Early Results On “Stimulus Package” – Greed, Corruption & Stupidity
The US Senate and House of Representatives is busily putting together a stimulus package that should cost $825 billion. The massive spending package, all conducted with borrowed money, will be spread over a wide variety of programs [...]
‘Atlas Shrugged’ – Banned in Washington
Equality Through Poverty Ayn Rand’s 1957 classic novel, Atlas Shrugged, depicts how governments ultimately destroy the most productive sectors of a society, leaving everyone equally poor. ‘Atlas Shrugged’ : From Fiction to Fact in 52 Years Stephen [...]
The Stimulus Plan Condemns Us To Further Wealth Destruction
Will Spending Borrowed Money Create Wealth? There seems to be near universal agreement at all decision making levels of government that we can borrow and spend ourselves into prosperity. Let’s consider some worthwhile contrary opinions. Leave the [...]
Insolvent Banking System Eludes Government Containment
Denial Of Reality Becoming Impossible The game of pretending that the world banking system and national governments are solvent becomes more difficult by the hour. The true magnitude of the write downs that the banking industry needs [...]
We Are All Keynesians Now
Do Deficits Matter? In the short term, it may not matter what anyone thinks. There is a near universal political consensus that spending is the only solution that will save the economy. This consensus is backed by [...]
Congress Proposes Cram-Downs As New Mortgage Solution
The plight of homeowners delinquent on their mortgages has been the focus of much debate lately. There have generally been two major lines of thinking: -The best course is to let free market principles apply. If homeowners [...]
Fed’s Asset Purchases Continue To Expand
The $8 Trillion Dollar Bailout NEW YORK (CNNMoney.com) — Sitting down? It’s time to tally up the federal government’s bailout tab. There was $29 billion for Bear Stearns, $345 billion for Citigroup. The Federal Reserve put up [...]
The Risk Of Higher Mortgage Rates
Mortgage rates again ticked higher Friday as the treasury market continued its sell off. Most of the good news may already be priced into the treasury market that mortgage rates are based on. Reasons why mortgage rates [...]
Promises That Cannot Be Kept
Did Bernard Madoff run the biggest Ponzi scheme of all time, or does this honor actually belong to the US Government? Is Social Security A Ponzi Scheme? In the aftermath of the Madoff implosion, quite a few [...]
