Too often we get caught up in the silver-tongued compassion that political con men use to rationalize separating us from our money. What is wrong with thinking in this fashion: If any of us doesn’t deserve to keep everything he has earned, then that man is a slave. Alternatively, he is less than human; he [...]
Archives for September, 2011
Euroland and The US Stock Market — “Extraordinary Popular Delusions”
Euroland is in deep trouble. When its financial system fails, it will bring ours and others down with it. The “madness” that has infected their politicians has also affected our stock market. News of a central bank consortium that will ride to the rescue has buoyed our markets. Why stock markets would rise in light [...]
Keynesian Economics as The Anti-Economics
While reading an article from Mish on housing, two of his passages struck me: You can temporarily jump-start nearly anything if you throw enough money at it, and that is exactly what Keynesian clown fools want to do. Unfortunately, no amount of taxpayer money is too great for any cause any fool believes in. The best way to [...]
Desperate Government Will Do Anything With Your Money!
We are past the point of economic rationality. What drives everything from here forward is political desperation. Here are two examples. Has Fannie Mae bailed out Bank of America? The video at the end of this post does not definitively answer that question, but it leaves open the possibility and it raises other questions: Was this an [...]
Housing — A Continuing Drag
The magnitude in the housing crisis and its impact on the economy, likely for years to come, is captured in this excerpt from Mish: The Foreclosure Pipeline in New York is a staggering 57 years. The pipeline is 51 years in New Jersey. Please see Bad News Overwhelms; Foreclosure Pipeline in NY is 693 months and [...]
Obama’s Job Bill
President Obama’s so-called Jobs Bill is an attempt to create ONE JOB — his own. It should be renamed Obama’s Job Bill.
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