Economics

Trust Me

April 20, 2009

Decisions, decisions. Uncle Sam or the Robber Barons, whom do you trust? Don’t answer too quickly. The crisis we face is far too dangerous for us to continue playing games. It is far too serious for us to base all of our decisions on myths. Capitalism, socialism, communism, mercantilism, all isms are juvenile attempts at […]

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The Class War Is Lost

March 27, 2009

Did you even notice that there was a war going on? There has been a one-sided class war going on for decades. It is now over.  The elites won decisively. It’s really quite odd. Few of the poor and middle class realized it was happening. Most of the wealthy also were unaware of the war. […]

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Don’t Get Your Hopes Up

March 16, 2009

Actually, hope is a good thing. It’s good psychologically. It’s even good for the economy. It’s just that a systemic, global meltdown isn’t ready to disappear quite so quickly. It has been said that expectations are the largest factor in determining the ups and downs of the economy. A little hope is giving us the […]

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Odds And Ends

March 11, 2009

There are so many issues on which to comment that I can’t keep up. Each one deserves at least a book, as an antidote to all of the nonsense clogging up the airwaves, cable, the Internet and the dead tree media. Note: I have a special video treat for everyone staying to the end of […]

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The Dow-Jones Illusion

March 3, 2009

All bubbles will burst but debt will remain. People are prone to believing the illusion that the Dow-Jones numbers are a measure of wealth. Were you wealthy when the Dow was over 14,000? Has your wealth vanished? No and no. Your wealth hasn’t changed. Only the illusion that you were wealthy has disappeared.

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How Lucky Can We Get?

February 27, 2009

Someone asked me a question this morning in the locker room of the YMCA. As I was responding, someone else chimed in that the cause of all of our economic problems was that FDR had abandoned the gold standard. I tried to come up with as humorous a retort as I could that early. It […]

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Upside Down

February 24, 2009

A commentary by a noted economist. Reactions to that commentary on the Sunday talk shows. At first glance it appeared that the world had, overnight, turned upside down. First impressions aren’t always accurate. There was South Carolina Senator Lindsey Graham (John McCain’s BFF) willing to consider nationalization of banks. New York Republican Congressman Peter King […]

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Joe The Illiterate

February 24, 2009

Joe the Plumber became a media star, a foreign correspondent, a lecturer to Republican Congressmen and an expert in various other areas without ever having been a plumber, or even a Joe. Joe Scarborough became a politician and television star with no ability to communicate. Joe’s problem, one of many, is a total unfamiliarity with […]

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Decisions, Decisions

February 23, 2009

Actually, we don’t have a choice to make. It has been made for us and was never in question. We are going to save the bankers. Why? Because the bankers in government think exactly like the bankers, their friends, who are not in government. They all consider themselves and our banking system to be indispensable. […]

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Let Them Eat Cake

February 5, 2009

Have you watched television lately? A survey showed that the economic do-dos have received more than twice the air time on news shows as those who have advanced to at least the early 20th Century. Watching these twits I sometimes find myself laughing, until I remember how much power they have to screw up any […]

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