March, 2010

Healthcare Deform

I received the following email from a friend. I don’t know the doctor but thought his take on the new healthcare reform was worthwhile. His predictions seem reasonable to one not in the medical profession. I am not inclined to pass along each and every message received over the internet.  This one is for real and from a long-standing friend [...]

The Fat Lady is Resting

There is a dangerous complacency regarding this economic crisis. Many believe we have seen the worst and are back to business as usual. The stock market has made a miraculous recovery. Some say it is off to the races once again. This crisis is not over. It has barely begun. Watch the currency and debt markets. They are apt to [...]

The Welfare State

What are the Implications for the World? The most advanced industrial nations of the world, save China, are all insolvent as a result of pursuing unconstrained social welfare states. China has its own short-term problems, but that is beyond the scope of this note. Politicians apparently are the same across cultures. That is, they will spend and promise more than [...]

Forbes on Gold

There has been a lot of interest in gold by readers of this site. Forbes magazine had an article on its pros and cons and how to invest in it. To read it, click here.

Have We Lost our Minds?

Give me an excuse, any excuse to raise taxes. All I need is the slightest rationalization and I will propose a tax. That is the extent of the wisdom of elected officials at all levels of government. They are broke and like a cornered, wounded animal, will do anything to survive. Anything, that is, except recognize that government is not [...]

Dems Ready to Demand Higher Corporate Earnings

According to the Wall Street Journal, the first cost increases of ObamaCare have already shown up: Yesterday AT&T announced that it will be forced to make a $1 billion writedown due solely to the health bill, in what has become a wave of such corporate losses. Democrats decided to raise taxes on companies that do the public service of offering [...]

Wisdom: Friedman on Fed

Milton Friedman on dangers of allowing the Federal Reserve so much power: “The power to determine the quantity of money… is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power… Any system which gives so much power and so much discretion to [...]

Social Security Goes from Political Penthouse to Doghouse

The darling of the politicans in Washington has become not-so darling. Social Security, for decades a hidden slush fund that allowed pols to spend beyond what they taxed, has turned into an albatross. The Ponzi Scheme has unraveled. According to the NY Times, less than two years ago, Social Security Trustees projected the fund would have income exceeding expenses until 2037: [...]

Welcome to Capital Controls

Welcome to Capital Controls. It is likely that capital has been moving out of this country since the Obama Administration revealed its true colors. Steps like these are taken by dying, desperate countries. As people start to emigrate (i.e., a “brain drain”), look for laws to prevent that. Once a government enters a downward spiral like the US and opts [...]

Healthcare and Detroit: Murdered by Government

The recent passage of Obamacare is madness not seen before in this country. Any cursory review of government indicates that it fails at everything it does. It destroys rather than heals.  Just a few examples are the following: Social Security is insolvent. Medicare and Medicaid are insolvent. The Post Office, despite being a monopoly, is incapable of paying for itself. [...]