The Crash Course
If you have not watched “The Crash Course” by Chris Martenson, I highly recommend it and that you pass it on to your friends. It is a reasonably concise presentation and very well done. It explains quite clearly how we…
Banking System, The Dollar and The Welfare State
There is no mathematical possibility of escaping the economic bind we face without reducing the welfare state. The current financial crisis only exacerbates a situation which long ago passed the tipping point. The Federal government’s total liabilities exceed $100 trillion…
Timely Economic Analysis from Dilbert????
It appears that the writer of Dilbert is a better economist than many Nobel laureates who are proclaiming “Green Shoots.”
Banking Mess
The FDIC is broke (although not without additional Fed/Congress credit access) so is not closing banks that should be closed. Bank closures are occurring when they collapse under their own weight rather than FDIC guidelines. Thus, losses are bigger and…
Stocks Divorced From Real World
Below is an excerpt from David Rosenberg’s piece at https://ems.gluskinsheff.net/Articles/Breakfast_with_Dave_082809.pdf “Indeed, let’s compare the economic background last October compared to today:•The unemployment rate was 6.6% then, today it is 9.4%•The level of employment (nonfarm payrolls) was 136.35 million; today it…
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…
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