Financial Armageddon

Yes, I'm sure it reflects confirmation bias on my part, but it's hard to ignore Howard Davidowitz's thoughts on the state of the economy given that he has in recent years been correctly pessimistic on prospects for a sustainable recovery....
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According to USA Today, "Government anti-poverty programs that have grown to meet the needs of recession victims now serve a record one in six Americans and are continuing to expand. Hmmm. Not exactly a V-shaped recovery, is it?
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A documentary on the financial crisis which premiered in May, Overdose: The Next Financial Crisis, is now posted on YouTube. Based on Swedish writer Johan Norberg’s book Financial Fiasco, the film features insights from Peter Schiff, Gerald Celente, and others...
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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...
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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...
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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...
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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...
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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;...
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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...
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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...
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