Millions of people, for example, earned their money in ‘housing.’ They were putting up houses in the sand states…or building granite countertops…or selling, flipping, financing the houses.
October 7th, 2009 | Bill Bonner | 7 comments | ContinuedAll Posts Tagged With: "economists"
US Economy Still on Runway as Recovery Won’t Fly
A majority of those polled by Bloomberg think things are great; 61% said they thought they economy had taken off and was flying high. Stocks are up. Commodities are up…
September 10th, 2009 | Bill Bonner | 3 comments | Continued
Why Do Men and Women Want Money and Power?
At least as practiced by the leading macroeconomists of our time – such as Ben Bernanke, Tim Geithner and Larry Summers. It’s just a show-off sport…the idea is to impress the world with some fancy data-heavy formula…win the Nobel Prize and save the world.
September 9th, 2009 | Bill Bonner | 0 comments | Continued
The Banks Should Hold More Capital
The US system of capitalism has become a system where the capitalists have no capital. The big banks have too little in savings…not enough ‘buffers’ to protect them from unexpected crises. They made a fortune during the boom years…
September 7th, 2009 | Bill Bonner | 0 comments | Continued
Ben Bernanke Averts a Second Great Depression
According to the popular version, Ben Bernanke, our flawed hero, has averted a Second Great Depression. When the crisis came in ‘07-’08, he calmly took out the text he had written himself: “Dummies’ Guide to Avoiding a Japan-style Deflation”…or something like that.
August 31st, 2009 | Bill Bonner | 1 comment | Continued
Roubini Says United States Will Climb Out of Recession Towards End of Year
Maybe he will be right. Maybe this downturn will resemble Japan’s multiple recessions over the last two decades. Or maybe it will be a single, deeper and longer lasting slump – like the one in the early ’30s. We don’t know. Either way, it should be thought of as a depression…
August 19th, 2009 | Bill Bonner | 0 comments | Continued
Take Away Stimulus Spending and You’ve Got an Economy Entering Depression
Yes, now the economy is firing on all cylinders…or just about. Yep. No doubt about it. Still, there are some nagging doubts. The latest figures show foreclosures still increasing – up 7% in July from a year before. And house prices are still going down.
August 14th, 2009 | Bill Bonner | 0 comments | Continued
Why Weren’t Economists On Top of This Thing?
Even Alan Greenspan admitted he had “found a flaw” in his own thinking. We will have to imagine the giggles from the back of the room – if anyone had been awake. It was as if Stalin had confessed to being rude to his mother…
August 10th, 2009 | Bill Bonner | 4 comments | Continued
Is Today’s Market More Volatile Than Past Markets?
“Consensus is beginning to emerge among economists and market analysts that the recovery in the Australian share market will be sustained, and some brokers are encouraging their clients to start buying now,” reports an article in today’s Age. As the Mogambo says, “HAHAHAHAHAHAHAHA!”
July 22nd, 2009 | Dan Denning | 25 comments | Continued
Robert McNamara Described as the “Architect” of Vietnam War
“War Criminal says Sorry, Sobs,” was the headline in the Nation on February 9th, 2004. Robert McNamara had just done something extraordinary for Secretaries of War: with tear in his eyes, he apologized for his role in the Vietnam War.
July 13th, 2009 | Bill Bonner | 0 comments | Continued