam Smith in the classic The Wealth of Nations. Here’s a link to Mr. Kennedy’s post where [...]

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