Category Archives: Uncategorized

This is the week to see if the FASB gives the financial sector the shot in the arm needed to tack on another 20% of gains in an eye blink. From today’s Bloomberg: Four days after U.S. lawmakers berated Financial Accounting Standards Board Chairman Robert Herz and threatened to take rulemaking out of his hands, […]

What a week. On Tuesday, when Treasury Secretary Tim Geithner was asked by a lawmaker if he would “categorically renounce the United States moving away from the dollar and going to a global currency as suggested by China,” he immediately responded, “I would.” Then, one day later, Mr. Geithner spoke to the Council on Foreign […]

We may be witnessing the beginning of the end of U.S. economic dominance, and addressing how we got here will be the subject of many long articles and several books. For now, let’s just call it a travesty, an absolute head-shaking, goddamned shame that should see people rioting in the streets but instead finds them […]

From former Treasury Secretary Paul O’Neill’s interview with Frontline: [The national debt] is going up every day. … Here’s the fundamental problem: How much money can a society borrow before it begins to have negative effects on our ability to borrow any more? … When you get to the point that people won’t loan you […]

From John Hussman at Hussman Funds: Make no mistake — we are selling off our future and the future of our children to prevent the bondholders of U.S. financial corporations from taking losses. We are using public funds to protect the bondholders of some of the most mismanaged companies in the history of capitalism, instead […]