Welcome! This is an unapologetic, agenda-free zone. Just commentaries on current events that’ll move you to think, laugh, rage, and even cry.
Smaller shopping carts Over the past three years, the Federal Reserve has tried everything to reduce inflation. Yet, it remains stubbornly high. Prices for everything from food to gas and rent are causing a malaise of economic discontent. An exasperated Biden must be pulling out his white hair— well, what little remains of it. He… Read more.
The World Economic Forum at Davos The annual gathering of business and political elites at the World Economic Forum (WEF) in Davos, Switzerland, concluded yesterday. However, this event often reeks of hypocrisy, so much so that forum discussions do little more than emit the CO2 attendees continually pledge to reduce. Especially notable are their backslapping pledges to combat climate change and… Read more.
President Biden was already the most successful one-term president in US history. He implemented more transformative legislation than any other. And he did so, despite partisan obstruction not seen since the Civil War. This accomplishment explains why he’s a master negotiator. It’s why nobody should have doubted him. Sure enough, he has now managed the… Read more.
Frankly, if nothing else, this latest bailout should finally destroy the myth that the US is running a capitalist, free market economy. After all, this (and the other government bailouts cited above, which effectively privatized shareholder gains and nationalized losses), coupled with longstanding corporate subsidies, is indistinguishable from the way China runs its socialist, centrally planned economy. [Chickens come… Read more.
Yesterday afternoon, after 48 hours of political theater, the Bush administration and congressional leaders finally agreed on the $700 billion rescue plan, which they touted as a “Wall Street bailout to save Main Street.” This, despite ideological carping by a few nutjob Republicans who, after leading the charge to double the national debt to over… Read more.
In 1929, the government did nothing and the fall led to the Great Depression; whereas today, it has moved over one trillion dollars (i.e., $1,000,000,000,000.00) in place to cushion the fall, hoping to stave off an even greater depression. But don’t worry, many of the erstwhile masters of the universe are so disoriented by the sudden loss of… Read more.
A number of people have asked in recent months why I have written so little about the sub-prime mortgage mess and its impact on the US economy. I often replied that I didn’t have a clue what to make of the mess or what it portends. (Evidently, I am not nearly as clueless as John McCain… Read more.
