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Money & The Economy

News on Finance, Money, markets and the economy

The Economy is Not Getting Better.. Yet

Much of the media has been declaring an end to the recession.  I have been on the sidelines for months now and a few talking heads were not going to get me to throw my assets at a loser market. I have done my best not to sound like Chicken Little, but there was absolutely no way I could in ...

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GAO:TARP Has Done Two Things, “Jack and Squat”

In the Government Accounting Office’s October “Report to Congressional Committees” on TARP, it is apparent that TARP’s success.. isn’t that apparent. The report recommends filling important positions with permanent staff instead of the consultants currently manning them, but what really stands out is when the GAO attempts to quantify the success of the program.  The report states that, “isolating and ...

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Mortgage Bubble Started Crisis, Isn’t Getting Better

Last year the economy crashed. Now, the stimulus has stimulated, the Federal Reserve has eased, Geihtner has.. well done whatever he does, and Obama has spoken (certainly that should have fixed everything). So how did we hit 9.8% unemployment since the stimulus was an emergency action that would keep unemployment from going over 8%, pumping massive amounts of liquidity into the economy should have loosened credit, little Timmy G. and Obama bought GM, AIG and Chrysler and they helped everyone buy a new car that wanted one? It must be that G.W. Bush must still be affecting the economy from his ranch in Texas...

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Why Dow 10,000 May Not Matter

The last week has produced a euphoria in the market-place. The DOW has crossed (and again fallen below) this psychological barrier in the stock market. Many point at the crossing as a sign that the market is recovering. The DOW industrial index has gone from under 7,000 to 10,000 in the past several months and is certainly feeding on it’s ...

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Are You Running Your 401k? Are You Sure?

The Wall Street Journal published an article by Eleanor Laise that highlights an increasing practice by employers.  Taking more-and-more control of employee’s retirement accounts. “The greater employer control is a philosophical shift in 401(k)s and other defined-contribution plans, which held $3.5 trillion at the end of last year. The new, more-paternalistic approach, with employers making most of the decisions, resembles ...

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Deficit Neutral is Good?

So Obama won't sign any bill that isn't "deficit-neutral". Max Baucus leads the charge to create a health care bill that fits that description. Unfortunately, that is not the same as fiscally-responsible.

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‘Going Galt’ Without Realizing

In March of this year, there was a firestorm of libertarians and ultra-conservatives taking up the call of John Galt from Ayn Rand’s Atlas Shrugged.  Galt is a bright inventor/engineer that decides to quit furnishing his skills to the economy when his company goes Marxist. Several on the right are considering a Galt-like removal from the economy to starve the ...

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Ford Succeeds Where Government Motors Fails

In a set of reports today, it became apparent that GM and Chrysler were not keeping up with Ford… at all. Both Chrysler and GM borrowed billions from tax payers thanks to the current administration. We were even told that a great return on our investment would be forthcoming. Not so. Instead, the companies that have received taxpayer dollars are ...

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Unemployment Suffers Under Big Government: Reagan Had The Answer

The chief of the Atlanta Federal Reserve said on Wednesday that the unemployment rate is actually 16%, “If one considers the people who would like a job but have stopped looking…”. Discouraged workers are one of the dirty little secrets of the Bureau of Labor Statistics (BLS). It’s a secret the Obama administration is happy to let continue on. It ...

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Is the Dollar Drawing Its Last Breath?

Perhaps a little alarmist, it’s probably a hoax video, but some underlying themes rate contemplation [Story Link].  The SDR as a replacement for the dollar, the huge increase in SDR reserves (1000%) [IMF Link].  I think that link is saying that the SDR will go from 21.4 to 204.1 billion between August 28th and September 9th of this year.  It ...

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Transparency Needed Into the Federal Reserve

I realize that I would have to wait in a fairly long line to call Ron Paul a paranoid, old-thinking, isolationist psycho, and I’d gladly take the wait just to have the opportunity.  But, Paul has been pushing for a congressional audit of the Federal Reserve for more than two decades and he might just get it now. Republicans, Libertarians, ...

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A good, short read on the truths about capitalism

There has been much capitalism-bashing going on in the media.  Clearly the anti-caps have no idea what they are against and even less of an idea of what they are for.  I don’t have a lot to add to this well-thought, well-written paper by Dr. Ronald Nash.  I just know  I’ll be looking for even more of his writings.  I ...

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