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A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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William Goetzmann, Money Changes Everything: How Finance Made Civilization Possible (Princeton University Press, 2016) Debt mounts up faster than the means to pay. Yet there is widespread lack of awareness regarding what this debt dynamic implies. From Mesopotamia in the third millennium BC to the modern world, the way in which society has dealt with... Read More
Subprime Auto
Rates are low, credit is easy, underwriting is shoddy, and sales are booming. There’s your thumbnail sketch of today’s “surging” auto market. It’s a carbon copy of the subprime mortgage fiasco that plunged the economy into recession 5 years ago. Now the same nightmare is unfolding in Cartopia, the emerging credit Shangri-la where anyone who... Read More
Former Treasury Secretary Timothy Geithner, a protege of Treasury Secretaries Rubin and Summers, has received his reward for continuing the Rubin-Summers-Paulson policy of supporting the “banks too big to fail” at the expense of the economy and American people. For his service to the handful of gigantic banks, whose existence attests to the fact that... Read More
Bernanke's Triumph
There’s an excellent article in Thursday’s Wall Street Journal that details the ruinous impact of the Fed’s monetary policy. While the real economy has seen no benefit from the Central Bank’s zero rates and quantitative easing (QE), corporations and financial institutions have gone on a borrowing binge that has boosted their leverage to precrisis levels.... Read More
TORONTO – Broken store windows have been repaired, burned out cars and debris removed. Security barriers that turned much of downtown Toronto into a fortress are gone, and so has a small army of police and security agents. The hooligans have decamped. To everyone’s relief, the G8/G20 economic summit held in Toronto and a lake... Read More
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PastClassics
The unspoken statistical reality of urban crime over the last quarter century.
The “war hero” candidate buried information about POWs left behind in Vietnam.
The major media overlooked Communist spies and Madoff’s fraud. What are they missing today?
What Was John McCain's True Wartime Record in Vietnam?