20 September 2011
Evaporation of Wealth on a Vast Scale How $1-million can disappear September 19, 2011 By Elliott Wave International
The bursting of the “debt bubble” which started in 2008 is far from over.
It’s the financial story of our age and it’s happening before our eyes. The full scope is hard to keep up with because it’s unfolding at various levels.
The top level is the sovereign debt crisis:
National governments: Several in Europe and even the U.S.
State and local governments: services slashed; vendors waiting to . . . → Read More: Evaporation of Wealth on a Vast Scale
18 November 2009
There have been many deeply mistaken ideas that enjoyed almost universal acceptance until reality overtook the illusion. Take for instance the once unquestioned truth that “Key West real estate never goes down.”
The persistent and widely accepted falsehood I have in mind for today’s essay is that the current U.S. economy could be accurately described as unrestrained “capitalism.” This idea, and it’s even worse corollary, that lack of regulation of that system has brought us to our present state of crisis, muddies the economic water so thoroughly that you’ve got to be pretty thirsty to try a cupful.
Whatever . . . → Read More: Scapegoating Capitalism
4 November 2009
Fighting capitalism is a thankless task that requires not only a colossal arrogance, but a masterful mendacity. A notable example is the Obama administration’s bragging about having created 640,000 jobs with $159 billion of “stimulus” money. Whether that many jobs were created seems doubtful to me, but let’s assume it is true. We will also ignore that those numbers work out to $250,000 per job. The real questions are, “What are those 640,000 people doing for the money?” and “How does it stimulate the economy?”
We can be fairly certain the new job holders are not producing anything anyone . . . → Read More: Harnessing the Ants so the Hoppers Can Ride
23 September 2009
We’re focused on getting ‘free’ health care without asking why it’s expensive. . . . → Read More: Free Markets Versus Free Health Care
29 July 2009
This morning, my wife Sally and I received some kind words from Key West blogger Rock Trueblood about our past in Key West real estate. Having people praise Sally as knowledgeable and honest is always appreciated, but nothing new. A reference to me, however, as anything but an extremist nut-job is such a surprise, I was compelled to send a note of thanks to Mr. Trueblood.
Because real estate is still of more than passing interest to Key Westers and us, . . . → Read More: Free OFMP, Get Yours Now