Debt Crisis

Why My Pessimism is Growing

I hate to say this, but I am probably going to be a lot more pessimistic about our economic prospects moving forward. Confidence is collapsing  as nearly half of Americans think we are headed for another Depression. Our leaders are showing they are true morons who can’t come to an intelligent solution to this debt crisis. Gold is rising and those who screamed for years that gold was a crowded…

More Stimulus Ahead

Today we learned more stimulus is probably on the way with Bernanke’s comments in his semiannual monetary policy report that: “The possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks might re-emerge, implying a need for additional policy support.” In all honesty, this one wasn’t too hard to figure out- what other option does the government have? I’m actually surprised people believed the…

Gold Hits Record Highs

It’s amusing to me that we live in such times of deception where people try to deny blatant truths. It’s just amazing that the government can claim our economy is out of recession when unemployment has risen this year from 8.8% to 9.2% and housing has double dipped. Coming out of recessions, we are supposed to be experiencing explosive growth;  not average growth, not below-average growth, but explosive growth. If…

Understanding Unintended Consequences

As you get older and start thinking more, you realize there are more layers to even seemingly straightforward problems. When you are young, solutions are simple: If drugs are bad, we should make them illegal and put people in jail for using them. Or if we need to raise revenue, we should raise taxes on everyone, especially the rich. Perhaps this is the logic behind the saying, “If you are young…

More Confirmation of Economic Weakness

We received more sobering economic news today with the weaker than expected  jobs report. The unemployment rate of 9.2% is the highest of the year, which is news to me since our economy “officially” came out of recession 2 years ago. Employment in government fell for the 8th straight month, which is all part of the inevitable collapse of the public sector. This is bad news for our economy since…