Do you remember when you were a child and your parents told you that sometimes going to the doctor meant feeling some pain, but that was the best way to get well the fastest? Iceland followed the adult path after their own financial crisis; they took the pain like adults, and now they are getting [...]
Gretchen Morgenson interviewed by Chris Martenson: 20 minutes. "Gretchen Morgenson: Wall Street Really Does Enjoy A Different Set of Rules Than The Rest of Us " The robo-signing scandal and the unsettled double standard it illustrates are discussed.
ANDREW KLAVAN: WALL STREET ON TRIAL From the Manhattan Institute, a 5 min video by Andrew Klavan, City Journal Contributing Editor: ...two hearts with but a single thought., a government that will take other people's money and give it to us. ~as asserted by Edmund Gorge, President, CEO, Consolidated Avarice
The progressive/Marxist/socialist armies are mobilizing against authority and the civil society in multiple locations across the country.
The world of political commentary (at least that part of it not campaigning for Obama’s re-election) is abuzz with excitement over a trailblazing new book that shows vividly and convincingly what happened to cause the terrible financial crisis that’s gripped the country since 2008 and—most important—who’s responsible. The book, Reckless Endangerment: How Outsized Ambition, Greed, [...]
By Jamie Jacoby No more beating around the bush. I don't work for you, you work for me. Got it? Do you want my vote in November 2012? Here are my terms: 1. If you nominate retread insider George Allen to be the Virginia senate candidate, I won't be voting R 2. If you raise [...]
There's a lot happening, so this installment is teasers and links to several important financial news items. Bloomberg: Bernanke Asset Purchases Risk Unleashing Inflation (Update1) Bernanke next week is likely to preside over a decision to launch another round of large-scale asset purchases after deploying $1.7 trillion to pull the economy out of the financial [...]
(Data sources are US CBO and Federal Reserve) The chart above (click, then click again to enlarge) shows three data sets: 1) in red, the federal budget deficit; 2) in dark blue, US Gross Domestic Product (GDP), the supposed size of the US economy; 3) in highlighted light blue, shows what US GDP would be [...]
There is a great article and video on Yahoo Finance that talks about how all the big Wall Street Banks are receiving loans from the government at near 0% interest and then the banks are turning around and lending that money back to the government at 3-4% interest.