A lot can happen in a month. A new president gets elected based on the mantra of change, but immediately starts staffing his cabinet with hardcore Washington establishment players. Citigroup gets a bailout. The Big 3 automakers fly in on their corporate jets and ask for a bailout but get denied. The Fed takes on [...]
People want to know what caused this crisis, and more importantly, how to fix it. Everything we’ve heard from our leaders in Washington has been wrong, and that is why the market is not responding to the “rescue package” (read: Wall Street bailout) and to the billions of new dollars being pumped into the system. [...]
David Brooks at the NY Times discusses how the Republican party has aliented and pushed away the “intellectual” or “educated” crowd in favor of the “average Joe Sixpack” in the non-coastal states. Just take a look at the current electoral map to see how true this has become. Being in the “educated” class and living [...]
Mr. Roubini revisits his thesis “The Risk of a Systemic Financial Meltdown: The 12 Steps to Financial Disaster” and explains how all 12 steps have come to fruition. When reading this, I’m struck by something else Mr. Roubini has mentioned numerous times: why has the political and financial leadership not called in economic experts (i.e. [...]
There may be hope after all. Or it may be more politics as usual. The House of Representatives “shocks the world” and rejects the $700 billion bailout plan. The stock market tanks, and everyone freaks out. I think one of the good things that could come from this whole mess is that people will start [...]
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 [...]
So let’s start things off with everyone’s favortite debate-generating topic: politics! Election season is in full swing, and the mainstream media is full of worthless stories detailing the bickering between the two campaigns and the two parties. The buzzword for this election is change, but I don’t see very much of that in the campaigns [...]
