Why are stocks rising?

The S&P 500, DJIA, and NASDAQ are all up about 40% from their lows on March 9th.  Why?  Has the economy (and earnings) rebounded that sharply?  Or were the March lows an aberration?  It’s been a while since I talked about the stock market or the larger economic picture, so it’s time to revisit those […]

Is Geithner really that dumb?

Timothy Geithner is either really stupid or he’s simply lying to buy time.  I left work early today and I heard this quote from Rush Limbaugh on the way home (I used to listen to him regularly, but his shtick is getting old – how long can he blame everything on the Democrats and Clinton?  […]

Tea parties hijacked

I’ve seen dozens of stories tonight about how the Tea parties are a protest against Obama and how they are protesting high taxes.  Bullshit. A few high profile Republicans such as Sean Hannity, Newt Gingrich, and Dick Army hijacked the Tea Party concept for their own political purposes. The Tea Parties are not anti-Obama.  The […]

The Republican Road to Recovery

I’m not kidding.  The title of this post is what the Republicans are calling their budget blueprint.  You can read the whole 19 pages of it here.  Go ahead and read it – it won’t take long and you may get a few good belly laughs from it. There’s no way to call it a […]

Obama is imitating Bush

George Bush was – by far – the biggest budget busting president of all time.  In just 8 years he racked up almost as much debt as the previous 42 presidents did in the previous 212 years of the United States combined.  To put it another way, Bush almost doubled the national debt in just […]

Bernanke says “So far – so good”

WTF is Bernanke smoking?  Is “Helicopter” Ben Bernanke looking at the papers – or using them for rolling papers? According to a story on MarketWatch, Bernanke is quoted as saying “We have been encouraged by the responses to these programs” and “I think the actions that were taken prevented a much-worse situation — a meltdown […]

It’s about time!

Hey, maybe someone will eventually be held accountable for Bush’s flaunting of the constitution!  Here’s a Reuters report on a possible Senate inquiry. A U.S. “truth commission” should investigate Bush administration policies including the promotion of war in Iraq, detainee treatment and wiretapping without a warrant, an influential senator proposed on Monday. Democratic Senator Patrick […]

The return of Mark to Myth?

It looks like the Senate is attempting to allow the banks to sweep their problems under a rug.  A MarketWatch.com article this evening says “an accounting regulation that some bankers and lawmakers complain is a key contributor to the financial crisis might need to be temporarily changed or restricted. The rule, known as mark-to-market, requires […]

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 […]

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 […]