Earlier this year, in “The Next Great Depression,†I noted several parallels between the political economy of the early 1930s and today. Another intriguing parallel between then and now is the striking similarities between Barack Obama and Franklin Delano Roosevelt. FDR attended Harvard and Columbia Law School. Obama attended Columbia and Harvard Law. Both...
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Global stock markets have been plummeting. Where the bottom is, nobody knows. There will be gut-wrenching zigs and hopeful zags along the way; they will be of larger magnitude andâ€â€Âin our digital age of instant responseâ€â€Âwill occur with greater rapidity than ever before. Perhaps we are near the bottom. Remember, “the darkest hour precedes...
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What issue(s) dominated the presidential campaign two months agoâ€â€Âforeign policy, taxes, health care? That seems like ancient history now. The one question that everyone wants Barack Obama and John McCain to answer now is: What will you do to fix the economy? This question is certainly understandable, but breathtakingly preposterous and pathetic. Naturally, America’s...
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The biggest bailout plan (so far) will continue to be revised in an attempt to win approval of a congressional majority. The goal of the Emergency Economic Stabilization Act of 2008 is to put the brakes on the unwinding of the largest debt and leverage bubble in history in the hope of preventing a...
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So powerful are the media that they have been referred to as the fourth branch of government. Indeed, they can make or break reputations. Example: when former Vice President Dan Quayle misspelled “potato†by adding an “e,†the press magnified and harped on the incident so much that Quayle never escaped the general perception...
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