SAF

This Recession Is a Reset to a New Normal

I fully agree. There has been a reset.

Morningstar's Biggest Error: The Perils of Youth

Marc: Nice piece.

Buffett's Import Certificates Plan Could Pilot the Economy to a Safe Landing

Buffet's scheme is another set of rules that will be circumvented and to the clever will go the spoils.

Consider this:

Under the same set of laws, SEC rules, economies etc. Buffet made his share holders billions and Madoff stole all his investors' money. And what this show is how ineffective all these laws are. Buffet was an honest broker and Madoff was not. And that in entirety is the difference in the outcomes as every other piece of the playing field was the same.

More rules and schemes won't do the job. We need an overhaul of the SEC and banking rules to make them much simpler. And then we need to enforce them. Good rules would let a Buffet thrive and stop a Madoff at the $50K mark not the $50B mark.

A Most Dangerous Inflection Point

Krugman lives to dis Milton Friedman. It will be a fair fight now since Milton is dead. When alive in his 80's he would have had Krugman for a light pre-lunch snack.

Paul Krugman + Al Gore = The Way Forward

The Europeans who signed on to Kyoto did not make their emission goals. The only way to make those goals is with a great depression. I took over 10 decades to get to the oil consumption levels the world is at now (and growing) and it will take perhaps a decade just to get to zero growth let alone a reduction in use.

Any country that unilaterally decides to scale back will face enormous economic difficulties if done the Gore way. In Japan oil imports actually decreased from the late nineties to now. How did they do it? They built dozens of nuclear plants and stopped burning oil for electricity. Here in the US it takes 3 to 4 years to get a permit to move rocks in a lake from point a to b to form a breakwater.

The massive economic efforts required to make dubious environmental goals will be a disaster. Franky I hope they get implemented because its failure is the only way to snap you guys out of the CO2 is bad religion.

Thursday Outlook: Wipeout?

Nice work as usual. Michael Corleone said it in Godfather III. Don't recall ever seeing the Jimmie Durante shtick.

Why Patriotism and Your Portfilio Don’t Mix

Only thing missing here was the vote for Obama sticker.