Monty Pelerin's World » 2009 October

Huge Commercial Real Estate Crash Forecast

Oct 312009

Image by La Citta Vita via Flickr Wilbur Ross Sees ‘Huge’ Commercial Real Estate Crash (Update3) By John Gittelsohn and Thomas R. Keene Oct. 30 (Bloomberg) — Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the

Worst Bill Ever. What About the Constitution?

banks, FDIC, Fed, law, moral hazard, Ritholtz Tagged with: Bush administration, Business, Presidency of Barack Obama, United States Constitution

Oct 312009

Here is another, similar take on my previous post. This one via The Big Picture. The frightening thing, at least to me, about Rosner’s commentary, is less the stupidity of the legislation than the abrogation of Congressional oversight in future

Taxpayers Sacrificed Again

banks, credit, denninger, ethics, FDIC, Fed, Government, law, moral hazard, morality Tagged with: Bank, Business, Commercial property, FDIC, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Real estate

Oct 312009

Image via Wikipedia Image by Getty Images via Daylife It is probably hard for the trusting public to believe what is being done to them by their government. Most of us were raised to think that government was “of the

Who is Smarter, the Media or the Public?

bias, Other Tagged with: Mass media, Media, Newspaper, Newspaper circulation, Television

Oct 312009

Image via Wikipedia Is there any doubt why the major media audience is dropping like a rock? This headline suggests that 96% of the sample believes they are better informed than reporters. If so, why waste time with newspapers or

Economic Death — Choose Your Poison

currency, Deflation, Government, Inflation Tagged with: Central bank, Deflation, Economic, Federal Reserve System, Great Depression, Hyperinflation, Inflation, Interest rate, Money

Oct 312009

Here is an article that speculates why the outcome of our current economic problems will result in deflation as opposed to inflation. I believe that inflation (very high, perhaps hyper) will be the outcome. But, it is not possible at

Failed Government a Disaster for Americans

Government, markets Tagged with: Barack Obama, Democratic Party, George H.W. Bush, George W. Bush, Jimmy Carter, Richard Nixon, United States, Woodrow Wilson

Oct 312009

Image via Wikipedia Jimmy Carter via last.fm For several months now I have speculated about a failed Presidency. Regardless of party affiliation, a failed Presidency helps no one. It is especially traumatic for markets, even in normal times. These are

Welcome to the Government’s Version of Russian Roulette?

banks, Fed, Government, Insolvency Tagged with: Alice's Adventures in Wonderland, Enron, Fannie Mae, Federal government of the United States, Federal Housing Administration, Printing press

Oct 302009

Image via Wikipedia Would you invest in a financial company that is going bankrupt? Actually, you already have! While you may have been an unwilling investor in FNM, you are continuing to invest every day, like it or not. Your

Maybe It was Clunkers for Cash

denninger, Government Tagged with: Automobile, Automotive, Automotive industry, Business and Economy, Car dealership, Scrappage program, United States, White House

Oct 302009

More commentary on the Cash for Clunkers. In Karl Denninger’s view, “Clunkers” seems to refer to the customers not the cars. Obviously his “evidence” is anecdotal and therefore not worth much. However, why the White House would ever have entered

Wizard of Oz Economics Runs Into Reality

Fed, Insolvency, Keynesian Tagged with: Baby Boom Generation, Balance sheet, Business, Economic, Market liquidity, Real estate, stock, Wizard of Oz

Oct 302009

Image via Wikipedia This is an Econ 301 post, a bit more complicated than typical posts. But this post from Nic Lenoir of ICAP and published at Zerohedge is worthwhile for those inclined to deal with data and charts. It

Do You Golf or Just Subsidize Golfers?

Casey, Government Tagged with: Golf cart, Uncle Sam, United States

Oct 302009

Image via Wikipedia Here is just another ridiculous example of wasted tax dollars from Caseys Daily Dispatch newsletter: ———– Cash for Carts Dear Reader, You’re going to love this. I came across a recent story from The Wall Street Journal

Selected Links from Martenson

economy, martenson Tagged with: Business, United States Economy

Oct 302009

Here are today’s suggested readings from Chris Martenson’s site. To go to full links for articles, click here Economy The Odd Couple (SolidSwede) As the world begins recovering from the worst financial crisis in 70 years, an odd couple of

“You were, in essence, robbed by the government.”

banks, denninger, ethics, FDIC, Government, law, morality Tagged with: Federal Deposit Insurance Corporation, Financial Services, Sheila C. Bair

Oct 302009

Image via Wikipedia Image by 4PIZON via Flickr It is not complicated to understand how laws are being violated by the FDIC. Karl Denninger in his post details that and why there should be no losses from bank closings (unless

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Random Favorites

The Entitlement Frankenstein: The notion of entitlements has been carried far beyond that of a social welfare net. Entitlements ar...
Keynesian Economics as The Anti-Economics: While reading an article from Mish on housing, two of his passages struck me: You can temporarily j...
Atlas Doesn't Shrug; Atlas Shrinks: Despite all the media hoopla and propaganda regarding how well the recovery is progressing, there is...
Obama: Not Moses, Merely Elmer Gantry: The abject failure of the Obama Administration is painfully obvious. Herman Cain described the situ...
Warren Buffet – Savior or Angel of Doom?: The dire financial condition of the US has not been altered by Warren Buffet's recently announced in...
The Divine Right of Government: History is a great teacher. It often provides clues that enable us to understand the present and fut...
Only The End is Certain: I have been out of town for almost a week and pretty much without Internet access. Hence the paucity...
President Clarabelle: The country faces grave danger immediately ahead. Increasingly, people agree with Pamela Geller's se...
Political Parisitology: On Thursday, the Dow was off about 500 points in the first hour, presumably based on fears of Europe...
Economic Summit Insult to the Intelligence of Citizens or Revelation of Obama's IQ: Any Econ 101 student would flunk the course if he showed the aptitude of this Administration regardi...
The Passing of Greatness: People often die suddenly. Heart attacks, strokes and accidents are but some of the causes. Countrie...
When Government Becomes a Predator: Honest US citizens are being turned into prey by the IRS, the victims a hunt for tax evaders. It is ...

Random Quotes

When masses of men reach a point at which egotism reigns so blandly, can their political damnation be far distant? Richard Weaver
The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state. John Kenneth Galbraith
Liberty is rendered even more precious by the recollection of servitude. Cicero
The public good, i.e. the good of every particular member of that society. John Locke
Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. Ludwig von Mises
I am proud to be paying taxes in the United States. The only thing is – I could be just as proud for half the money. Arthur Godfrey

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