with 5% of the 800+B going towards actual infrastructure, the truth is revealed about promises made. The ones that matter are the long standing ones made to supporters early in the process, years ago, behind closed doors. Private promises made by public faces. If you wanted a real stimulous for the economy you would remember […]
Tag: recovery
Almost 1T in state pension shortfalls
Observed earlier that 5 large states were requesting 1T from Obama for combined medicare and pension shortfalls; Its now up to almost 1T just for the state employee pension funds alone, to say nothing of the medicare costs of an aging population determined to give voice to its feelings of entitlements. I can almost hear […]
Borrow more to get out of debt: all it lacks is an 800 number and an infomercial
In a sequence of CSPAN broadcasts, Washington insiders expressed their shock—Shock! at the state of the budget disaster in Congress. Senator Conrad, has suddenly discovered just how deep the debt hole that Congressional spending, aided and abetted by an unprincipled administration, has put our children in. Because its our children thathave inherited the mess these […]
US government debt and the first rule of holes
when you realize you are in one, stop digging
Historical responses to financial meltdowns (buckle up, it will be a bumpy ride)
Reinhart and Rogoff (2008b), in a recent paper entitled “The Aftermath of Financial Crises.”, demonstrate that banking crises in rich countries and emerging markets have a surprising amount in common. “… Broadly speaking, financial crises are protracted affairs. More often than not, the aftermath of severe financial crises share three characteristics. First, asset market collapses are deep […]
Profitable ETF trading strategies: leadership out of the abyss
Jimmy Rogers, trader extraordinaire, agrees with us at Tortoise Capital that it is outrageous that the bailout is designed to try to avert taking our medicine. You must hit bottom, and start over, in the same way that the market has worked for thousands of years. Bailing out 29 year old brokers that are unsound only perpetuates […]
The journey to wellness: asking for help is the first step
Most people who seek help dealing with emotional problems find relief, recovery, and healing. They don’t forget what they’ve been through, but they learn ways to make sense of their experience so that it doesn’t control their lives. More is known now than ever before about how to help people deal with the complicated feelings […]