Tuesday
Jul072009
Entries by DailyBail (6219)
Jul 7, 2009 at 2:42 PMMonday
Jul062009
Friday
Jul032009
Friday
Jul032009
Thursday
Jul022009
Thursday
Jul022009
'Dennis Kneale Idiot' Has 14,000 Results On Google (Great Clip)
Click Photo For VideoDennis Kneale Won't Shut Up About Financial Bloggers
Thursday
Jul022009
Thursday
Jul022009
Bill Gross Finally Tells The Truth: The Economy Will Remain Weak For A Generation (CNBC Clip & July PIMCO Investment Letter)
Say hello to the new normal: 1-2% growth for the next 2 decades, and that's once we finally hit bottom. Gross' July PIMCO Investment Letter comes with my highest recommendation, unless of course you prefer to bury your head in the sand and listen to Christina Romer.
Thursday
Jul022009
CEA Chair Christina Romer: We'll Do Whatever It Takes To Help The Economy (Anti-Keynesian Stimulus Rant Included)
In the wake of this morning's disappointing June numbers on job losses and unemployment, the White House sent out CEA Chairwoman Dr. Christina Romer to face the media. In the clip below, Romer is her usual self--an overly-optimistic Pollyanna as she attempts to make the case that the economy will rebound soon, blah, blah, blah.
CNBC's Mark Haines sees through her bullshit and asks about a second stimulus to which Romer replies: "we are committed to doing whatever it takes to help the economy, including a second stimulus..."
Has anyone else had enough of this clueless, Keynesian claptrap. Wake up Washington. Belief in Keynes is belief in utter self-delusion. Keynes to economics is a witch doctor to medicine. It's bogus, P.T. Barnum, boonschwaggle.
Bush tried a stimulus of $150 billion--fail. Obama is trying a stimulus of $800 billion--and it will fail. Small tax cuts and inefficient spending programs (where 10% is lost through corruption, graft and waste) will not help an economy hell-bent on debt de-leveraging after a 2-decade sloth through easy money and credit.
The party is over. Turn in your hats. And stop destroying our children's futures with wasteful giveaways that serve no useful economic purpose. Keynes is and was a failure. We are broke and indebted to the tune of $12 trillion. We are in a deserved period of contraction. Allow the deleveraging to take place, encourage massive cuts by bloated states and municipalities. Adopt the New Zealand mindset (make sure to read this one) that we should use the global downturn to restructure our governments and spending so that we are ready to compete strongly again when the dark days are done. For heaven's sake stop trying to keep the party going with cheap booze and even cheaper hookers.
The economic cycle has an innate beauty--growth and recess...allow it to flourish. Recessions are necessary and unavoidable. Look at nature. When Fall comes, we shed our old leaves, prune back, and prepare for Winter and eventually a new Spring where growth flourishes again. The Bush-Obama administration seems hell-bent on making sure our tree stays (soylent) green through an ice age. It won't work and it's not smart.
Please Help by emailing our stories to a few friends. No less than your children's future is at stake. Oh and the fate of the greatest Democracy in the history of the world also hangs in the balance as we teeter toward bankruptcy. But honestly, don't worry about it. Go about your day. And don't forget to DVR American Idol. You really don't want to miss that.
Wednesday
Jul012009
Wednesday
Jul012009
Peter Schiff to Dennis Kneale: "The Good News Is That Your Record Of Inaccurate Forecasting Looks To Be Safe" (Clip)
Click Photo to See Video
Wednesday
Jul012009
The WSJ Adds It All Up: Bailout Tracker For TIP, TALF, PPIP & TARP
I've been meaning to get this posted. The WSJ has created a highly detailed interactive table that tracks the bailouts and totals of TARP, TIP, PPIP and TALF, sortable by several criteria. It is an impressive accomplishment and should be considered along with bailout totals and tables supplied recently by the FDIC and CNN.
Please Help by emailing our stories to a few friends. No less than your children's future is at stake. Oh and the fate of the greatest Republic in the history of the world also hangs in the balance. But really, it's not a big deal. Go about your day.