There’s still a lot of outrage being expressed about the sinister activity that occurred in the housing sector, causing a housing bubble that eventually popped, and leading to massive taxpayer-assisted bailouts, a worldwide debt crisis, recession, and a massive decline in individual wealth. So, it’s understandable how this outrage against the people considered to have [...]
Category Archives: Commentary
Arizona’s Economy
According to excerpts from Marshall Faulk, Forecasting Project Director’s, most recent edition of Arizona’s Economy – The Healing Process Has Begun. Arizona is lagging behind other parts of the country, but conditions are looking much better here too. Consumer spending is increasing as evidenced by retail sales figures. Nonfarm employment has stopped falling as hiring [...]
Trust, But Verify They Say
On May 27, 2010, the United States Attorney General’s Office announced the arrest of Kenneth [I.] Starr (pdf), a financial adviser to the stars, allegedly for conducting a purported Ponzi scheme with his clients’ money. According to an excerpt from a New York Times article about Kenneth Starr’s arrest – “But when they arrested him [...]
Gambling With Other People’s Money
Remember that entertaining economics video, Fear the Boom and Bust, that I posted on Guzzo the Contrarian in January? The same economist who created that video, Russ Roberts, a professor of economics at George Mason University, the J. Fish and Lillian F. Smith Distinguished Scholar at the Mercatus Center, and a research fellow at Stanford [...]
Dr. Doom
Perhaps I should have listened closer to professor Nouriel Roubini when he was cautioning us about a looming foreign debt crisis. According a recent Financial Times article excerpt: He has continued to issue warnings since the crash. In early 2009, he argued that the banking crisis might not be finished. He also suggested that there [...]
What Happened To Laissez-Faire?
Just reminiscing back to 2008 and before the recessionary bailouts, when Greenspan and his cronies adamantly supported Laissez-faire economics. That is, until the shit hits the fan and it becomes everyone else’s problem. Source: editorial cartoon via David Horsey, Seattle Post-Intelligencer.