Economic Insecurity
It’s The Leverage, Stupid
As Rome burns we don’t just have one Nero with a violin, we’ve got several thousand of them - each scraping out the same old partisan fight songs we’ve heard a thousand times. There is plenty of blame to go around. There is no doubt about that. But while the details of derivatives and credit default swaps are complex, the underlying cause of the problem is all too simple: leverage.
October 10, 2008 | Read More
Any Old Fool Could Have Predicted This - Including This One
John Edwards’s old California campaign manager called me recently and said he’d found a letter I’d written Edwards way back in mid-2007. He said I should publish it, because it pretty much predicted the mess we’re in now. I dug up the letter. Here’s a (shortened) version of it:
October 7, 2008 | Read More
Reason #41: The Declaration of Corporate Independence
The Declaration of Independence states every American has the right to life, liberty and the pursuit of happiness. Our economy is supposed to help us achieve these goals. Ideally, it creates good paying, rewarding careers for us; it allows us to trade with each other and our neighbors; and gives us opportunities to invest in real estate and businesses. All of these should improve our lives, ensure our liberty, and allow us to pursue happiness.
The problem is, our political leaders have forgotten the Declaration of Independence and the rights it grants to every American. Instead, they seem to follow a different…
August 27, 2008 | Read More
