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Watching the debt-ceiling debate currently taking place in Washington I am reminded of the 1955 James Dean movie “Rebel Without a Cause”. In the movie, James Dean’s character and his rival challenge each other to a game of “chicken”. In this game, the contestants drive their cars at full speed toward the edge of a [...]
Filed under: Debt-Ceiling Debate, Economy, Politics, US Debt | Leave a Comment »
In his 1968 book, “The American Challenge”, author J.-J. Servan-Schreiber, founder and editor of the French weekly L’Express, examined the sources of American economic dynamism in 1960’s Europe. It was American companies that moved aggressively to take advantage of the liberalization of European trade regulations created by the establishment of The European Economic Community (EEC) [...]
Filed under: Economy, Politics | 2 Comments »
The capacity for mind-numbing stupidity in Washington never ceases to amaze. The most recent reminder of this unfortunate tendency is contained in President Obama’s latest proposal for stimulating the U.S. economy. Incomprehensibly, President Obama plans to introduce, among other measures, a series of tax cuts and credits for small businesses to stimulate the economy. In [...]
Filed under: Economy, Recession | Leave a Comment »
With billion dollar bonuses and boundless arrogance, Wall Street bankers have accomplished a feat that has eluded politicians for nearly seventy years: they have unified American public opinion. Not since the Japanese bombed Pearl Harbor has the American public expressed such universal outrage over a single event or issue. Their anger is justified. American families [...]
Filed under: Economy, Financial Regulation | Leave a Comment »
Treasury Secretary Geithner’s record in dealing with the “credit crisis” has been less than impressive. His Wikipedia page indicates that Mr. Geithner played a pivotal role in the bailout of AIG. We all know how well that went. Now, the Treasury department, under the direction of Secretary Geithner, has introduced its public-private plan to purchase [...]
Filed under: Credit Crisis, Economy | 1 Comment »
