By Les Dunaway
This week was interesting! We had sort of a replay of how we got where we are – circling the drain, that is. We are running out of runway on the debt ceiling and on the general subject of getting spending under control.
First, we got the news that the housing crash has past the losses of the Great Depression [read]. The underlying causes of … Read more...
By Les Dunaway
Four stories were in the news this week. At first glance, three were financial, our normal subject area, and the other was about character and morality. However, upon reflection – which I had plenty of time for as I had a badly scattered series of appointments – all four are about what happens when voters fail to heed the the admonition which titles this article “Know your … Read more...
By Les Dunaway
In a move surprising only those who believe demagoguery is a substitute for economics, the Standard & Poor Ratings Services downgraded its outlook on the US to “Negative” from “Stable”. This is the first step toward a downgrade of the US credit rating from AAA, which would increase borrowing costs and hasten America’s spiral into economic ruin.
“More than two … Read more...
By Les Dunaway
On Tuesday, either the PC-censor was out sick or there’s a new kid who’s not yet trained – either way a piece was published that is worthy of attention
“Inflation Actually Near 10% Using Older Measure“.
What “older measure” you might ask. Well, the older measure based on actual arithmetic rather than “Hedonic Adjustments” .
The Bureau of Labor Statistics describes the process … Read more...
By Les Dunaway
With our non-royalty political structure, the term sovereign is not a household word. It is one with which we need to become familiar. The term refers to governments, as in sovereign debt, sovereign default, sovereign bankruptcy and (less frequently) sovereign fiscal responsibility. The following press release tells of an important scholarly work on understanding this critical set of issues:
WASHINGTON, March 23, 2011 /PRNewswire/ — Today, the … Read more...
By Les Dunaway
This week’s column is a commentary, with references, on the “chalk talk” that Paul Ryan (R-WI) Chairman House Budget Committee has been presenting to House Republicans to reach a clear understanding of the crisis our country faces. The presentation does not propose solutions, it is only intended to reach understanding of the problem. Below is the description of the sessions from Politico – Mar 6, 2011, pasted … Read more...