Last Thursday Was the Bottom - It's Time to Get Back in [View article]
Bailouts & rescue plans are destined to fail unless congress and the country take off their rose colored glasses. There are deep problems within an economy overloaded to the sinking point with debt. Yes, the market will begin to sky-rocket. In fact, as the value of the dollar approaches zero, the market will double and triple itself every day.
The U.S. Economy Is Still on Life Support [View article]
So True! Basic issues have not been faced. Every 50th year in the Torah was a Year of Jubilee when all debts were forgiven. What must have been the growing economic turmoil as that 50th year approached or what was the value of a debt in the 49th year? We are seeing in the USA that approaching day of reckoning where the economic burdens of the past must come due. It will be a Year of Jubilee because today's debt will be excused by payment through hyperinflation or bankruptcy. America could live through the bankruptcy of Wall Street but the bankruptcy of the U.S. will bring Wall Street down as well.
Two months ago a parade of talking heads, with their charts, models and history, were confident that a drop in oil prices would "fix" the economy. Today it is the bail out of "Main Street" package that is the snake oil, I'm sorry, I meant magic elixir.
If the fed would give me a million bucks, I would provide a long "sensible" list of reasons why this would be good for America.
The debasement of the dollar would appear much greater except for another sad consequence of inflation: the continual debasement of the product to keep prices low. Whether it be thinner paper or the change from cocoa butter to oil, we have all noticed this phenomenon. Inserted in an old book I found a warranty for a sewing machine made in the 1920s - all parts guaranteed for 10 years! My favorite peeve is the Stanley thermos - When it was made in New Britain, Conn., it seemed to be indestructable - even when I would leave it on my truck tailgate and it would roll off and bounce down the highway after me. The only reason I would need a new one was when I didn't wash it for a couple years and my wife refused to open it any longer. However, my most recent didn't go 6 months before every weld and every piece of plastic was taped together. I was so disgusted I went to a website and was amazed to find the claim "built for life". However, it wasn't the product that was built for life but was built for how I live my life. Sorry, I'm an old man but I'll lay a few more thermos's in the ground before I head there myself.
The Financial Crisis Is Escalating Out of Control [View article]
Last Thursday Was the Bottom - It's Time to Get Back in [View article]
The U.S. Economy Is Still on Life Support [View article]
The Die Is Cast [View article]
The Credit Hostage Crisis [View article]
If the fed would give me a million bucks, I would provide a long "sensible" list of reasons why this would be good for America.
Looking Beyond Inflation - Barron's Interview [View article]
When It Rains, It Pours [View article]