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 […]

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 […]

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 […]

China disagrees with US stimulus

Here’s a bit of an update on the G20 meeting.  It appears that China is getting serious about the US economy, because they want to eventually get the money back that they’ve loaned us. According to a story on KnoxNews.com Chinese Premier Wen Jiabao called on the United States to remain “a credible nation” and […]

Obama to China – give us money!

I mentioned this a couple of times before, here, and here, but it’s escalated a bit this week.  Bloomberg (and a bunch of other places) has a story on it today.  According to Bloomberg, The US is pretty much reduced to pleading with China to keep us afloat. “There’s no safer investment in the world […]

$11 Trillion in debt

At the current rate, at some point withing the next 24 to 48 hours, the US Government debt is going to hit $11 trillion.  According to the US Treasury website “Debt to the Penny” as of right now (8:45pm EDT) we owe $10,951,578,308,859.02. Look at the Debt Clock at the top of this page for […]

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 […]

More stimulus waste

I’m continuing to read the stimulus bill, I’ll add stuff here that I think is stupid.  Stupid as in it doesn’t do a damn thing to stimulate the economy and doesn’t actually help people who are out of work.  Keep in mind that is you simply gave each taxpayer an equal portion of the $787 […]

Bank of America going down?

Just ran across this while taking a quick scan of the news headlines before going to bed.  The headline on CNN says “BofA may need billions for Merrill“. In reading the story, I saw this nugget: Bank of America, which had been viewed as one of the strongest banks in the country, may be buckling […]