Archive for November, 2008
Government Insolvency?
Thursday, November 20th, 2008In the early 1980s I predicted that the U.S. Government was headed for insolvency in my lifetime. By abandoning the gold standard in 1971 and resorting to a fiat currency, the previously built-in discipline to resist excessive money creation and deficit spending was abandoned. The U.S. culture changed, as more people looked to the Federal [...]
Vacant Land Market Update
Monday, November 17th, 2008Believe it or not, in these uncertain economic times, demand for certain types of vacant land seems to be increasing. Why? There is unusual caution among stock market investors, as they not only want to exit the market because of falling prices, they are becoming concerned about the “going concern” issue. Seemingly healthy, profitable companies [...]
New Bridge to Nowhere
Friday, November 14th, 2008Detroit automakers are asking for a bridge loan from the government. They are running out of money. They have been losing money for years. The outlook for the economy is bleak. The demand for automobiles is declining. There is excess auto manufacturing capacity, both nationally and worldwide. Detroit automakers are asking the government for a [...]
In Praise of Selfishness
Tuesday, November 11th, 2008During the presidential campaign, Barack Obama ridiculed selfishness. Joe Biden said paying more in taxes is patriotic, implying that minimizing taxes is selfish and an indication that you are uncaring about your fellow citizens. Members of the news media regularly condemn businesses and businessmen for what they see as selfish and greedy behavior. The popular [...]