Wall Street Breakfast: Must-Know News [View article]
Re: the dollar Deficits in excess of 10% of GDP; an administration and Congress committed to increasing healthcare costs and reducing ernergy efficiency. A fed committed to real negative interest rates "for a prolonged period", and quantitative easing. In the long run, a weak dollar will be part of the answer to our profligate ways. It is just a good thing that the rest of the world has no attractive place to go without the Chinese hurting themselves.
Wall Street Breakfast: Must-Know News [View article]
Who would have believed it just a few short years ago? The government takes over GMAC and uses it to finance the car companies that it jointly owns with the UAW. The government puts billions more into Fannie/Freddie to pay for government-supported liquidation of mortgages which they encouraged. The government plans to determine the compensation structure of the financial industry. And by the end of the summer we will have the Pelosi/Obama plan for managing nationalized healthcare.
The Soviet model of a centrally-controlled economy worked for quite awhile, but eventually collapsed from coruption and indifference. For us, the arrogant belief that the government knows better than individual people and companies is a bigger threat than the huge debts that the Obama administration is racking up.
Wall Street Breakfast: Must-Know News [View article]
Deficits in excess of 10% of GDP; an administration and Congress committed to increasing healthcare costs and reducing ernergy efficiency.
A fed committed to real negative interest rates "for a prolonged period", and quantitative easing.
In the long run, a weak dollar will be part of the answer to our profligate ways. It is just a good thing that the rest of the world has no attractive place to go without the Chinese hurting themselves.
Wall Street Breakfast: Must-Know News [View article]
The Soviet model of a centrally-controlled economy worked for quite awhile, but eventually collapsed from coruption and indifference. For us, the arrogant belief that the government knows better than individual people and companies is a bigger threat than the huge debts that the Obama administration is racking up.
Wall Street Breakfast: Must-Know News [View article]
Wall Street Breakfast: Must-Know News [View article]
1. the UAW which delivered Michigan;
2. the environmentalists who want to force Detroit to develop better cars.
The specific path is TBD - but it will cost you and me a bundle.