Both patricians and plebes are for bailouts. Both business and labor back stimulus programs. The taxpayers and the politicians who rule them are of one mind. Liberal, conservative, rich, poor, Republican, Democrat all speak with a single voice: ‘Screw the next generation!” The golden age is over, in other words. In the space of 40 years it passed from gold, to silver, to paper…and is now somewhere between plastic and navel lint…
January 19th, 2009 | Bill Bonner | 3 comments | ContinuedAll Posts Tagged With: "spending"
Replace Private Spending with Public Spending
The world’s markets have begun a major correction. The world’s governments – led by the United States – are determined to stop it. They want people to spend like there was no tomorrow. But people are acting like every day is tomorrow. Instead of spending, they are beginning to save…
January 9th, 2009 | Bill Bonner | 7 comments | Continued
The Precious Metals Gang Gathers
The stock market has almost become a sideshow to the story playing out in the bond and precious metals markets. But that’s okay. The stock market is so divorced from reality at the moment that we believe it is failing to tell us anything really useful about what’s ahead in 2009. So what’s ahead in 2009? Let us turn to the world’s reserve currency and the last great bubble of the Bubble Epoch for answers…
January 7th, 2009 | Dan Denning | 4 comments | Continued
Curing the Problem of Over-Consumption by Spending
Where do they get these ideas? What makes anyone think you can solve the problem of excess debt by lending people more money? Who is dumb enough to think that you can cure the problem caused by too much spending…by spending more?
December 4th, 2008 | Bill Bonner | 3 comments | Continued
Hell, Meet Handbasket, Part II
When capital is allocated in a free market, it moves toward the productive, and the economy tends to prosper. By the same token, when it is misallocated, an economy can hit the skids. We’ve had decades of misallocated capital in the U.S. Instead of saving, we’ve been spending… way beyond our means.
November 14th, 2008 | Doug Hornig | 0 comments | Continued
The Economy’s Gone Into Rehab
World markets had been recovering from October’s drubbing. The Morgan Stanley index, which measures capital market performance around the globe, had risen 20% from last month’s lows. But yesterday, stocks got a drubbing again… with a big drop for the Dow… minus 486 points.
November 7th, 2008 | Bill Bonner | 0 comments | Continued