Worst president in my lifetime

This was a post I did on Facebook back in July on Bush I’s birthday. I decided it needed some  updating because I really hadn’t thought about all the factors that should go into deciding the title of worst president. Dumbass Dubya has a lock on the #1 slot, but there can be some legitimate […]

Got Gold?

Just forty years ago in 1971, one ounce of gold would buy 35 US dollars.   Twenty years ago in 1991, one ounce of gold could be exchanged for 350 US dollars.   Today, that same ounce of gold will buy you more than 1500 US dollars.  $1508 to be exact. From $35 to $1500 in forty […]

Who will give us money?

I was reading through The Daily Capitalist blog tonight, and I read a post entitled “The Chinese Aren’t As Dumb As the Fed Thought” that reminded me of a news blurb I saw today.  It seems that there was much less interest in today’s Treasury auction of 5 year notes than was expected. According to […]

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 […]

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 […]

Is Bernanke playing dumb?

It’s hard to believe that Federal Reserve Chairman Ben “Helicopter” Bernanke is actually as dumb as his statements make him sound.  In his testimony to the Senate today, he said that if the government purchases common shares in banks, that it “may or may not” have an impact on shareholders. Has he never heard of […]

Bye-bye to buy and hold

As if the past few years haven’t been proof enough, the recent plunge in stock prices may finally shut up the chorus of buy and hold investing proponents.  I’ve been saying it for a long time, but maybe hitting people in the pocketbook is the only way to make them understand. Buy and hold is […]

The meltdown wasn’t what you think

Good story on Marketwatch.com talking about the cause of the financial meltdown and credit crunch. Everyone knows the crash of 2008 was caused by financial deregulation except Thomas E. Woods, who blames financial regulation, in the shape of the Federal Reserve. Wood’s new book, “Meltdown: A Free Market Look At Why the Stock Market Collapsed, […]

Secretary Geithner Introduces Financial Stability Plan

Geithner introduced the new FSP today.  He says it stands for “Financial Stability Plan”.  I think it’s more like “Fucking Stupid Politicians”, because that’s much more accurate. All of the quotes below are straight from the U.S. Treasury press release, available from their website here. After the obligatory suck up to the boss, and look […]

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 […]