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Tuesday, September 30, 2008

Not a Bailout--A Rescue

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"Why did the $700 billion dollar plan fail? Because Americans, whose phone calls to their legislators have been running 100 or 200 to 1...

Dumb rating agencies have no clue!

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The ratings agencies just don't get it. There is never a payments risk with a nation that issues its own currency. There might be an exc...
2 comments:

Congress repeats 1930s errors with bailout vote

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A very interesting article. "In the 1930s, the US Congress did more than its fair share in helping to turn a financial crisis into a gl...

Payments crisis developing in the Eurozone!

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European countries are not sovereign, currency issuing nations and therefore are highly limited, fiscally, in being able to address a proble...

Fed lending unsecured to the ECB

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We hear all about "taxpayers" on the hook and the Fed asking for collateral from U.S. banks and financial institutions before it w...

The names who voted "No"

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Yesterday, Americans lost $1.5 trillion in wealth--more than twice the purported "cost" of the bailout. Below is the list of names...
Monday, September 29, 2008

Lehman: Where it all began

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When the Government let Lehman fail I said that the whole crisis had fundamentally changed. That day, the Dow dropped 500 points. Until then...

Beginning of the end of the euro?

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Expanding currency swap program between the Fed and European Central Bank (to satisfy member countries' dollar demand) could end the rei...

House defeats bailout plan

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I knew it! Monumental ignorance of the citizenry gave political "cover" to know-nothing Republicans (and some Dems) in the House.
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European banks now falling

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Overnight European governments stepped in to rescue Bradford & Bingley Plc, biggest lender to landlords, while governments in Belgium, t...
Sunday, September 28, 2008

Warren Mosler's conments on Wamu, IndyMac

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Mosler comments on his blog concerning regulatory failure and the (perhaps) needless demise of IndyMac and Wamu. Just saw a regu...
Friday, September 26, 2008

CNBC's Melissa Lee gets it!

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I just heard CNBC reporter Melissa Lee say it in the most clear terms so far. She said to the 85% of the public that is so dead set against ...
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More China rate cuts expected

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Should be good news for China market. Start buying China stocks again! China to cut rates further, Korea may follow - BarclaysFrid...

The real legacy to our grandkids

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The real legacy to our grandchildren will be the loss in output that will come about as a result of not doing anything. That will lower both...
Thursday, September 25, 2008

McCain sides with conservatives and House Republicans who question the bailout and its costs to taxpayers

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Ths is bad thinking and based on a false understanding of government finance. The only cost to taxpayers is a small increase in debt service...

No deal means an even bigger, more comprehensive deal down the road

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Blame Senator Richard Shelby (R-AL) for scuttling this deal. His ilk have their minds in the age of the gold standard. (Read my previous pos...

Another astute BizRadio listener...

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Just received this email from a BizRadio listener. He was commenting on remarks made by Alabama Senator, Richard Shelby. [Shelby] Just said ...
1 comment:

Cato Institute still believes we're on the gold standard

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Article by Steven H. Hanke of the Cato Institute. My comments in italics. Since 2001, the bush administration has entangled the United State...

Bernanke quoting Buffett

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CNBC has been running promos that show the Fed Chairman telling Congressional lawmakers that he saw Warren Buffett "on TV," saying...
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Wednesday, September 24, 2008

Dems seek to slash bailout

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Probably irrelevant at this point. While any reduction in the size of the bailout will (negatively) affect the markets short-term, the long ...

Listeners of the Mike Norman Show on BizRadio get it!

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Dear Mike: I am a CEO of a small Pink Sheet company here in Houston and listen to you almost every day. I just want to thank you for speakin...
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Pension funds behind the subprime mess

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Tnis is taken from Warren Mosler's blog : Did you know that ERISA was amended on November 2000 to allow pension funds and empl...

Oil back up

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Speculators are re-entering the oil markets on the long side and how can you blame them? They've had some encouragement in the form of O...

Bailout could be contractionary

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Once again, Warren Mosler is spot on in his analysis of what could a very contractionary result if Congress acts as if this bailout must be ...
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Tuesday, September 23, 2008

The bailout is NOT inflationary!

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The media has been reporting that the bailout will lead to a Germany style hyperinflation. This is completely ridiculous. Below is an exampl...

Household debt levels fall

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The Fed's Financial Obligations Ratio, which looks at all debt service payments as a percentage of income, is now down to the lowest lev...

Oil Short Squeeze Prompts Call to Curtail Speculators

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A provision in the bailout bill would seek to limit speculators. This is necessary as part of a "comprehensive" package to fix the...
Monday, September 22, 2008

Oil spikes $25 a barrel on anxiety over US bailout

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Specs are back, big time! Congress must curb (or put a ban entirely) on speculators now. And they will!

Too many loose ends, still

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Too many loose ends The Treasury bailout plan is a good start. There must be a vehicle to remove the bad assets from bank balance sheets and...
Thursday, September 18, 2008

Short selling ban was a necessary move

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Private companies are not subject to short selling, yet private companies are bought and sold every day and poorly run private companies fai...