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It’s the Economy, Stupid!! »

The American public is becoming increasingly wise to the ways of Wall Street and Washington.
Many Americans were duped by financial practices and products emanating from Wall Street. Where was Washington? I would assess Washington’s involvement and responses in the following fashion:
1. At worst, Washington was complicit given a wide array of failed public policy [...]

UN Calls for New Global Currency in Place of Greenback »

What drove the U.S. dollar dramatically lower yesterday? How about a communique from none other than the United Nations Conference on Trade and Development. UNCTAD recently released a statement in which it proclaims:
Given the prevailing major shortcomings in the international financial and monetary system, UNCTAD draws attention to some elements of reform of the international [...]

Finally, Someone Is Talking Some Common Sense »

There has been lots of talk recently about the Health Care Bill, what it contains, how it will be run, and who it will cover. Many folks claim that since the government does such a bang-up job with Medicare, it should be no problem for them to pick up millions and millions more people [...]

Deadly, With No Known Antidote: Obama’s Blowfish Budget »

In “President Obama’s Ambitious Agenda on Crash Course With Fiscal Realities,” Stu Varney, on Fox News’s America’s Newsroom, exposed a ruinous weakness in Obama’s reckless, contraindicated spending spree: Tax revenues are down 25% (!), and April 15th is NOT going to be a lucrative day for the U.S. government. With escalating unemployment, and more and [...]

I Have Some TIPS For You »

In the midst of the massive government intervention in the economy and markets, the Federal Reserve is providing measures of liquidity that are truly “off the charts.” This liquidity, in the form of U.S. dollars, is flooding the economy. If and when the economy gains a little traction and the money multiplier kicks in, [...]

Putting the Genie Back Inside the Bottle »

The genie, in the form of the Federal Reserve, has granted the markets a lot more than three wishes over the course of these challenging economic times. What are some of the wishes granted so far? Let’s review:
1. cutting the Federal Funds rate to a range of 0-.25%.
2. backstopping a wide array of short term [...]