On the O’Reilly Factor (hosted by Laura Ingram) on Thursday evening, July 1st 2010, Karl Rove and Laura were discussing the immigration issue and Arizona's SB 1070. In support of some point or another, Mr. Rove told an anecdotal story about an apple grower in Washington State. He mentioned that the grower required 500 seasonal pickers [...]
Us bumpkins out here in the unwashed masses (read: those of us who don't hold PhD's in economics and work for a central bank) might think that "Neither a borrower nor a lender be" are words to live by. But boy, lemme tell ya, them folks with them there high-falutin' edumacations have got it all [...]
As a Virginian, one of my favorite Founding Fathers is Patrick Henry, a man who is often not given enough credit for his many accomplishments. Patrick Henry is famously known for his famous quote: “Give me liberty or give me death.” It was a powerful speech that gave men the courage to confront the king [...]
Hubris (also hybris; pronounced /hju:bris/) means extreme haughtiness or arrogance. Hubris often indicates being out of touch with reality and overestimating one's own competence or capabilities, especially for people in positions of power. In this recent essay, Richmond Fed staff economist Kartik Athreya makes his case: "Economics is Hard. Don’t Let Bloggers Tell You Otherwise". [...]
Tomorrow! Tomorrow! I love ya Tomorrow! You're always A day away! The Toronto G-20 summit was a colossal flop. The statement issued on their brand-new G-20 website includes ridiculous pablum like this: ...advanced economies have committed to fiscal plans that will at least halve deficits by 2013... Hey, look! We're gonna return to lower deficits [...]
Another day in Washington, another massive attempt to grab power and steal your liberties. The financial reform legislation that recently emerged from the House/Senate conference committee is a continuation of the contemporary standard operating procedures of ignoring the Constitution, crafting an intentionally long and complex bill that no one -- including its supporters -- will [...]
On June 2nd, 3rd and 4th, respectively, I reported a growing chorus of financial pundits were going on record and warning of a coming sovereign debt crisis. Most of you are aware of the G-20 meeting that is closing in Toronto tonight. The G-20 members are a self-appointed group of governments and various government agency, [...]
Orwell would be proud. Orszag exit reveals deficit policy split (Financial Times free subscription required) Peter Orszag, Barack Obama’s budget director, resigned this week partly in frustration over his lack of success in persuading the Obama administration to tackle the fiscal deficit more aggressively, according to sources inside and outside the White House. Mr Orszag, [...]
See video below. Investor Hugh Hendry understands George Soros: "The richest people on the planet become socialists"; "Socialism is when you build a moat around the castle." Mr. Hendry is responding to a recent Bloomberg interview in which Soros decried German determination to cut their deficit spending (Imagine their arrogance!). Citing the "needs" of other [...]
We are come hither to preserve the poor commonwealth of Virginia, if it can be possibly done: something must be done to preserve your liberty and mine. - Patrick Henry, 5 June 1788, arguing (correctly) against Virginia's ratification of the proposed Constitution. We turn our attention for a foray into history. It's been said that [...]
History doesn't repeat, but it sure as heck rhymes. That's why some of us are troubled by the parallels between our current fiscal situation and the response by various levels of government to the West's most memorable brush with severe financial turbulence since the 1930's. We have too much debt; by that, I mean personal [...]
UPDATE: A Politico article today titled, "How Dems' NRA loophold backfired" is reporting that the Disclose Act has been temporarily pulled (the vote was expected today) because they don't have the votes. Keep up the pressure. They are trying to reorganize only to try another day. __________________________________________________________ We have been warning you this week that the Disclosure [...]
