Archive for September, 2009
Rolfe Winkler explains the economic problem facing the US and why current policies cannot work. In the process he batters Keynesian economics and Paul Krugman (who might better start writing with invisible ink so his prior columns and positions cannot be tracked). Here.
James Quinn with another well-researched and provocative post: Congress has done a phenomenal job in taxing, spending and borrowing. Nobody does it better. They should get a Congressional gold medal for taxing, spending and borrowing. Up until 1913, the government was limited in their ability to spend because there was no personal income tax and [...]
A recovery in the economy can only occur via recovery in the private sector. Much of what has been hailed as “green shoots” results from government stimulus. It is not clear what is being stimulated other than reported GDP, because there are few signs of private sector recovery. One area that has received enormous stimulus [...]
Here is a piece by Chris Martenson that details the Federal involvement in housing. As you read this, recall that it was housing that started this economic crisis and that Fannie and Freddie, “government sponsored agencies,” were the vehicles. These GSAs are now wards of the State. Perhaps albatrosses around the necks of taxpayers and [...]
We have all been made unwilling investors in Fannie and Freddie, courtesy of our government. I’m not sure how many mortgages you or I own, but the following chart isn’t good news. I hope the mortgages I own are not defaulting! As an investor, deterioration like this would make me want to cut my losses [...]
For investors, markets are tough to navigate even in good times. But these are not good or normal times. Our economy is arguably in the worst shape it has been in 80 years. The financial system still borders on collapse with no apparent remedies to financial system insolvency. The Federal government is hopelessly insolvent, destined [...]