Archive for the ‘HIstory’ category

The New Depression? Depressing stagnation at best

July 5, 2010

The Brits think so, calling 2010 a lot like 1932.  Voices of reason generally are calling for austerity measures to avoid a Greek debt spiral, while others (not counting the crackpot Krugman) insist that any belt-tightening must be accompanied by “ultra-loose” monetary policy.  I am not an economist.  And to point out now that monetary policy has been too loose for years (it has been) is not constructive.  We’re in the mess now.  We’ve had 70 some odd years to analyze, dissect and learn from the Depression–and no one has a clue.  I’m hearing from some quarters that we are at a stand or fall watershed moment in America, where failure means civil war.  Elsewhere we read of the end of the road for our financial system, spelling the end of our country as we know it.  But there are Pollyannas still out there.

I don’t have the answer.  But I do have a prediction:  our economy and markets are set for long term stagnation if our government continues on its current decision making course.  Things simply will not recover as we, especially those of us who entered the job market in the 1990s, think of recovery.  There are too many weights pinning us down, and there are more governmental tent pegs headed our way.  And this is best case.  Add in an exogenous event, most likely a bad one (e.g., terrorist attack on U.S. soil, Middle East conflagration, nuclear attack, etc.), and worst case scenario could be really really bad.

God knows we need strong wise leaders to rise up.  These are troubled times indeed.


Clinton: Byrd was “good people” and he really felt bad about the lynchin’s

July 2, 2010

Yes, he was a member of the Ku Klux Klan, but he was good people, and he was just trying to get elected, which I guess if you belong to Bill’s party makes it all okay.

Ah, were he (and our President) always so forgiving.

Happy 4th of July! Appreciating liberty…

July 2, 2010

And remembering those who fought so we could be free.

Are you for or against the annihilation of the Jews?

July 2, 2010

David Horowitz fleshes out a genocidal Jew-hater on the University of California campus.  Unbelievable.

Thanks to Robert Avrech and for this.

The S&P and Labor market. A depressing read on the state of things.

July 2, 2010

The S&P pulled off its worst performance since 2002, and the labor market is on the brink.

Happy 4th of July!

Austerity, Margaret Thatcher and War

July 2, 2010

A fascinating piece by Zero Hedge and Dylan Grice (SocGen) on what it took (war) for the British public to relax, embrace austerity and learn to love Maggie.