The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

$5 Billion To B-of-A, And All The IRS Got Was A Lousy T-Shirt Full Of Platitudes

by Smitty Stop Coddling the Super-Rich, saith the sagebrush of Omaha on 15 August: OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched. Oh boo-effing-hoo. Wait, what’s today’s news? Warren […]

The Economics of Wishful Thinking

The frustrating thing about Ezra Klein is that, just when you think the Boy Genius of the Juicebox Mafia has gotten the scent of a clue, he goes running off on another liberal wild-goose chase: When the financial markets collapsed [in 2008], household debt was nearly 100 percent of GDP. It’s now down to 90 […]

Obamanomics Helps Wall Street Fat Cats?

Four years ago, Bank of America stock was trading above $50 a share. It’s now selling for less than $7 a share. And it may be worth a lot less like that: The stock of a humongous American bank, Bank of America (BAC), is collapsing. This is stoking fears that Bank of America will go […]

How Many Ounces of Gold Does It
Take to Buy a House in Baltimore?

Answer: Fewer today than it did yesterday! Gold prices have been on a tear lately, topping a fresh record high above $1,900 an ounce late Monday — just two weeks after rising above $1,800. . . . Gold prices rose 2.4% during the regular trading session to settle at $1,891.90 an ounce. In after hours […]

Gold Nears $1,900 per Ounce

Anyone seriously expect it to stop short of $2,000? Gold futures notch a fresh nominal record in electronic trading in Asia on Monday, against a backdrop of concerns over the health of the economies in Europe and the U.S. Gold for December traded at $1,882.50 per ounce, up $30.20 in electronic trading. Gold futures reached […]

‘Fight’ Whom, Congressman?

Excuse my visceral reaction to this story: Cummings: Black community wants Obama to ‘fight harder’ Rep. Elijah Cummings (D-Md.) said Sunday that African-Americans want President Obama to “fight harder” to create jobs in the struggling U.S. economy. Speaking on CNN’s State of the Union, Cummings said the black community is very protective of Obama and […]

Obamanomics in Action: Houses in Baltimore Selling for Less Than $10,000

Hundreds of urban homes have sold for rock-bottom prices: One of every 10 city homes sold during the first half of the year — about 275 in all — fell in that price range [below $10,000]. Twice as many sold for under $20,000. … More city homes sold for less than $10,000 between January and […]

Obama’s Basic Problem: They Don’t Teach Economics at Harvard Law School

Ace of Spades points out the obvious: When Obama was on this supposed non-political listening tour in swing states, he actually wasn’t presenting a plan, of course. He was promising he would have a plan. That’s odd, isn’t it? All Obama knows about economics is what his neo-Keynesian advisers tell him about the glorious benefits […]

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