Today, Timothy Geithner’s proposed plan to restore order to our nation’s financial markets fell so far short of solving the problem that it completely missed the target. This plan is like using a popgun to take down a bull elephant, or steering through a tsunami in a boat made of cork with no rudder. It […]

Yesterday, Alex Rodriguez admitted to taking performance enhancing drugs. It seems like every new member of the Obama administration has broken the law. The Bush administration convoluted the truth to commit us to war. The Clinton administration was run like a mafia whorehouse. A Congressman can run a prostitution ring from his Washington home and […]

Like some sprawling conglomerate that can no longer meet its obligations, the United States is about to get broken up and sold to the highest bidder. So, we need to stop teaching Spanish in schools and switch to Chinese. In less than two decades our nation has leveraged itself into bankruptcy. There is no actual […]

As I sit to write this I have $21 in my wallet, a $20 bill and a (soon to be worthless) $1 bill. Looking on the back of these bills I see the words “In God We Trust.” On the $20 bill these words sit in the sky above the White House. I wonder how […]

Make no mistake; the economy is on the brink of a minor depression. So too, is the world. The United States has trillions of dollars in bad debt. Much of it is owned by financial institutions that have yet to completely fess up. The first $350 billion in the bailout TARP package sent a small […]

Yesterday it was announced that Jim Rice was voted into the baseball Hall of Fame. It was a long time coming (15 years) but an election well-deserved. Jim Rice dominated baseball for a period of ten years, putting up near-steroid numbers in an era when beer, caffeine and greenies were the only performance enhancing drugs. […]

If you are baffled at how GM and Ford can rack up a combined annual loss of more than $50 billion and still call themselves viable without making drastic changes, don’t be. They have a secret plan. Whatever rhetoric you hear from Detroit and Washington, don’t believe it. The UAW has no intention to give […]

In September, 2007 I warned of the impending collapse of the financial markets. I felt a little silly for the next month or so, as the stock market continued to climb. But I was certainly vindicated in the next 15 months. The Dow plunged from well above 14,000 to below 8,000. Late last year I […]

Hedge Funds: The Quiet Epidemic We haven’t been hearing too much about hedge funds lately. But I suspect that there will be some news about them fairly soon, as they become the next group to wash out from today’s financial crisis. The typical hedge fund raises money from “accredited investors” through private placements that allow […]

6o Minutes and Half the Truth When I watched the 60 Minutes piece on television the other night, I was impressed at how they were able to boil down a very complicated, global financial meltdown and break it into two easy-to-understand pieces. According to 60 minutes, it was a case of greed and planned ignorance […]