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The “Failure” of American-style Capitalism According to our media, questions are being raised at the World Economic Forum in Davos about America’s version of capitalism. The idea is that, unlike Europe’s version of regulated and humane capitalism, American capitalism is unregulated, freewheeling, and dangerous. Such world leaders as those well known capitalists Chinese Premier Wen Jiabao [...] Declining Housing Inventory May Mean Something One of the keys to recovery will be a stabilization of housing prices evidenced by a reduction in the supply of homes for sale. There are many elements to this recession but [...] Subscribers from The Subprime Crisis Forum have been moved to our new site We’ve moved our blog from Blogger to an independent site. We’ve renamed it, The Daily Capitalist. We’ve created a site that we feel is easier for you and for us to use. My son, creative director for an Internet based company, designed the site. I [...] It Takes More Than Good Intentions To Make Government Work “There are some who question the scale of our ambitions — who suggest that our system cannot tolerate too many big plans. Their memories are short. For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined [...] Here is a comment from Credit Writedowns, a blog that I follow. Normally I make a point of writing all commentary on this blog in order to provide my readers information they won’t find elsewhere. But this article by Marshall Auerback is too good to not repost here. Posted January 16th, 2009 By Marshall Auerback: Marshall Auerback [...]
Dear President-elect Obama: Since I haven’t heard about my online application for a job in your administration, I thought I would inquire directly with you. I thought I had good qualifications to be appointed to some economics advisory position, but, apparently not. I was hoping for the Council of Economic Advisors, National Economic Council, [...] Here is a short video from the Cato Institute critiquing Keynesian fiscal stimulus. It’s everything you wanted to know about the failure of Keynesian theory. Click here if you want to see a longer version of this video. There has been a huge controversy among economists, politicians, regulators, and bankers on how to deal with bank assets that have lost value. There is a FASB rule (Statement 157) that requires public companies (i. e., banks) to value some of their capital assets on their balance sheets at fair market value. This is the [...] By Jeff Harding President-elect Obama says that he will spend upwards of a trillion dollars the kick-start the economy. President Bush fully supports Hank Paulson and Ben Bernanke in their efforts to spend our way out of a serious recession-depression. Almost all economists, liberal and conservative, agree that the government will have to spend hugely to [...] The commentary quoted below from the Wall Street Journal (“Feel Like a Trillion Bucks”) caught my attention. How much is a trillion? The human mind is not well equipped to fathom a number that large. A check for $1 trillion — a million million dollars — would have 12 zeros to the left of the [...] Historical Data May Give Guidance This economic recession is considered to be the worst financial hit to the US since the Great Depression. How can we plan ahead and make good business and investment decisions? One of the questions I am frequently asked is: how long will it last? My answer is that (a) I [...] |
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