Archive for February 8th, 2009

Quote Of The Day

I find myself quite put off by the overtures to fear being orchestrated by President Obama and his lieutenants. Personally, it seems no way to properly deal with the current crisis we face. So perhaps the new administration consider the words of one of their iconic leaders. “So let me assert my firm belief that the only […]

Protectionism Is Far From Dead

Via Greg Mankiw’s blog, here is a link to the roll call vote to ban the “Buy American” provision of the stimulus bill from applying to the expenditure of stimulus funds. And below is the list of Senators who essentially voted against the “Buy American” provision (note that the amendment called for the provision not […]

Ambrose Evans-Pritchard-Back To A Bearish View

After a walk on the optimistic side last week (see my post here), Ambrose Evans-Pritchard is back on the bear train. Here are some of the facts he cites in making his case for a steady slide of the world into economic catastrophe. Japan-Exports fell 35% in December. Industrial output fell 9%. The economy is contracting at […]

No News Is Good News?

Lawrence Summers in an interview on Fox News Sunday said that the bank bailout plan won’t be announced until Tuesday. It had been scheduled for a roll out on Monday. “There’s a desire to keep the focus on the stimulus” on Monday, so Treasury Secretary Timothy Geithner will release the plans for how to spend […]

Like Being Dumped In The Atlantic Without A Life Raft: A Congressman’s Candid View Of The Banking Crisis

Representative Paul Kanjorski of Pennsylvania recalls some heretofore unreported facts about the banking crisis. Basically, he tells of an electronic run on money market funds that occurred at the height of the crisis. Watch all of it – only about four minutes – to also hear some refreshing candor about how blind Congress and the […]

Quote Of The Day

In economics the majority is always wrong.                                           J. K. Galbraith