Monty Pelerin's World

Economic, Financial and Political Analysis

Archives for July, 2011

Victor Davis Hanson on Obama

Victor Davis Hanson captures the essence of the Obama Presidency: Obama has managed the nearly impossible: the greatest peacetime deficits in U.S. history — about $1.5 trillion per year — in his first three years achieved almost no economic expansion. Instead, unemployment is chronic and stays over 9.2%; growth is stagnant; gas is sky-high — [...]

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The Irrelevance of The Debt Ceiling Discussions

From Zerohedge, all you need to know about the debt ceiling issue: “I just don’t get it! They’re crazy for not compromising! Their political games are going to ruin the country! Why not just raise the ceiling?!” What these people are lacking is a basic understanding of the bigger picture. Ultimately, this debate is not about raising or freezing [...]

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The Promises Begin to Evaporate

The inevitability of insolvency for various levels of government slowly begins to hit. Here is a scene, played out on a small field in Rhode Island, that will be enacted on much larger fields like Chicago, Detroit, etc. The Ponzi scheme is ending. Woe to those public employees who built their lives on such false [...]

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A Message From The President

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Is Your IRA Going To Be Raided?

iraes (1)

The notion of government raiding personal retirement accounts for funds may seem extreme. Perhaps it shouldn’t.  Other governments have done it. Argentina did in 2008. Ireland has indicated it might. The worsening financial crisis may eventually move other countries in that direction. Surely the US would never do so. Actually, there is little basis for [...]

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