What Lehman Brothers should have taught us

Excellent post on Save Capitalism today about what we should have learned – but obviously didn’t – from the Lehman Brothers debacle.  Here’s a snip: The saviour from the disaster of global economic collapse is government debt. It has served as a temporary cushion for the system to fall back on. The danger is that […]

2009 Shock and Awe

I read this a few minutes ago from yesterday’s DailyReckoning.com.  It’s an excellent article by Doug Casey. I’m going to quote a few paragraphs from his article (linked above) and highlight a few items which tie into my diatribe about savings yesterday. “The things they’re doing are not only unproductive, they’re the exact opposite of […]

Is the savings rate killing the economy?

I saw this article today on CNN and had to save the link so I could comment on it tonight when I had time.  The headline reads Why saving is killing the economy. To put it bluntly, this is one of the most inane, ignorant, and generally stupid stories I’ve read in quite some time.  […]

Save Capitalism

Thanks to a reader comment, I learned of a great blog tonight.  It’s called Save Capitalism, and there are some great posts on it.  Here’s one I particularly enjoyed – Why Obama shouldn’t play Roosevelt, and the crucial detail Bernanke missed Be sure to check out the “Selected Posts” sidebar on the right side of the […]

Benanke is looking for a big rug

“Helicopter Ben” Benanke gave a speech yesterday (Jan 13th, 2009) at the London School of Economics. You can read the whole text of it here if you’d like. I’d like to comment on part of the speech near the end, where Bernanke says this:  Public purchases of troubled assets are one possibility.  Another is to […]

$700 Billion Bailout Fails in House!

There’s good news on the bailout bill – it failed to pass the House! I know the DJIA dropped immediately – but that’s a good thing.  The excess credit (and resulting excess debt) need to be wiped out before we can start the recovery.  Personally, I think we need to drop a lot more than […]