Daily Archives: July 14, 2009
Our $17 Trillion Chinese Split Won’t Be Pretty
Returning from China last month, U.S. Congressman Mark Kirk had a bearish take on a high-level visit by American officials. Treasury Secretary Timothy Geithner claimed the U.S.’s biggest creditor voiced great confidence in its debt. Kirk, an Illinois Republican, came … Continue reading
Here’s the clincher: Year-to-date, Dow Jones stocks are off 7 percent, while China stocks are up 71 percent
Washington’s enormous expansion of the government’s spending share of GDP to over 40 percent — including Bailout Nation, TARP, and government takeovers in numerous industries — is eerily reminiscent of Old Europe’s old policies. In a twist of irony, Europe … Continue reading
“Let’s not remember California as a bloated, rotting freakshow corpse hanging above a filthy public pension toilet”
Under the management of the flamboyant Austrian body builder / therapist, California began a rapid descent that ultimately ended in death. Some faulted Schwarzenegger’s unconventional therapeutic methods and prescription spending pills, including state pension steroids that some say were powerful … Continue reading
Look, let’s not beat around the bush: Wall Street economists, as a group, well, they suck.
Most of them did not see the crisis coming; many were deep in denial about the recession long after it started. They missed the housing boom and bust, the credit crisis. They continued to see phantom bottoms and false recoveries … Continue reading
That thing called China
In a recent Wall Street Journal/NBC poll, 49% of Americans said they were concerned a great deal about federal deficits and government involvement in the economy. America’s gross government debt is expected to climb from 62% of national income to … Continue reading
Global Banking Economist Warned of Coming Crisis
William White predicted the approaching financial crisis years before 2007′s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy. William White had a pretty clear idea of … Continue reading
