Monty Pelerin's World

Economic conditions are deteriorating rapidly. Obama, in full campaign mode, continues to spend money as if we have it. He talks about the deficit problem while he continues to make [...]

The black hole of government marches on. Both Fannie and Freddie, now effectively owned by the government, continue to struggle.  Alan Zibel reports on their recent performance: Both Fannie Mae [...]

Fannie Mae Loses $18 BILLION, Needs $15 BILLION More In Aid from The Business Insider by Joe Weisenthal Just to be clear, Fannie Mae (FNM) is still a total sinkhole.————- [...]

Hopefully, nothing! We know that Ben Bernanke pledged to stop quantitative easing (QE) at the end of March. We have now passed that point, and it remains to be seen [...]

  Government is 79% of the Economy Welcome to the world of dysfunctional, bloated and insolvent government. CNBC recently reported on delayed income tax refunds: “…  cash-strapped states such as [...]

Image via Wikipedia Image via Wikipedia Obama announced his new budget, which exceeded most people’s expectations regarding spending. The deficit is likely to be worse than projected because of rosy [...]

Meredith Whitney hits part of the problem precisely: the Fed cannot ease off  purchases of mortgage-backed securities without a collapse of the housing market and the economy. She doesn’t deal [...]

Image via Wikipedia Image by Getty Images via Daylife Nearly six months ago, I taught a course entitled “Surviving the Crisis.” While not knowing how this crisis will end (either [...]

Image via Wikipedia Image via Wikipedia Fannie Mae reports third quarter loss of $18.9 billion and requests another $15 billion in taxpayer funds. Another government enterprise comes back to the [...]

While we fret about the nationalization of the health care market, the mortgage market has already been nationalized. Thanks to NII for this email: The Federal gov’t– FED, FHA, Fannie, [...]

Image by wallyg via Flickr Doug Noland’s latest post regarding “The Newest Abnormal” tracks many of the past buzzwords applied to the economy. Past terminology applied to economics and markets [...]

Image via Wikipedia Would you invest in a financial company that is going bankrupt? Actually, you already have! While you may have been an unwilling investor in FNM, you are [...]