Little understood by those in the media (anyone surprised?) is what could cause the current credit blow-off and associated recession to devolve into a full blown depression. To understand, one has to take a brief trip down “Globalization Lane.” “Globalization” is a a term generically used to describe the opening up of product and financial [...]
Stock indexes are an indicator of investor confidence in the economic future. The Chart tracks the 40% decline in the Nasdaq Index since the beginning of the most massive series of government interventions in the private economy in American history. Clearly, investors are not confident that Congressmen, Senators, and Treasury officials have the insights to [...]
Big Bailout, Day 47: Can Government Fix The Crisis Government Caused? Click the boat to see all articles in Big Bailout Series Treasury Secretary Henry Paulson and Federal Deposit Insurance Corp. Chairwoman Sheila Bair testified before the House Banking Committee today. Paulson gave a vague summary of how bailout funds have been deployed so far.. [...]
As GM, Ford, and Chrysler patrol the halls of Congress with tin cups, begging for a share of The Big Bailout one wonders why the Media herd doesn’t place the blame where it belongs, squarely on the United Auto Workers Union. Toyota began building cars in America in 1984. Their non-union plants offer competitive wages [...]
For the next few weeks the latest applicant for Big Bailout cash, the auto industry will be the central front in America’s perennial ideological war. On the Left side of the war are collectivist ideas, backed by labor unions and Democratic politicians, and the public education establishment. On the right side are the ideas that [...]
Taxpayers Lose Now, Big Government Wins Later Click on the boat to see all the articles in the Big Bailout Series The Big Bailout…um “rescue” has finally been signed into law. Now we can all now breathe a sigh of relief – until the next government caused crisis emerges, calling for yet another government rescue, [...]
Day 13 of the Financial & Political Panic of ’08 Government to Fix The Crisis Government Caused Click on the boat to see all articles in Big Bailout Series In a nation where the people are supposedly free, and masters of their own destinies, we the people are hopelessly ensnared in the government’s web of [...]
In the first significant government act to address the financial crisis government caused, the Securities and Exchange Commission changed an accounting rule first imposed on American businesses seven years ago. The Big Bailout is Government’s effort to solve the current crisis caused by millions of low quality mortgages, issued by the government founded and chartered [...]
For a week now we’ve endured the dumbed-down slogans, contrived for voter consumption: “Now is not the time to point fingers” “Now we have to come together and get something done.” “There’s plenty of blame to go around.” We don’t buy it. Now is the time to determine who is at fault and what they [...]
Government may still try to fix the crisis government caused – but not today .Last week the self-appointed Smartest People In The World convinced the President, both candidates for President, and roughly half the politicians in Congress that a category five, financial catastrophe would engulf Main Street if the Treasury Department didn’t bail out Wall [...]
