‘Seeing Things for What They Are’
Although it does a pretty good job of keeping economic reality under wraps, sometimes bubblevision TV -- er, CNBC -- slips up and brings guests on-air who haven't drunk the Kool-Aid that many Wall Streeters and Washington policymakers knock back...
No Longer a Sacred Cow
Most people would probably agree on many, if not all, of the core services that a municipal government should provide. Arguably, the majority will involve protecting life and property, including upholding the rule of law. Why is it, then, that...
Growing Concerned Once Again
I've often made fun of the so-called smart money. Among other things, many of those who hold themselves out to be experts on financial matters failed to see the financial crisis coming and totally missed the boat when it came...
A Matter of When
In a new paper, "Guessing the Trigger Point for a U.S. Debt Crisis," George Mason University professor and economics blogger Arnold Kling speculates on when the U.S. might have to pay the piper for its many (fiscal) sins. Here is...
A Bad Assumption
Although many factors helped bring about the worst financial crisis this century, perhaps the most underappreciated was the widespread reliance on bad assumptions. Many people took it for granted that what had happened many years ago was, well, ancient history;...
Wide of the Mark
It's amazing how many individuals and organizations give the impression that they are the experts on their industry and yet, they don't seem to know a whole lot. Take, for example, the National Retail Federation, the world's largest retail trade...
Getting Shafted in Other Ways
When people talk about how Washington has helped its friends on Wall Street (and elsewhere) at the expense of the little guy, the discussion usually centers on taxpayer-funded bailouts and the various liabilities taken on by the government (think AIG...
Hard Times Out West
"It's getting that desperate here in California. The numbers are not telling the truth." In a YouTube video, "Desperate Americans Begin To Turn Houses in To Restaurants," the National Inflation Association discusses the lengths to which many people in "The...
‘History Is Littered with Bad Ends to Fiscal Irresponsibility’
It's probably fair to say that many people believe the best days of the American empire are behind us. That said, I would argue that the majority probably see a gentle decline, spanning decades or even centuries, with relatively minimal...
The Facts of Life
People like to couch these things in political terms, but in my view, regardless of what happens at the next election or which party is In power, past and current economic realities make it inevitable that three things are going...
Fodder for the Bulls?
Since bad news is good news when you are an equity investor, here are five recent reports that may well trigger a buying stampede when trading opens for business on Thursday morning (unless, of course, the "smart money" -- I...
