I’ve always admired former Fed Chairman Paul Volcker. He’s a ballsy giant of a man whose plain talking stogie puffing ways and role in breaking the stranglehold of banks in the ’80s precipitating the S&L crisis have made him both a household name and a reputation as one of the most straightforward and down to [...]
There is a lot of talk presently about excessive executive compensation. Many are deeply angry about the looting of our companies and country by a handful of nepotic plutocrats who serve on each other’s boards and award excessive compensation packages to one another, and rightly so. Executive compensation here in the States is vastly more [...]
Here is part two of my interview of MPM of The G Manifesto. Part one featured International Playboy game. I think this information couldn’t be more timely, since America has a long way to go before we return to any measure of our former prosperity, and dating American women is becoming more tedious by the [...]
Buy when there’s blood in the streets. I personally feel we have a ways to go, at least in my market, before the bottom is reached, but this strip sums up the intelligent investor’s approach admirably. People have been sold a myth by the Realtors association that caused them to take outsized risks with great [...]
Thought the TARP, TALF, AIG and Automaker bailouts were egregious misallocations of money we don’t have? Try this one on for size. The amount of undisclosed non-public off balance sheet deficit expansion under the Fed since the Credit Crisis dwarfs what we have heard about to the tune of eight trillion dollars. All the above [...]
Despite government assurances the economy continues to falter with further problems for which we have yet to feel the effects. Though the market has rallied substantively off the March lows, most believe it to be a sucker’s rally and I have been using the opportunity to raise cash. I don’t buy the “green shoots” argument [...]
As the financial crisis continues placing a drag on our economy and the dollar, I’ve often wondered why we aren’t seeing more indictments of those at the helm of these corporations that have so threatened our way of life. The scope of this fiasco makes the S&L crisis look like chump change. Have we come [...]
The latest episode of Frontline: Ten Trillion and Counting aired last night and can be watched here. It highlights the stratospheric ballooning of our national deficit over the past decade, which has now reached a crescendo in the orgy of bailout funding in which Wall Street is currently awash.
As I write this the Dow has dropped below the recent support level of 7000. This is obviously undesirable and indicates growing bearish sentiment among investors. Additionally when a new support level is tested, a massive barrage of program trading is initiated adding to the downward pressure on the market. The media is awash with [...]
What happens when the US economy implodes? We have come dangerously close to finding out. The lack of clear leadership the subsequent fumbling for answers and tools to diffuse the danger showed we were entering uncharted territory. The stock market collapsed. Credit markets dried up and our economy based on cheap easy credit, froze as [...]
