Do as I say, not as I do.

So it looks like the government has gotten concessions out of private banks in regards to outstanding mortgage balances. According to USA Today  the settlement requires the five leading mortgage servicers to forgive at least $10 billion in principal that homeowners owe on mortgages. That will help underwater borrowers who owe more on their mortgages […]

GM grabs another $5 billion

According to Reuters, GM has managed to grab another $5 billion in US tax dollars today.  And the UAW is whining that they aren’t being treated fairly. “We need President (Barack) Obama and his auto task force to stand up for the interests of workers and retirees in these restructuring negotiations,” the union said in […]

Capitalist Blog Revolution (IV) : Another nail in the coffin

As usual, good news are scarce in todays economic climate – most of us can only sit and wait for what government policies will bring.  The only good news I have run across lately is that ECB, lead by Claude Trichet, is not planning any quantitative easing. He also defends the fact that Europe has […]

Capitalism without balls

This is a hilarious article – with a serious message – from Bill Bonner of The Daily Reckoning.  I received it in their daily email, but I cannot find it on the Daily Reckoning site right now.  I’ll post a link to the article if I find it later. Mr. Bonner –  I’m going to […]

Capitalist blog revolution

Here’s a post copied from Save Capitalism. Check out his blog if you’re interested in how a capitalist from Sweden views the economic meltdown.  It’s good stuff! gk Capitalist Blog Revolution (III) : We all hate Keynesians now I predict that before this all is over, anyone promoting Keynesianism will be hung very high. Not because […]

How to save the world

It’s a cool rainy day in Knoxville, so I’ve been catching up on my reading.  Yesterday’s Daily Reckoning had a great article titled “How to Save the World” and I want to post a bit of it here with some comments, because it sums up the cause – and the solution – to the economic […]

Goodbye Capitalism

Capitalism is almost dead in the US.  What follows is a copy and paste of part of yesterday’s Daily Reckoning.  You need to read it – both what follows and the Daily Reckoning site.  Enjoy! gk Obama’s new budget is the biggest bag of leeches to come along since the Roosevelt Administration. We have not […]

Warren Buffett releases 2008 letter

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 […]

Hoorah for Capitalism

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 […]

Stimulus bill explained

This is hilarious – the sad part is that much of it is also true.  Check out Stimulus Package Explained” on The Daily Capitalist.  Here’s a snip: We need to keep that money here in America. You can keep the money in America by spending it at yard sales, going to a baseball game, or […]