insolvent
Why No Economic Correction
From the Daily Reckoning on why this correction is not an ordinary one. Nor is it like anything ever before seen: A Great Correction is what you get when a great many things need to be corrected at the same time. When the crisis of ’07-’09 came, economists immediately began talking about a ‘recovery.’ But there [...]
The Inmates are in Charge of the Asylum
We are totally lost with leadership like this. Everyone of these fools should be voted out (or tarred and feathered). It is time to wake up and realize that we are insolvent and that the welfare state has failed. It must be (and will be) rolled back and the entire notion of entitlements must be [...]
Gaming the System
Folks, understand what is happening here to cover up the condition of the banks and the economy. I just spent several days with my cousin, an MD from rural Missouri. His tales amazed me, and I am not used to being amazed as to how people are abusing the system. In his case, it was [...]
The Almost Forgotten Problem
Image via Wikipedia Headlines focus on the economic crisis at a national level. We hear about US deficits, problems in Greece, etc. Just as important and just as large as some of the Eurozone countries in the headlines are individual states in the US. While they are mostly out of the day-to-day headlines, a crisis [...]
Rolfe Winkler: Case for Gold
Rolfe Winkler posts on gold and states: “Gold is surging because investors see that the Federal Reserve — more concerned with deflation and unemployment than sound money — may be trapped in a never-ending cycle of monetary accommodation.” He concludes that we and other Western governments are insolvent as shown in the following chart: Winkler [...]
Political Turnaround Specialists Needed
Image via Wikipedia “We stand on the brink of a financial challenge of unprecedented magnitude in the history of this state,” he added. “This is a historic moment. We’re going to have to make historic decisions.” This language could have come from the most of the leaders of state and/or local governments in this country. [...]
The Dismal Dollar
Image via Wikipedia A nice article detailing the recent history of the dollar. The fact that the dollar has declined 79% in the last 9 years versus the Euro is shocking. What is even more astounding is that it has declined so much against a currency not backed by a country and a region that [...]
8th Largest Economy Continues to Implode
Just ten weeks after the new budget, California is going deeper into the red. For years states have been using various accounting gimmickry to meet legal budget limits. All of this profligacy and coverup is now being revealed in this downturn. Several points might be relevant here. California is probably not salvageable because the Feds [...]
No Recovery for Blanche du Bois
Despite all the hoopla regarding an economic recovery, there can be no recovery until the economy sheds the excess debt. The consumer is tapped out and is adjusting his balance sheet to reduce leverage. That is good, despite what the government wants (another credit bubble). The so-called stimulus programs can mask economic performance for a [...]
No Exit from Economic Mess
Doug Noland of www.Prudentbear.com has it right on his “No Exit” Possible scenario. Our economy has become totally dependent upon government spending, interventions and subsidies. There is no recovery in the private sector, nor is there likely to be one in the next several years. Federal meddling will continue to create distortions that will require [...]
Brian Wilson
bigmike
david yard
RICHARD RALPH ROEHL
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