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  • Economists Predict Blue Skies Ahead [View article]
    Keynes is still a God in academia and obviously as well at all levels of the Fed, because top down regimes are the ones that employ the most economists to justify big government. The "invisible hand",in contrast, needs economists merely for projections, not for policy making.
    May 25, 2010. 11:27 AM | 5 Likes Like |Link to Comment
  • Job Recovery Depends on Housing Improvement [View article]
    It's really a chicken/egg situation. More jobs would create more demand for housing, probably in a much greater dynamic than an increase in housing creating more jobs. Given the humongous inventory overhang, I would opt for jobs/housing rather than housing/jobs.
    May 25, 2010. 11:13 AM | 1 Like Like |Link to Comment
  • Federal Housing Administration's Stevens Is Right: The System Is Sick [View article]
    The author's comments are one of the principal reasons why I have been so "down" on the housing markets in the most troubled sunbelt areas. 1000s of homes in gated communities with a median price above $500k. No available credit means no upsizing, no downsizing, no move of any kind. These homeowners are effectively imprisioned by circumstances. Hardly a "free" market.
    May 25, 2010. 10:36 AM | 1 Like Like |Link to Comment
  • Origins and Development of Economic Crisis, Part II [View article]
    Why do I have the sneaking suspicion that we are all being maneuvered, both in a subtle and incremental way, into a new one world order and currency, by both the banksters and the pols?
    May 24, 2010. 03:22 PM | Likes Like |Link to Comment
  • Have You Seen M3 Lately? [View article]
    "we'll be seeing lots of minus signs"

    As long as the Gov't keeps manipulating/massaging the CPI, that might be true; but there are many signs of inflation at the grocery store.
    May 24, 2010. 12:33 PM | 7 Likes Like |Link to Comment
  • What Should We Do With Fannie and Freddie? [View article]
    The key in the proposal is the phrase "conforming loans". Would the definition of "conforming" be bi-partisan, or intensely partisan. The Progressives will still fight for looser requirements, while Conservatives will want to return to market rate interest and at least 20% down. Just another stalemate.
    May 24, 2010. 12:26 PM | 3 Likes Like |Link to Comment
  • Government's Mortgage Modification Program a Curse in Disguise [View article]
    Those that can walk away, do so; it's called strategic default. Those that can't, don't even have the income to support interest only payments; the "liar" loans were that egregious.

    There are some in the middle of these two extremes, but apparently not enough to make a real difference. A better solution would be for the lenders to effectively "rent" the homes to current qualified occupants, and "Extend and Pretend" to infinity.
    May 24, 2010. 09:47 AM | 2 Likes Like |Link to Comment
  • The Must Know Truth About Gold [View article]
    Obama can't allow any of the great progressive entitlements states to fail; his agenda would be proven to be a lie. I even expect a bailout to address the unfunded union pension plans.
    May 23, 2010. 01:32 PM | 10 Likes Like |Link to Comment
  • Barney Frank on Housing: No Wonder the Economy's a Mess [View article]
    When economic, fiscal, monetary, and social policy are formulated based on the progressive mantra of social justice, it is the beginning of the end for the capitalist system of Adam Smith, Hayek and Friedman. Keynes is still a God in the economics and business departments of the elite universities.

    Frank has refused to take any responsibility for the meltdown, even though his "relationship" with a F&F executive was well known. What's even more egregious is that Dodd, the co-conspirator on the Senate side, has crafted the new FinReg bill, which undoubtedly will have some severe unintended (or actually intended) consequences for our economy as a whole, but still allow a never ending stream of contributions from the TBTFs.
    May 23, 2010. 11:22 AM | 17 Likes Like |Link to Comment
  • Why It's Time to Invest in Bulldozers [View article]
    We would have been infinitely better of if we had let things crash and produce the ultimate free market solution. The world wouldn't have come to an end. In spite of the bailouts, credit is still frozen. The TBTFs have powerful political allies (both sides of the aisle). LB and BS were scapegoated for appearances while GS, Citi, BA, JPM, etc. have been allowed to manipulate their way to healthy balance sheets.
    Extend and pretend has become an insidious virus throughout our economy.
    May 23, 2010. 11:06 AM | 13 Likes Like |Link to Comment
  • Krugman Laments the Coming Lost Decade [View article]
    And the top down big government spending and control is working oh so well for Club Med and, let's not forget our fascist friend Hugo?
    May 22, 2010. 09:53 PM | 2 Likes Like |Link to Comment
  • New Financial Regulation Greeted With Market Meltdown [View article]
    Unfortunately, we aint seen nothing yet. I'm just waiting for all the unfunded union pension liabilities to miraculously disappear via the Fed printing press. We wouldn't want riots in the streets like Greece, now would we?
    May 22, 2010. 06:13 PM | 1 Like Like |Link to Comment
  • Starbucks: Slower Growth Ahead? [View article]
    Many of us habitual coffee drinkers have long wondered what the hell makes Starbucks grow. In an informal survey of my peers, both Dunkin' and McD's rate higher and at a significantly lower cost. Can someone please explain the attraction of this brand?
    May 22, 2010. 01:46 PM | Likes Like |Link to Comment
  • Are Housing and Banking Signaling a Double Dip? [View article]
    The answer to the question posed by the title of this article:

    Yes, yes, and (unfortunately due to the misguided or intentional policies of those who oppose any free market solutions):

    May 22, 2010. 10:47 AM | 4 Likes Like |Link to Comment
  • 'Sell Gold, Buy Oil: The Numbers Are Clear' - Oh Really? [View article]
    No comments on the Fed manipulation, along with the usual suspects, of the silver price which, in turn affects the gold price. We wouldn't want a safer haven than US Treasuries, now would we?

    The future problem that I see, if gold rises above $2000 (in spite of the manipulation), will be talks of confiscation or limits. Hillary has already signed us up for the UN treaty for small arms control which needs Congress for full ratification. The new currency controls of this Administration are also problematic. The fine print in the Health Care Bill and in the proposed FinReg bill grant the bureaucrats unprecedented access to personal and financial transactions.

    First our guns, and then our PMs? No, I'm not a conspiracy theorist, but the dots are out there for anyone to connect.
    May 22, 2010. 10:29 AM | 8 Likes Like |Link to Comment