Deregulation did Not Cause the Credit Crisis
Peter Wallison destroys the myth that deregulation caused this mess (via Bloomberg): Sept. 30 (Bloomberg) — In the debate on Sept. 26, Democratic presidential nominee Barack Obama argued that the current crisis in the financial markets is the result of Republican deregulation. The advertising from his campaign has been saying the same thing, and this .. read more
Conference Board Consumer Confidence
U.S. consumer confidence unexpectedly rose in September for the third straight month, even as consumers’ assessment of the current economy plunged to the lowest level in 15 years, the Conference Board reported today. The consumer confidence index rose to 59.8 from 58.5 in the month of August. Economists were expecting a reading of 58.5. Consumer confidence .. read more
An Austrian View
Frank Shostak, Chief Economist at MF Global, has an article at Mises.org that gives the Austrian view of the current mess and the proposed bailout: It is true that the financial system must be rescued; it must be rescued from the institutions holding bad debt that are currently draining capital while waiting for a bailout .. read more
Trust Capitalism
The US government is executing a coup d’etat of capitalism and I fear that we will pay the price for many years to come. Hank Paulson, Ben Bernanke and a host of others tell us the credit market is not working and the only way to get it working again is for the government to .. read more
The Throw-Everything-Against-the-Wall-and-See-What-Sticks Bill
We are starting to get some details about the Mother of All Bailouts. Some of it is good, some not so good. Financial Institutions covered are banks, savings associations (S&Ls?), credit union, security broker/dealers and insurance companies organized or regulated in the US. That means it will include any subisdiaries of foreign banks that are under .. read more
Trust Capitalism
The US government is executing a coup d’etat of capitalism and I fear that we will pay the price for many years to come. Hank Paulson, Ben Bernanke and a host of others tell us the credit market is not working and the only way to get it working again is for the government to .. read more
This “Crisis” is Government Induced
In a post yesterday, I wondered why we needed a $700 billion bailout when investors are obviously willing to invest in sound financial institutions. I have also said that this crisis is a result of government meddling in the market. The current phase of the crisis is also a result of government intervention. There has been .. read more
Gold Standard
Logan Flatt has posted a letter he sent to his congressman: Congressman Sessions: Thank you for your email. The Republican proposal is a step in the right direction – 180 degrees away from the $700 billion taxpayer funded bailout of America’s most financially inept and irresponsible. As a recognized expert in finance and investments, I .. read more
