“What can’t be stressed enough about what happened in 2008 is that for economies to grow and markets to rise, it’s necessary that the mediocre and lousy constantly be replaced by the good and brilliant. “
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From The Wall Street Journal, Bernanke and the Slow-Growth Crew by Peter Wallison The regulations and restrictions on small banks have most acutely affected small businesses, particularly startups. Though most new employment in the U.S. economy comes from small business,
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from Phil Gramm in The Wall Street Journal, Dodd-Frank’s Nasty Double Whammy: Over the years the Federal Trade Commission and the courts defined what constituted “unfair and deceptive” financial practices. Dodd-Frank added the word “abusive” without defining it. The result:
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Richard Kovacevich writes for Cato, The Financial Crisis: Why The Conventional Wisdom is Wrong PDF file
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Banks do not survive by loaning money to prevent insolvency; they loan money to provide liquidity. Banks are not loaning money, not because of the lack of liquidity but because there is a lack of prudent loans to make. Small
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The CEO of General Motors wants to tax gasoline an additional $1.00 a gallon. Let’s think about that. The higher the price of gasoline the less one drives a car, and the less one drives a car then the less
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Here is an idea for our times. We create a Federal Agency called the Consumer Investment Information Corporation. It is funded by a fee on all banks and institutions needing an independent investment rating. It is governed by nine people;
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My first post of 2010 was The End of the China Decade, but it focused more on the rise of India. The New York Times published Contrarian Investor Sees Economic Crash in China by David Barboza seven days later. The
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