runner

A Very Cheap Shot on the WSJ Editorial Page

talk is cheap. money talks.

let's talk not about WSJ and the analyst and their relationship, but about the 5 TRILLION that the US taxpayer has taken on, fearlessly, without any objections from anyone who is paid to look out for the taxpayer and his currency.

The Dollar's Decline: Taking Responsibility for the Future

"low taxes" in the USA
-27% Fed tax
-8.5% state ax
-5% city tax
-16 % medicare + social security tax
- 8.75 % sales tax
- $1500 / month property tax
- some 9 taxes on my phone bill


And BTW, you DON'T get health insurance after all these taxes. You still have to pay for it. Comparing "low" US taxes (ie, comparing only Fed taxes), to "high" taxes elsewhere.... very clever - in EU, they get health coverage as part of their tax burden.

Back to 1998: Lessons from the G7 Then and Now

The "bright new financial system" is based on lies and cheating. There was a tacit understanding all along that during good times Wall St and real estate speculators would make off with the loot. When the downturn arrived the public would bear the risk.

But if your competitor gets away with it, you are a fool not to. That is why, unlike Mr Greenspan who blames the "investment community", I would lay the blame squarely on the government.

Eventually, it is the government which draws the line between what is permissible and what is not. If the govt goes on holiday, or on obtuse lecture tours, then eventually everyone will be forced to become a thief.

Fed Easing: No Free Lunch for Dollar, Oil and Commodities

those who have media and political connections should start raising the idea of abolishing the Fed. Otherwise hyperinflation is practically guaranteed.

The Credit Bubble: Deregulation Gone Wild

the motto of investment banks (really camouflageg day traders/hedge funds) is to take the money and run. And any systemic risk created will be underwritten by the Fed (the "risk mgmt" of Greenspan)