But remember, the central bankers telling us that America’s recovery is “nascent” and that Australia will benefit for many years from a “very big” investment boom in the resources industry are the same blokes who did not give you a single warning about what was coming in 2007 and 2008. Why is that?
February 25th, 2010 | Dan Denning | 18 comments | ContinuedAll Posts Tagged With: "congress"
Paul Ryan and His Roadmap for America’s Future
Meanwhile, here comes more good news: the US federal government may not go broke after all. Rep. Paul Ryan, who hails from the sovereign state of Wisconsin, has come up with a solution.
February 17th, 2010 | Bill Bonner | 13 comments | Continued
Feds are Getting Plenty of Taxpayer Support
Not only are the feds taking up a bigger percentage of GDP, they’re also becoming bossier. During the Bush years the federal register recorded 7,000 more pages of new rules.
February 16th, 2010 | Bill Bonner | 1 comment | Continued
The US Federal Budget
In putting together the budget, the president and Congress set our national priorities and allocate resources among them. The results have been pretty consistent.
January 28th, 2010 | David Walker | 0 comments | Continued
Geithner to Explain to Congress How US Bailed Out AIG
Of course, the Secretary of the Treasury will have answers. He’s been rehearsing them for weeks. He’ll explain that the integrity of the system was at stake…etc…etc… Blah…blah.
January 28th, 2010 | Bill Bonner | 0 comments | Continued
U.S. Home Sales Up Because of Congress Tax Credit
In November, first home buyers taking advantage of the tax credit made up 50% of demand for existing homes. In December, it fell to 43%. Those two months were supposed to be the final months of the credit. The December decline shows that most people who intended to take advantage of the credit had already locked it in.
January 27th, 2010 | Dan Denning | 0 comments | Continued
Bankers Admit Faults in Congress
“The bankers – whose companies collectively received more than $100 billion in taxpayer assistance to weather the crisis – offered no regrets for executive pay that is now likely to increase…
January 18th, 2010 | Bill Bonner | 2 comments | Continued
Fed Made More Money than Goldman Sachs
How did it make so much money? The papers report that it cleverly bought up debt that no one wanted…Wall Street’s mistakes.
January 14th, 2010 | Bill Bonner | 0 comments | Continued
Mainstream Economists Congratulate Themselves
There must be some dark corner of Hell warming up for modern, mainstream economists. They helped bring on the worst bubble ever…with their theories of efficient markets and modern portfolio management.
January 11th, 2010 | Bill Bonner | 0 comments | Continued
Power Begets Gold, then Gold Begets Power
As near as we can tell, gold is fairly priced. It will buy about as much as it would have bought 500 years ago…or 2,000 years ago, for that matter.
December 23rd, 2009 | Bill Bonner | 1 comment | Continued
The Economy is Like a Complex Ecosystem
You cannot alter one piece of it without causing effects elsewhere in the system. Investors who understand this reality can also understand (and avoid) the hazards of over-confident investing.
December 15th, 2009 | Chris Mayer | 1 comment | Continued
Congress Slams Ben Bernanke and Fed Reserve
Because the mainstream press wouldn’t want people thinking bad things about the Fed Reserve. They are here to save us. They are the cavalry riding over the hilltops to our rescue.
The myth of the purity of the Federal Reserve’s motives is jealously guarded by the mainstream press. Any dissenting voices are quickly dismissed as cranks and extremists.
December 8th, 2009 | Murray Dawes | 16 comments | Continued
Homebuilding Goes Down While Economy Gathers Strength
Meanwhile, the news two days ago was that homebuilding took a dive in October. Work began on 11% fewer houses than the month before.
November 20th, 2009 | Bill Bonner | 1 comment | Continued
U.S. Treasury Auctioning Off $81 Billion in New Debt
You have to wonder who is willing to loan money to the United States government – given the state of its fiscal and monetary policies – for thirty years at below 5%.
November 9th, 2009 | Dan Denning | 0 comments | Continued
Banks Could Face Larger Asset Writedowns and Losses than IMF has Modelled
Next time around, though, we reckon the losses – when they come – will be on domestic real estate assets. And with so much exposure to domestic real estate (mortgage loans), the assets could face a world of hurt. But even if bank asset quality doesn’t crash (housing prices don’t crash), an external shock affects Aussie bank liabilities.
October 28th, 2009 | Dan Denning | 2 comments | Continued
