Karl Denninger on why you should stop paying your mortgage:
Stop Paying Your Mortgage Today - [The Market Ticker]
I love the subversiveness of this. Of course, just as Karl insists, you should only consider this if you have a “no-recourse” mortgage and can take a hit to your credit score, but it’s a great F-U to [...]
Posted on the Campaign for Liberty blog:
Dear Friends:
The financial meltdown the economists of the Austrian School predicted has arrived.
We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt [...]
I would think the indecision, waffling, and whoa-is-me-I-don’t-know-what-to-do attitude of the politicians in Washington are funny if the situation they’re dealing with weren’t so serious. Seeing no serious backlash to the bailouts and takeovers of the previous two weeks, the two candidates approved of the bailout. But people started to really see the numbers involved [...]
I was told (albeit by a long time Bush supporter) that this was Bush’s best speech since 9/11. While I do admit that he is somewhat articulate by his standards, and I tried to listen to what he had to say with an open mind, I found myself disagreeing with most of what he said.
It [...]
And now AIG gets nationalized. This is crazy. Wall Street is imploding in front of our eyes, and the average person doesn’t seem to get it. I have no qualms in saying that the presidency of George W Bush might be the worst in our nation’s history. I certainly don’t blame him or his administration [...]
Excellent article by Nouriel Roubini at RGE Monitor:
Comrades Bush, Paulson, and Bernanke Welcome You to the USSRA (United Socialist State Republic of America)
An excerpt:
Like scores of evangelists and hypocrites and moralists who spew and praise family values and pretend to be holier than thou and are then regularly caught cheating or cross dressing or found [...]
