From the category archives:

Economy

Quality of New Jobs is Poor

March 9, 2011

Interesting article about the quality of the new jobs being created: Several recent studies suggest that the new jobs pay less and offer fewer work hours than the ones they have replaced. Let’s look at the numbers: • Lower-wage industries — things like retail and food preparation — accounted for 23 percent of the jobs [...]

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Hayek’s Ten Rules for a Recession

February 21, 2011

If you have read my blog for any length of time, you have probably read the words “Austrian Economics” at some point. I certainly believe our nation would be better served following those principles than the current Keynesian theory. I doubt it will ever happen as the Austrian theory lets markets operate naturally so it [...]

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Kyle Bass Latest Missive

February 18, 2011

Here is the latest investor newsletter from hedge fund manager Kyle Bass (h/t Zero Hedge). I have referenced Bass in previous posts as he really puts the big picture in perspective. Like me, Bass believes the systemic risk still remains in the economy. Everyone acknowledges that the last crisis was caused by excessive leverage and [...]

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The Bill Is Coming Due for Bank Bailout

February 7, 2011

Most Americans are rightfully upset at the TARP/bank bailout from 2008. No one, outside the government, Fed or the banking industry, can really justify giving our money to multi-millionaire bankers. Of course, the government is trying to justify TARP claiming the US taxpayer has received this amount back plus interest. I have always argued that [...]

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America Fails to Grasp the Bigger Picture on Jobs, Standard of Living

January 31, 2011

I have been absent from my blogging for some time. I apologize. I have lots of reasons: busy, kids sick, I was sick, weather (sick of shoveling), but I have no excuses. Saw this article today discussing how so many of the jobs created since the recession of 2008 have been lower paying, temporary jobs. [...]

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The Irish Discover the Pain of Bailing Out Banks

December 5, 2010

Like many countries back in 2008, Ireland bought into the banker’s argument that the world would descend into a world more dangerous than a newscast without the teleprompter if the banks were allowed to fail (my favorite Will Ferrell SNL skit of all time). So, the Irish government backed the country’s largest banks. Now, Ireland [...]

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The Real Story of Thanksgiving

November 25, 2010

I hope that everyone has a wonderful Thanksgiving. Despite turbulent financial times, we do have a lot to be thankful for as a nation. I wanted to share a story about the real reason the Pilgrims needed help from the Wampanoag Indian Tribe. In school, we hear about how horrible winters and difficult farming terrain [...]

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Roubini Has It Wrong

November 22, 2010

In a recent article, Nouriel Roubini, known as Dr. Doom in many economic circles for accurately calling the housing/banking crisis, argued against a gold standard for our currency. His arguments claim that the business cycle will be more violent (and frequent) and that the Fed would be unable to adequately fight inflation or deflation. Personally, [...]

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Did the Government Save GM?

November 18, 2010

Today, President Obama declared that General Motors Initial Public Offering is proof positive that the bailouts worked. Nothing could be further from the truth. The $50 Billion that the government loaned GM did not save GM. It was the bankruptcy that helped GM. If GM had not gone through the bankruptcy process, the $50 Billion [...]

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Grantham Talks Stock Market

November 18, 2010

Great interview by Jeremy Grantham, the lead manager of GMO Asset Management. Jeremy is one of the most astute market historians who has made several succinct calls including the recession and 2009 rally. This is a long interview, but it is well worth listening to. Below the video I have attached GMO’s 7 year forecast [...]

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