Housing Bubble
Sifting Through The Ashes Of The Crash
A new book digs up painful lessons from recent economic collapses.
December 29, 2008 | Read More
Bonus Bloodbath On Wall Street
Wall Street’s cult of the bonus helped sink our entire economy. And it’s still going strong.
December 18, 2008 | Read More
The Snidely Whiplash of Economics
Everyone knows the cliche of the dastardly villain tying a damsel to the railroad tracks, then twirling his mustache and laughing as the locomotive approaches. And everyone knows that, in real life, villains just aren’t so obvious. Except, that is, for former Senator Phil Gramm.
November 17, 2008 | Read More
A Time Capsule Of Economic Stupidity
Take a look at this amazing video compilation of Peter Schiff way back in 2006 and 2007 playing John the Baptist about the coming economic crisis. And watch how all the business pundits put his head on a platter for it.
November 14, 2008 | Read More
Bubble-omics Reborn?
Yesterday, the Dow exploded for its sixth biggest percentage gain ever. Happy times are here again, right? Wrong. The Consumer Confidence Index plunged in October from an already dour, “put your money under your mattress and leave it there until the storm blows over” 61.4 in September to “bury your cash in coffee tins and start siphoning your neighbor’s gas” 38 (38!) in October.
October 29, 2008 | Read More
Cue The Tar And Feathers
Alan Greenspan testified on Capitol Hill this morning. If you’re looking for one person to blame for the mess we’re in, Greenspan could and probably should be him.
October 23, 2008 | Read More
A Goldbrick Education
We’re in the middle of a horrendous downturn, which was caused by oceans of debt in the marketplace. And what do we do? We force the next generation to take on tens, even hundreds of thousands of dollars in new debt before they even start their careers. That’s a smart plan!
October 17, 2008 | Read More
One Last Orgy Of Profits
The same bunch of bunko artists who brought us the current financial meltdown had a major hand in making a tank of gas cost as much as dinner out at La Folie.Playing Chicken Little about the Far East and increased demand was a convenient self-fulfilling prophecy for them. They and their puppets in the media kept shouting about prices going up and up and, lo and behold, prices did go up. A lot. Now they’re crashing. Coincidence?
October 8, 2008 | Read More
Home Inequity
As the Feds were staging their political sideshow last week, a handful of state attorney generals were hammering out the last details of a settlement agreement that makes at least one of culprits for our current housing bust pay the piper.
October 6, 2008 | Read More
Paulson Caused the Crisis
The net capital rule was there to make sure Wall Street could bail itself out in case of a crisis. But because the SEC gave geniuses like Henry Paulson what they wanted and eliminated the rule in 2004, we the taxpayers now have to pay the tab for their recklessness. This is the man that now wants a $700 billion blank check - to fix the crisis that he caused!?
October 3, 2008 | Read More
