Mighty powers like America and Rome grow so big and sprawling that they become impossible to manage.
February 9th, 2010 | David Walker | 5 comments | ContinuedThe Americas
Commentary on American economics, politics and society by your Daily Reckoning editors in Melbourne, Australia. Still haven’t subscribed to the Daily Reckoning? What are you waiting for… sign up here, it’s free!
A chronological listing of articles is below.
Only “Essential” Government Employees Need Report for Duty
We wondered if any of them really were essential. Surely, not the fellows who are watching after the African horned beetle…
February 9th, 2010 | Bill Bonner | 0 comments | Continued
We’re in a Depression, Stocks Gotta Get With the Program
Either the last phase of the bear market has begun. Or it won’t be long before it does. Stocks can go any which way they want in the short run – depending on investors’ delusions.
February 5th, 2010 | Bill Bonner | 0 comments | Continued
The Case for Higher Treasury Yields…and Lower REIT Prices
I’m a bear on Treasury bonds. Prices should go down and yields should go up as the creditworthiness of the US government deteriorates.
February 4th, 2010 | Dan Amoss | 2 comments | Continued
Underwater Homeowners Continue Making Mortgage Payments
But homeowners? They plod along. Maybe they think their house will come back in price. Maybe they think they’ll suffer some awful penalty if they default.
February 4th, 2010 | Bill Bonner | 7 comments | Continued
Obama Plans to Raise Taxes on the Rich and Businesses
Let’s see. We’ll make some guesstimates. There are about 100 million families in the US. Of those, about half are net taxpayers. And the top 10% are said to own half the wealth in the US and already pay 66% of its total taxes. Looks like they’re going to get whacked again. Each of the ‘rich’ families will pay nearly $200,000 more in taxes.
February 4th, 2010 | Bill Bonner | 11 comments | Continued
Obama and the $3.8 Trillion Budget
The amount of the budget itself is staggering. That’s a lot of money. But even more staggering is the glaring omission: the Obama administration is planning to spend $1.6 trillion it doesn’t have.
February 3rd, 2010 | Bill Bonner | 1 comment | Continued
Cleaning Up America’s Fiscal Policy
During the first eight years of their lives, we have learned, the nation’s financial hole grew by 176 percent to $56.4 trillion. And the number is not standing still…
February 2nd, 2010 | David Walker | 0 comments | Continued
Inventory of Unsold Houses Will Probably Continue to Hold Prices Down
At $170,000, reports Floyd Norris in the NYT, the housing market corrected all the way back to 1997, adjusted for inflation. Twelve years’ worth of real pricing gains have been wiped out.
February 2nd, 2010 | Bill Bonner | 0 comments | Continued
If the Economy is Recovering Maybe the Feds Will Reduce their Stimulus
If the economy really is heating up, mightn’t it melt all that money and credit frozen by the depression?
February 2nd, 2010 | Bill Bonner | 0 comments | Continued