Fiscal Insanity

Ran across this post in today’s Daily Reckoning. Those of you who like to think we can go on printing money without consequences should read – not just this article, but basically everything they publish.  I wouldn’t call it “doomsday” stuff, but predicting financial collapse for those who think money can be summoned into existence […]

The beginning of the end

Make note of this date – March 18th, 2009.   100 years from now, historians will point to it as the day the United States of America sealed its’ fate. Today the United States shifted from a long slow decline into high gear – and nailed the accelerator pedal to the floor.  There are several other […]

The real reason we bailed out AIG

In reading through the news over the past few days, it’s apparent that many people are upset with the multiple AIG bailouts.  Some are upset that executives are getting bonuses (I am too) but I think the real reason for the bailouts in the first place is far worse than a few boneheaded executives paying […]

Bernanke’s Interview

Like many of you, I just watched Helicopter Ben’s interview in 60 Minutes.  Here’s a quote from the transcript on 60Minutes.com that struck me: Asked if it’s tax money the Fed is spending, Bernanke said, “It’s not tax money. The banks have accounts with the Fed, much the same way that you have an account […]

Mr. President

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 […]

How’s that working for you?

Back in January, I posted a short article basically saying that it was way too early to call a bottom in financial stocks.  I had been reading an article on TheStreet.com by Doug Kass where he made the case that it was time to buy the financial sector, via XLF.   While I agreed with much of his analysis, […]

The dollar is done

I read an article on Business Week saying that the dollar may be at a bottom.  Huh?  I read the entire article, but I don’t see anything that suggests we’re going to quit borrowing $1.45 billion per day – and that’s at the national level alone.  Coupled with the American consumers’ ability to live beyond […]

Here comes stagflation

This is something I’ve said would happen eventually.  Well, I haven’t said it here, but I’ve said it on a family email list where we discuss lots of weird subjects.    From todays’ Daily Reckoning Australia newsletter: “Treasuries tumbled after the government’s $9 billion auction of 30-year bonds at the lowest yields ever chased away investors,” reports Sandra Hernandez […]