Mr. Bernanke defended himself and the Fed against suggestions that he was too eager to aid large financial institutions last fall and winter, while sacrificing the interests of small businesses and everyday American citizens.
July 31st, 2009 | Byron King | 13 comments | ContinuedAll Posts Tagged With: "capitalism"
The Profits Depression
And after we consider the impact of the credit boom on S&P 500 earnings we’d say that corporate earnings are never going to be the same again. They may revert to the mean. But it will not be nearly as high as it was at the highs of the credit boom. It’s undeniable that the expansion of the credit bubble and the advent of securitisation and derivatives led to…
July 28th, 2009 | Dan Denning | 13 comments | Continued
Two Ways to Deleverage an Economy
Betting against deleveraging is probably not a smart thing to do. Not until it’s over…which is not until the leverage built up in the bubble era has been removed. And with total debt levels at 370% of GDP…and the government adding even more debt…we’re a long way from there.
June 10th, 2009 | Bill Bonner | 1 comment | Continued
Deal With Bondholders Cleared the Way for GM Bankruptcy
Too bad about GM. It was set up in 1916. If it had been able to hold together for another 7 years, it would have gone 100 years without having to declare bankruptcy.
All people die. All companies die, too. That’s why ‘buy and hold’ is wishful thinking. Buy and hold long enough and you are sure to go broke. And die.
Obama Has Business Plan for the Car Industry
Now, they seem to have come to believe something else: that the president of the United States – an elected politician – should have a direct say in how individual private enterprises are organized and run.
May 27th, 2009 | Bill Bonner | 0 comments | Continued
Capitalism Always Takes an Economy Where it Ought to Be
Whoever was responsible for the mistakes, capitalism went about correcting them with its customary élan. It hit imprudent investors with trillions in losses. It knocked down mismanaged corporations. It whacked homeowners…
May 12th, 2009 | Bill Bonner | 1 comment | Continued
The War On Capitalism Continues
Will the government’s War on Capitalism turn out better than their War on Terrorism? Or their War on Drugs? Or their War on Poverty?
May 8th, 2009 | Bill Bonner | 1 comment | Continued
The Fed and Congress Did Almost Nothing
But it was a different world back then. To make a long story short, the great boom was just beginning…the Empire was still rising…its currency was still backed by gold…and its books – both federal government registers and national trade accounts – were in balance.
May 1st, 2009 | Bill Bonner | 0 comments | Continued
Depression: A Natural and Recurring Feature of Capitalism
Then, the capitalists lost their money. Big deal. That’s the way it’s supposed to work. Capitalism is inherently dynamic and unstable…full of sturm and drang, boom and bust, creativity and destruction. It’s always prone to blow itself up just when people count on it most.
April 6th, 2009 | Bill Bonner | 2 comments | Continued
Gordon Brown Pronounces New World Order
“Nothing very important, but the media makes a big thing of it. They kept talking about that G20 meeting – as if they were going to change the whole world – New World Order and all that…but what could they change? These hotshots at the banks took some bad bets. Now they’ve got to pay for them. What’s all the fuss about?”
April 6th, 2009 | Bill Bonner | 1 comment | Continued