Relevant and even prescient commentary on news, politics and the economy.

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Hubbard’s New Nonsense

…chief economic advisor, the administration was telling us in effect that they expected GDP would grow at a double digit rate in fiscal 2001. In other words, crazy #$!&. Whether…

Is it true that foreigners finance American debt?

…would have been about double that and its accumulated balance right at 4X that of China). Still obviously China is the biggest single current player, after all in the three…

What’Swap: Accounting for Financial Innovation

…in financial operator speak). This means that if I send huge orders for bonds and short orders for bond futures to the double auction market, I will pay a huge…

Recovery vehicle? Who knows.

…will continue to be stricken with “business cycles” which really just reflect the schizophrenic wants and needs of the investor class as they “chase” ever elusive double digit returns. Most…

Politically Motivated Biased Censoring

…some of the warning signs that told us GW was going to be a failure, in particular, that they relied on crazy wishful thinking (i.e., double digit economic growth) and…

Canceled debate

…his rivals. “Clearly, this is more double-talk from the McCain campaign,” said Alixe Mattingly, a spokeswoman for Bush. “Pulling out of this debate at the last minute is an indication…

Financial Arsonists ?

…wait and hope for no default, but they can’t pay actuarily fair premiums. When you are insolvent, risk, variance, double or nothing is your only hope of survival. Corporate recovery…

Not Since Mother Courage and Her Children…*

double the leverage they were allowed to keep on their balance sheets and remove discounts that had been applied to the assets they had been required to keep to protect…