April, 2010

The Big Alienation

Peggy Noonan opines about The Big Alienation in this morning’s Wall Street Journal: We are at a remarkable moment. We have an open, 2,000-mile border to our south, and the entity with the power to enforce the law and impose safety and order will not do it. Wall Street collapsed, taking Main Street’s money with it, and the government can’t [...]

Government Investment Success

Fannie Mae Loses $18 BILLION, Needs $15 BILLION More In Aid from The Business Insider by Joe Weisenthal Just to be clear, Fannie Mae (FNM) is still a total sinkhole.————- WASHINGTON (AP) — Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as taxpayers’ bill from the housing [...]

Vision of the Annointed

All you need to know from Cafe Hayek by Russ Roberts This is supposedly from a powerpoint presentation (HT: Drudge) to US Army Generals to help them make sense of Afghanistan. But relabel it and it could be anything. It could be our health care system after ObamaCare is put in place. Or our current health care system with all [...]

Today’s Wisdom — Andrew Jackson on Banking

The wisdom of our ancestors never ceases to amaze me and all others that take the time to read their views on issues. Long before our current issues became problems, they warned about them. Indeed, our Constitution was written in a way that many of our current problems could not happen had the Constitution been adhered to. The wisdom did [...]

This Sucker’s Going Down

James Howard Kunstler posted an outstanding column on The Burning Platform which James Quinn introduced as “This Sucker’s Going Down.” Among some observations made by Kunstler are the following: This sucker is going down because the train of bankruptcies underway has a remorseless self-reinforcing power to provoke more and more bankruptcies at every stop along the line as every promise [...]

EU starting to Implode?

Simon Johnson suggests that someone wake up the President, not in the sense that he is really sleeping but rather unaware: President Obama is wide awake and working hard.  Someone please tell him what is really going on. Johnson is concerned about the EU and its very survival: This is not now about Greece (with 2 year yields reported around [...]

Keynesian Economics as a Control Tool

An enlightening discussion of the growing conflict between economic and political rhetoric and reality is presented at the Daily Bell: “One of the problems with the current sociopolitical conversation is that the increasing knowledge is giving rise to real impatience with the proposed solutions of the political class – not just in America but throughout the West. As the Internet [...]

Demographics is Destiny

A recent post on The Housing Recovery dealt with the problems of foreclosures and their effects on housing. Specifically, the homes in foreclosure and expected to soon be in foreclosure represent almost nine years supply at the current rate of sales transactions. Not counted in the above calculation are the homes currently on the market (normal buying-selling) and the “shadow” [...]

Political Pissfest

I found the following political analogy/satire very well done. It is from Jeannie DeAngelis and entitled Political Pissfest. Welcome to the Political Pissfest Territory is defined as an area, which an animal will defend against intruders of the same species. According to Robert Ardrey, “A territorial species of animals, therefore, is one in which all males, and sometimes females too, bear [...]

Unemployment Figures Made for Populist Rage

Jim Quinn on Unemployment: Interesting post from Washington’s Blog on Naked Capitalism. I’m torn in my assessment of these figures. A major reason that the poor have a 31% unemployment rate is because they didn’t educate themselves, dropped out of high school, are lazy and can live a subsistence existence in the entitlement State. On the other hand, the trillions [...]

Daily Bell Deals with Fatal Conceit

The Daily Bell writes about the Cato study I dealt with in Political Fatal Conceit. They provide additional insight into the dysfunction of regulation and the continual need to “regulate” on top of previous regulations: In the United States and Europe, too, regulations are constantly being added and updated. The expansive nature of regulations is driven, ironically, by regularly dysfunction. Each [...]

The Housing Recovery

For anyone believing that the housing crisis is past or that housing prices have bottomed, the following from Financial Armageddon should wake you up: Economic theory has it that prices tend to rise when demand exceeds supply. But when the potential inventory of homes for sale by banks — which is aside from the properties that homeowners and builders might [...]