That Makes Me Stabby: Do We Have an Obligation to Spend?

The other day I was watching CNN. (I need to stop doing that. It tends to make me stabby.) ... . I didn’t buy multiple cars I didn’t need. I didn’t let mounds of credit card pile up without panicking ... , not permanently. As I said yesterday, we need to pay down our debt, but the government also needs to fund [more...]

Date: 2009-01-15 01:51:12

Blog posts (155) | Videos (134)
 

The U.S. Dollar: A Federal Reserve Thingy

by The Mogambo Guru The front of a recent issue of Barron's asks, "Are Treasury Bonds Safe? ... , "This means that anybody who is buying any debt - when the central banks of the world are creating more and more money and credit at such astronomical rates - is a real moron, or lunatic, or both [more...]

Date: 2009-01-07 21:29:29

Bring Back Paternalism in the Mortgage Market

Not Responsible—Tom Jones Now let me ask you something: Have you ever felt that you weren’t responsible for the things that you do? I do not like government paternalism. When Ronald Reagan came to power and began our 25 year experiment with government deregulation, I thought it was a good idea [more...]

Date: 2009-01-12 15:43:03

Foundations of Crisis

This week I have a special Outside the Box for you. My long-time friend Doug Casey wrote a very prescient piece back in 1997. He has updated it somewhat for today’s times. The critical part is a summary of the work of Richard Strauss and (friend) John Howe and their book The Fourth Turning, [more...]

Date: 2009-01-02 11:15:02

A Worst-Case Commodity Scenario

The task of today's Daily Reckoning is to ponder what could cause the All Ords and the ASX/200 to make a new low in the first quarter of 2009. A warning, today's issue is longer than normal. But the stakes are higher than normal too. So we hope you'll bear with us. By the way, by new low, we mean could the indices take out the March 2003 lows? [more...]

Date: 2009-01-15 02:42:34

An argument for forgiving consumer debt.

An argument for forgiving consumer debt. Looks like Bank of America needs more money to save Merril Lynch ... to debt servicing, that is the money paid in interest late fees and overlimit fees, all the things ... , that just creates a bigger hole down the road. A better sollution is to figure out a way to get people out of debt [more...]

Date: 2009-01-15 18:04:55

Disingenuous New York Times Story on Global Imbalances

Since I am endeavoring to spend some time with my family, forgive me for dispatching this New York Times story, "Dollar Shift: ... surpluses and oversaving). Bernanke chose to position the problem as a "savings glut" which had the convenient effect of placing responsibility for the problem overseas, particularly on the Chinese [more...]

Date: 2008-12-26 07:21:29

Baby-Sitting the Economy

Baby-Sitting the Economy The baby-sitting co-op that went bust teaches us something that could save the world.By Paul Krugman Posted Friday, Aug. 14, 1998Twenty years ago I read a story that changed my life. I think about that story often; it helps me to stay calm in the face of crisis, to remain hopeful in times of depression, [more...]

Date: 2009-01-12 18:41:00

Rich Blog, Poor Blog

Last night I was watching NOW, featuring Harvard law professor and TPM guest writer Elizabeth Warren, ... History of the Credit Card." And do check out the full Elizabeth Warren interview. It reminded ... that was 'insuring' my credit card, charging a moderate fraction of the balance so that in the event I lost [more...]

Date: 2009-01-03 10:31:45

Quango Irish Bank.

So, starting close to home, finally, it’s Anglo Irish Zero ... under its hood – you can’t pretend the bill isn’t yours – and, overnight, the Irish national debt ... encumber the State with a truly huge amount of total junk – the problem is that they're probably going [more...]

Date: 2009-01-16 02:21:50

Carnival of Debt Reduction: Tips via Twitter Edition

Welcome to the Carnival of Debt Reduction, a traveling weekly roundup of the best articles in the blogosphere covering credit cards, consumer debt, mortgages, and the elimination thereof. Here is more information about the Carnival of Debt ... to be featured in today’s Carnival of Debt Reduction. What follows is the best of those submissions [more...]

Date: 2009-01-12 13:00:59

Fazzari on Keynesian Economics

Steve Fazzari, of Washington University in St. Louis, talks with EconTalk host Russ Roberts about Keynesian economics ... About this week's guest: Steve Fazzari's Home page "Household Debt in the Consumer Age: Source of Growth ... of Economics. Government Debt and Deficits, by John Seater. Concise Encyclopedia of Economics. John [more...]

Date: 2009-01-12 11:29:25

GOPUSA ILLINOIS Daily Clips - December 28, 2008

DIERSEN QUESTIONS: When will Obama drive the stock market back up, end the recession, end the depression, save democracy, save capitalism, save America, save the planet, etc. by infuriating the Toyota Republicans and urging everyone across the planet to buy vehicles made by three American companies -- GM, Ford, and Chrysler? [more...]

Date: 2008-12-28 14:09:12

Secretary Rice's "Foundation for History's Judgment"

Secretary of State Condoleezza Rice gave an end-of-term interview this morning to Rita Braver of CBS Sunday Morning. There's a lot to chew on given the far-reaching nature of the interview that covered the image of the US abroad, the war in Iraq, the Israeli-Palestinian conflict, the Sino-American relationship, [more...]

Date: 2008-12-29 04:52:33

Another “Top” list

I just knew that there had to be more top (ten) lists. Either for this past year, or for the new year. I found another one, and it is great!2008 in review: Top questions Barack Obama did not answerBy Mark AlexanderPerhaps you’ve noticed an abundance of “Top Ten” lists in recent weeks [more...]

Date: 2009-01-12 21:44:00

A Word On Credit Card Debt Reduction

Too many Americans have been getting caught up in the credit card debt cycle and have not figured out a way to escape ... is with a credit card debt relief program. The problem is not many have any clue as to what is available to them ... free of credit card debt much faster. The only problem many debtors have with this type of a program [more...]

Date: 2009-01-15 16:29:48

Total Mind and Body Fitness Blog Carnival 84

Monday is Blog Carnivals Day. A Blog Carnival is basically a collection of articles or blog posts, all relating to a similar subject, that are gathered together for your viewing pleasure. You can quickly and conveniently see a list of Article Titles and click on the ones that interest you to read the full post [more...]

Date: 2009-01-12 17:10:29

PRINT IS DEAD - EGON

Nothing we are doing here today is meant in any way to suggest that we don’t believe in the future of print publishing in our other newspaper markets" ... and went private. Now it is so saddled with debt and loss of business, it fold entirely [more...]

Date: 2009-01-12 16:19:00

Interview with Blogger / Venture Capitalist Joichi Ito

TPS is so proud and elated to passionately publish the pearl studded interview of Joichi Ito. Joichi Ito, born June 19, 1966), more commonly known as Joi Ito, is a Japanese activist, entrepreneur, and venture capitalist. Ito has received recognition for his role as an entrepreneur focused on Internet and technology companies and has founded, [more...]

Date: 2009-01-03 10:00:24

New Credit Card Rules and Regulations - The Good and The Bad

Note: The New Credit Card Rules Do Not Go Into Effect Until July 1, 2010 These days, it seems like whenever there’s a good thing going or some attractive opportunity for pecuniary gain or profit, the masses ultimately swarm the offer like locusts until they’ve completely ruined it for everyone else [more...]

Date: 2008-12-25 03:28:28

Buying a New Home? Financing Factors to Consider

In industry parlance, a deal is deemed “sealed” or “closed” or “done” when the final payment for the property has been made ... , the lender would pass on this increase to the end-consumer (the borrower), and you’d be caught gasping [more...]

Date: 2009-01-15 13:35:38

How to Make Your New Year’s Resolutions Stick

Yesterday a GRS reader named “P” pointed me to a New York Times article from Alex Williams, who writes that change isn’t easy ... a divorce from debt. Then you “can look back at your old life as a romantic adventure, rather than [more...]

Date: 2009-01-02 13:00:28

“The U.S. Just Isn't Going Anywhere Good”

With all the death and destruction in Palestine, it’s sometimes easy to forget that the North American economy is going down the toilet ... , if you invest in $300 billion worth of toxic debt, that’s the United States government’s problem.And [more...]

Date: 2009-01-15 00:38:00

Deregulation Japan-style: on the (local) grog

Author: Luke Nottage (with thanks to Ichiro Araki) ... of much accumulated government debt. The country was then hit by the collapse of its export markets ... , evident in product safety or consumer credit re-regulation. On the other hand, deregulation [more...]

Date: 2009-01-15 05:00:05

Obama Plans To Stimulate Economy With Big Tax Cuts

President-elect Barack Obama’s plan to fix America’s ailing economy has become a little clearer with the latest announcements ... of a tax cut than a tax rebate. Along with the consumer tax cuts, Obama is also planning to cut taxes ... about the potential impact of this plan on the ballooning debt load we will likely leave [more...]

Date: 2009-01-05 19:32:35

How "Something For Nothing" Ideas Become Policy

Leaders all over the world are now in an Undeniable Shift to Keynes even though every such attempt in history has failed ... a generation with having to pay off British debt.Jürgen Stark, an executive board member of the European [more...]

Date: 2009-01-02 08:49:00

Pertinent Obituary, Dimon Says Worst Not Over, Oil Producers Struggle, The Next Bubble and More!

One company to summarize all of the last 10 years… now on its deathbed Credit crisis survivor predicts “worst… not yet behind us” Oil ... more in the fourth, had a $100 million interest payment due this morning and $4.5 billion in looming debt [more...]

Date: 2009-01-15 19:40:53

Thinking Strategically About a Post-Balanced Budget Future

Paul Krugman has a good column today about how state balanced budget needs lead to perverse outcomes during an economic crisis that demands fiscal ... anything except federal debt, and those states that can borrow at all are being forced to pay [more...]

Date: 2008-12-29 21:15:46

Debt Consolidation Service

Debt Consolidation Service Are you living paycheck to paycheck?  Worried about debt collectors? ... familiar, you may want to consider  Debt Consolidation Service and the services of a credit counselor ... contributions that cause them to fall deeper into debt. Most credit counselors offer services through local [more...]

Date: 2009-01-15 18:45:16

Words from the (investment) wise 12.28.08

Investors spent the holiday-shortened Christmas week in an un-merry mood, digesting more gloomy economic data and taking stock of a tumultuous 2008 ... s exuberance), but also still be battling with the implications of the credit crisis for the global economy [more...]

Date: 2008-12-28 12:31:33

Can China Avoid a Post-Olympic Economic Downturn?

By Adam Kritzer Economic analysis indicates that countries that host the Olympic Games typically suffer from economic decline and currency ... toys, medicines, and most recently, dairy products. Then came the credit crisis, which exploded [more...]

Date: 2009-01-12 14:39:56

Do You Have Credit Problems?

Do You Have Credit Problems? by Landon McGehee The term “bad credit” does not mean no credit. It actually means that any credit you may be able to get is at a much higher cost. Because ... are. Your problem: Your credit report contains information that is just wrong. Method #1: Contact the credit [more...]

Date: 2009-01-15 09:12:45

Why So Little Self-Recrimination Among Economists?

Why is it that economics is a Teflon discipline, seemingly unable to admit or recognize its errors? ... well know, prices rose at an accelerating pace), rising levels of consumer debt, stagnant average [more...]

Date: 2009-01-12 09:21:07

The End of Trade's Golden Age

Put Bernie Madoff on the public payroll! Today, we're going to give the feds some advice. Many will find our advice repulsive ... a bigger problem. And in Spain, people are so desperate for work they're joining the army [more...]

Date: 2009-01-14 22:25:25

Foundations of Crisis

Foundations of Crisis Posted by Roger on January 14th 2009 Guest Article By Doug Casey, Chairman, The Casey Report, Casey Research, LLC ... if the amount of consumer debt out there, mostly accumulating at 18% interest, is any indication. One point [more...]

Date: 2009-01-15 01:50:29

Put Bernie Madoff at the Treasury!

Put Bernie Madoff on the public payroll! Today, we're going to give the feds some advice. Many will find our advice repulsive ... it was becoming a bigger problem. And in Spain, people are so desperate for work they're joining the army [more...]

Date: 2009-01-14 04:52:06

The Unprecedented Sales Management Challenge for 2009

The JF Guest Author Spot Lee B. Salz Sales managers are facing a set of challenges that they’ve never experienced before ... with concerns of mounting debt, drastic drops in home values, a real fear of job loss, and disgust over [more...]

Date: 2009-01-15 08:14:03

Banks’ Loan Losses Could Reach $2 Trillion

It is little wonder financial markets are taking a beating ... look at losses on U.S. loans, not the bad mortgages and debt sitting in places like Europe ... debt and business debt and Goldman’s loan loss estimate hit $2.1 trillion. Many of those losses [more...]

Date: 2009-01-15 18:04:50

Banks? Loan Losses Could Reach $2 Trillion

It is little wonder financial markets are taking a beating ... look at losses on U.S. loans, not the bad mortgages and debt sitting in places like Europe ... debt and business debt and Goldman’s loan loss estimate hit $2.1 trillion. Many of those losses [more...]

Date: 2009-01-15 17:06:33

Readers Debate the Bush Economy

Readers Debate the Bush EconomyPost reporters Neil Irwin and Dan Eggen have energized the anti-Bush administration crowd this morning with their analysis that the outgoing president "has presided over the weakest eight-year span for the U.S. economy in decades [more...]

Date: 2009-01-12 14:15:00

NJ Gov. Corzine Contemplates Budget Cuts

Are they really budget cuts or are they reductions in the increase in state spending from previous projections? ... in debt financing to make the stem cell research center work, but taxpayers voted that down [more...]

Date: 2009-01-06 16:25:00

Bernanke drops pretense of secrecy and airs Fed's plans

McClatchy Washington Bureau With its benchmark lending rate effectively at zero, Federal Reserve Chairman Ben Bernanke on Tuesday, ... range of consumer and business lending -- to a range between zero and a quarter percent [more...]

Date: 2009-01-14 18:46:44

Asia Economic Crisis: Spotlight on Japan, China, Korea, Vietnam

Decoupling, an idea that never made any sense, is talking another beating ... has yet to implement two stimulus packages.“Data clearly indicate the problem for Japan is deflation [more...]

Date: 2008-12-27 08:10:00

Debt Management Dealing With Debt Management Credit Counseling & Debt Management Credit Counseling Corp

If you feel like you are already drowning in the debts that you have gotten yourself into, ... facing enough to worry about as we struggle with card credit debt management services. You may also ... that consumer credit card debt management resources or company that can render the help [more...]

Date: 2009-01-15 03:34:16

The Horror of Just Paying Monthly Minimum Payment to Credit Cards

I think a lot of the people's consumer debt stems from charging a large ticket item into "manageable" monthly minimum payments. However, the problem that often arises is that a person only pays back the minimum. 6 Vote(s) [more...]

Date: 2009-09-29 14:02:18

DrumBeat: December 29, 2008

Gazprom, Once Mighty, Is Reeling MOSCOW — A year ago, Gazprom, the Russian natural gas monopoly, ... Exxon Mobil and General Electric. Today, Gazprom is deep in debt and negotiating a government bailout [more...]

Date: 2008-12-29 14:06:30

When it is a matter of what looks good and no state wants to say there’s a problem and deflate projections and egos -

http://www.oecd.org/dataoecd/46/17/37671574.pdfDATA AND METADATA REPORTING AND PRESENTATION HANDBOOKThe need for the articulation of a comprehensive ... of different definitions and concepts and differences arising from varying collection and statistical data [more...]

Date: 2009-01-15 08:46:36

Doug Casey: We've Just Begun "The Greater Depression"

This is a guest article by Casey Research Founder and Chairman, Doug Casey. Enjoy! ... and slanted. And they must not think very much about the future either if the amount of consumer debt [more...]

Date: 2009-01-13 23:08:00

Deflation, Deleveraging, and the Stimulus Effect

Forecast 2009: Deflation and Recession January 10, 2009 By John Mauldin Where are we headed in 2009? ... of economic theory and practical investment advice. Already committed to speak are Martin Barnes [more...]

Date: 2009-01-11 12:32:28

Fed Watch: Starting on an Ugly Note

Will the economic recovery package will be too "fleeting": Starting on an Ugly Note, by Tim Duy: ... . But will the package provide little more than short term relief or a lasting fix? The last two weeks [more...]

Date: 2009-01-05 08:24:00

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