From Consent of the Governed: I have two articles of interest to share with you – especially if you have some sort of nest egg. First off - Congress and Obama want your 401 (k)s and IRAs It’s in the works kids…. you’ve been saving and investing for years and now [...]

Must Watch Kyle Bass Interview: “I Don’t Know How I Can Be Long Stocks” Submitted by Tyler Durden on 08/17/2010 12:21 -0500 The one must watch interview of the week (if not of the year) features Hayman Capital’s Kyle Bass. Bass, who correctly called the subprime implosion (and profited handsomely from [...]

William Black was one of the tough regulators during the S&L crisis. He knows what is going on and knows what needs to be done. According to Mr. Black: The FDIC is sitting there knowing that it has both the residential disaster and the commercial real estate disaster [and] knowing [...]

‘I Want Your Money’; New Film Skewers Obamanomics Film is coming out in the Fall. Why do I think that means before Election Day? The Failure of Obamnomics

People in general are optimistic. Successful people in any occupation usually exhibit this characteristic. It is one of the attributes that lead to their success. One must be careful, however. Noble people assume that promises and commitments will be met. Unfortunately, that is likely to be untrue, at least in [...]

To those still foolish enough (or delusionally optimistic) to believe that our economy has turned the corner and is headed back to pre-2008 days, turn off your TVs and cancel whatever newspapers you are reading. It just ain’t happening and it isn’t about to begin! The post below describes the [...]

Obama’s election was supposed to transform America, at least in his mind. This country’s first Socialist President strode into office confident he would remake this country. Unfortunately for him and fortunately for the country, the timing of his election was twenty if not fifty years too late. Socialism failed in [...]

The “Pretence of Knowledge” was the title of economist Friedrich Hayek’s 1974 Nobel speech. In his first few sentences, he described the then-prevailing economic condition in words appropriate to today: … [this economic condition] has been brought about by policies which the majority of economists recommended and even urged governments [...]

Environmentalists get their wish, even more than their wish. Remember the Hollywood dingbats that suggested that we should limit ourselves to only one ply of toilet paper? Well, the government in Newark, NJ is implementing that policy on steroids (er, hemorrhoids?). There will be no toilet paper in government offices. [...]

The Obama Administration continues to spend money faster than anyone other than Paul Krugman and his ilk could imagine or wish. Increasingly, the rest of the world is seeing this behavior as adding to the problem rather than a solution. The following quote from an article in the Financial Times [...]

The U.S. government moves closer to a debt death spiral. Arguably, we are already in the beginning phase of this spiral as this rather scary observation points out: The nation’s debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at [...]

Shouldn’t do it; couldn’t do it anyway By Bill Bonner 07/09/10 Paris, France – Paul Krugman, Martin Wolf and the other big spenders are remarkably resilient. And cunning. On their advice, the world’s governments put up as much as 4 years’ worth of the entire planet’s savings to bring about a ‘recovery.’ [...]

Obama Says Stimulus Worked, Created Jobs… Here’s a Reminder of the Waste by Warner Todd Huston In his recent trip to Racine, Wisconsin, President Obama claimed that his stimulus policies worked and “saved jobs.” He also said that his policies staved off another Great Depression. But lets take a look [...]

The following illustrates the best reason to not listen to the nonsensical arguments between Republicans and Democrats. The corruption of politics has made these parties almost identical. The old saying about a “dime’s worth of difference” may no longer be correct, but it is incorrect only as a result of [...]

Europe wants to discontinue government spending as a means of solving the crisis. At least that is their stated position. The Obama Administration wants to continue stimulus. Few doubt that that is their stated and operative position. The debate over spending is not new. It heated up in the last [...]

14 Reasons Why The U.S. Will Never Have A Balanced Budget Again Michael Snyder | Jun. 25, 2010, 1:01 PM The United States government will never have another balanced budget again.  Yes, you read that correctly.  U.S. government finances have now reached a critical “tipping point” and things are going to [...]

Atlas is shrugging. John Galt has his bags packed and his plane is warming up for a one-way trip. As this scenario plays out, the Lords of the Political Realm don’t appear to care. They either have no understanding regarding what is happening or they just don’t care. Or possibly [...]

The Heritage Foundation provides excellent economic analyses. The following explains in detail why we have such big budget deficits and the implications for the future. There is no need to continue to listen to the bilge that spills from the Washington cesspool regarding deficits. Arm yourself with the facts. Vote [...]

As we plummet, out of control, toward sovereign bankruptcy there are those that believe it is all intentional, an attempt to consolidate power at the Federal level with controls over the states and citizens never before dreamed of in America. An article entitled Bait and Switch: Raising the National Deficit [...]

The end is rapidly approaching. Here is Karl Denninger explaining why: Merkel Tells Obama To Stuff It This ought to get interesting…. Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that “we are going to discuss when to quit the phase of short-term measures and go on [...]

The mathematics of getting out of the hole we are in are impossible as pointed out many times in posts here. Now, Karl Denninger bluntly deals with the numbers. The issue of Social Security dominates the first part of his post. However, that is a relatively small part of the [...]

A Mind-Changing Page Thomas Sowell Thursday, June 17, 2010 Sometimes you can read a book that will change your mind on some fundamental issue. Rarely, however, is there just one page that can undermine or destroy a widely-held belief. But there is such a page– page 77 of the book [...]

Karl Denninger explodes on Paul Krugman and other establishment economists in Proof: Economists Claim 2 + 2 = 8134. Denninger attacks their vulnerability in a different fashion than I have, but reaches similar conclusions: the economic emperors have no clothes. John Maynard Keynes has to be rolling in this grave….. [...]

Welcome to the New Hell of ObamaCare. This welcome is directed specifically at US citizens who will have their healthcare and health costs adversely affected. (That, by the way, is virtually everyone.) As described in a Wall Street Journal editorial: … the real problem is ObamaCare’s substantive defects, some only now [...]