Midas Mulligan

Global Markets, Meet President Obama. Now What?

"The New America."

Credo quia absurdum.

Who Is John Galt? We'll Soon Find Out

Well done, Anton. 'Directionally' speaking, accurate in every detail.

Emigration of capital -- intellectual as well as physical ? Seek out Galt's Gulch. This time, however, it probably will not be found within the bounds of the Fifty States.

Please Close the Markets

"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

Thomas Jefferson
1816

Alas, what would President Jefferson think of a "swindle" on the order of $700 billion to preserve these fine, modern-day banking establishments ?

Here I Go, Criticizing Warren Buffett

An excellent piece; long overdue. Mr. Buffett did not amass his deci-billions by virtue of his "kindly uncle" on-air persona. Mr. Buffett is as ruthless and hard-nosed a businessman ( and now, one could say, "vulture investor" ) as any since the Gilded Age.

Why This Bailout Can't Work - And What Will

An excellent column, with a likely correct solution --- a solution which, unfortunately, will never be implemented either whole or in part. An Obama Regime, aided by an increased Democrat majority in Congress under Pelosi, Frank, Dodd, and Reid, will not only see to that, but will in all likelihood take the traditional liberal tack, and essentially go the other way entirely ( i.e., increase Government spending, raise taxes on income, capital gains, etc. ).

Why I Bought AIG Last Week

"Why I Bought AIG Last Week"

I missed the bus to Foxwoods.

Can Hank Paulson Lead?

It is encumbent upon Congress to preserve the system of checks and balances which has served this nation since its inception as a representative republic. To dispense with their constitutional duty would be an abdication of their responsibility to the American people. "TRAP" -- pardon the error, "TARP" -- should be scrutinized in a timely manner, but the Executive Branch should not be granted a no-strings, "blank check," replete with voting equity stakes and what amounts to a $700 billion "no doc" loan.

It's a Bull Market in Government Intervention

What with the proposed "Resolution Trust" clone and money market fund backstopping ( not to mention the FNM and FRE rescues ), it now appears that the "bazooka" analogy has come up a bit light, in terms of "throw weight." In light of the estimated cost of "TARP" for the beleaguered taxpayer -- some half trillion dollars -- the Treasury has upgraded the deployed weapons system from the conventional bazooka to a squadron of LGM-30G Minuteman III's.

$500 billion. Devastating throw weight indeed.

Armageddon Postponed

Nikola has it spot-on.

Are We There Yet? Not Even Close.

I completely agree with Mr. Sunshine's [ past and current ] comments, and would add that even if the "60 day" stress test passes without another financial sector calamity, the outcome of the national election could very well provide the shock for the next leg down: Democrat hegemony -- and a lengthy leg down it shall be.

Bank of America / Merrill: Shotgun Marriage

"...if indeed anything is worth anything at all."

Thus goes the requiem for the Great Real Estate Bubble.

5 Stocks to Buy if Obama Wins

Cosmetics should do well under an Obama regime; e.g., Revlon, the lipstick manufacturer.

Buying Berkshire: The Ultimate No-Brainer

While past performance of Berkshire Hathaway common has been undeniably superb under the rigorous eye of WEB, potential investors must be mindful of the fact that Mr. Buffett turned 78 years-old on 30 August.

Equities: In the Eye of the Storm

Re: Contributor wyosteven

You make several salient points. The greatest transfer of wealth in the history of this nation has been from the "Greatest Generation" ( those who fought and won the Second World War ) to their children, the "Baby Boomers" so-called. These " 'Boomers," however, have not quite been spending or making policy over the past thirty years. Indeed -- the "yuppies" ( thirty-somethings ) of the 1980s are the very same people. It is their children, unfortunately, who are now feeling the brunt of the housing bubble "pop," increasingly tighter credit, and a future filled with tax increases to pay the Government "benefits" of the retiring-en masse " 'Boomer" generation.

"Let the snake go" indeed. Such action, however, takes considerable political courage and will -- two things sorely lacking in the current political sea, regardless of party.

Questioning Obamanomics

The Democrat Party has apparently not yet learned from one of history's most invaluable economic lessons:

Command economies do not work.