Tony Petroski

Tony Petroski
Send Message
View as an RSS Feed
  • John Hussman: Applying Ockham's Razor to the Current Crisis  [View article]
    When did it become legal under the U.S. Constitution for the government to "nationalize" banks or anything else. Does the present crisis justify "takings?" in which case there is supposed to be just compensation. Having the Treasury Secretary lose his nerve, panic the markets, cause runs on banks and then swoop in and nationalize banks without compensation because they are now all insolvent strikes me as impractical and illegal not to mention treasonous.
    Jan 26, 2009. 10:20 PM | 1 Like Like |Link to Comment
  • President Obama Receives an Economic Broadside  [View article]
    Great article Mr. Jackson. I agree that Obama sees the present difficulties as a golden opportunity to grow the government and expand the number of people dependent on government checks. That is the real lesson of FDR and the Depression. FDR's policies did nothing to stop the Depression, but those policies cemented the Democrats political gains for half a century and now Obama has a chance to replay the gameplan.
    Jan 26, 2009. 10:08 PM | 2 Likes Like |Link to Comment
  • At Least 43,000 New Obamaconomy Workers Freed Up  [View article]
    Yeah, the government can create an occasional TVA or Hoover Dam that produces something useful. They can't get things wrong all the time. The Moscow subway system was the 9th wonder of the world under the Soviets. The point is, for every good use of money, the government squanders the vast majority of its spending by lining the pockets of all the political camp-followers who feed at the trough without producing anything and that is a formula for stagflation.
    Jan 26, 2009. 08:38 PM | 8 Likes Like |Link to Comment
  • John Taylor Clears the Way for an Informed View of the Financial Crisis  [View article]
    We had the election to bring hope and change we can believe in.
    Jan 23, 2009. 03:14 PM | 1 Like Like |Link to Comment
  • A Stimulus Plan to Actually Improve Economy Fundamentals  [View article]
    Cut the rates for all businesses, not just "publicly-traded ones" and also cut the regulations as Whidbey suggested. That way we don't need an army of attorneys and regulators litigating what the "average worker" is, what the average worker's pay is, and we can sidestep Eurosocialism which is where we are headed now.
    Jan 23, 2009. 11:51 AM | Likes Like |Link to Comment
  • Deflation and the Treasuries Bubble  [View article]
    There is deflation in the real portion of the economy including housing, autos and oil-related fuels. There has been declining prices in video and telecommunication products for a very long time and people buy these devices without waiting for prices to fall further. There is large inflation in government-related costs including sales and property taxes and government-regulated utilities. These government-related costs are going to get larger. Deflation fears will prove to be short-lived and the resulting larger-than-normal inflation will inflate real-estate values, reduce the real cost of debt and set off the next nominal boom.
    Jan 22, 2009. 10:14 PM | 1 Like Like |Link to Comment
  • Jobs and Housing: No Gain, More Pain  [View article]
    The reported unemployment rate of 6.9% is just a fraction of the real rate. You must add in the discouraged workers who want jobs but instead sit at home watching Oprah. That is about 15.1%. Then you have to add in all the retired folks who no longer can retire and will soon be looking for work. That's about 18.5%. Then add in the underemployed. That is about 45.5%. That means the actual unemployment rate is 88% making our situation very much worse than the great depression but it also means we are near to the bottom which is 100%.
    Jan 22, 2009. 08:46 PM | Likes Like |Link to Comment
  • How Do You Recapitalize $1.8 Trillion in Bank Loan Losses?  [View article]
    On the Iraq matter, I agree with Socialism. It's not so much that we got a payoff from improving the lives of Iraqis. It's that we killed a lot of terrorists in the streets of Iraq rather than having countless Mumbai massacres in U.S. malls. What was the cost of shutting down the U.S. airspace for one week post-9/11 and then the resulting losses to the airlines and the U.S. economy? Think about that when one of the inhabitants of Gitmo ends up in a crowded U.S. mall shooting everyone and then blowing himself up.
    Jan 22, 2009. 05:45 PM | Likes Like |Link to Comment
  • The Problem with Government's Stimulus Spending  [View article]
    Why the universal proposals for the government spending money on "infrastructure," read: payoffs to big-city democratic machines as opposed to cutting corporate tax rates? I understand why Democrats want to fund their constituencies with government money, but where are responsible Republican voices of opposition?

    Good article.
    Jan 21, 2009. 09:57 PM | Likes Like |Link to Comment
  • Obama's Economic Ideas Don't Address the Problem - And the Market Drops  [View article]
    Maybe Obama will outline his plan during the 2012 campaign?
    Jan 21, 2009. 11:09 AM | 2 Likes Like |Link to Comment
  • Geithner's Baptism of Fire  [View article]
    I still await the Obama/Geithner bounce. Could we not at least get a half of a good day?
    Jan 21, 2009. 11:00 AM | Likes Like |Link to Comment
  • Japan, Turkey, Poland, Mexico the Rising World Powers?  [View article]
    I don't doubt the train from the airport to Bejing is gleaming. So was the Moscow subway system. So is the Cuban health-care system. The communist oligarchy has to be replaced at some point and the growing Chinese middle class may decide that man does not live by shiny trains.

    Mexico as a rising power? My plan is to offer the Mexican citizens a vote on becoming part of the United States. They would get 4 states and we could stop building the Southern fence (Congress authorized a fence. Has anyone seen any fencing go up?)

    Poland? A wonderful land and a remarkable people sandwiched between the Russians and the Germans. What about the next century will be different from the prior 10 centuries?

    Turkey? Taken down by the Islamists.

    What about India?
    Jan 16, 2009. 10:19 PM | Likes Like |Link to Comment
  • Can Americans Really Cut Back on Consumption?  [View article]
    Americans used to be free to do what they wanted. Those with an inclination chose to become Monks and live in a Monkery (thank you Victor Borge). They consumed little, produced little and attempted spiritual oneness with God. Others wanted big, fast cars, saved their money, bought those cars, and burned up gasoline. Those that wanted to help the homeless, went to the homeless shelter and helped the homeless.

    Now we are being forced into a channel, like it or not, in which we have to save the planet, go green and curl up in the fetal position to please the secularist Monks whose highest value is to committ suicide in order that we no longer infest the planet with our presence. Well I have news for you guys: some of us are going to go on consuming, and we ain't going to roll up and die!
    Jan 16, 2009. 09:21 PM | Likes Like |Link to Comment
  • President Obama: From Hope to Desperation  [View article]
    We (The American People) made a huge mistake when we stumbled down the road of affirmative action. On the eve of Martin Luther King day, it's worth remembering the famous dictum that we should judge a man by the content of his character, not the color of his skin. Unfortunately, we now have America's first affirmative-action President, and we can only hope that, like many other affirmative-action hires, that this one will work out.
    Jan 16, 2009. 07:19 PM | 1 Like Like |Link to Comment
  • Fiscal Policy Under Obama: Dig Holes and Fill Them  [View article]
    I agree with the comments of John Polomny. He wondered about the "dig holes and then fill them in" comment attributed to Keynes. I happen to know that the source of the comment was Yogi Berra. Seriously, I think it would be better to dig holes and then fill them in vs. giving people checks and sending them home to watch Oprah. The reason is that people are what their habits are. If they are in the habit of getting up, arriving on time, sober, and then working hard all day, those habits tend to persist. Obviously, there should be more worthy projects than digging holes.
    Jan 16, 2009. 07:00 PM | 2 Likes Like |Link to Comment