Feelings…
Whoa whoa whoa…feelings…
— Morris Albert
Our plane got delayed. This left us in a small waiting room for longer than we wanted to be there. The two large TV screens were inescapable.
Who watches this stuff? Poor schmucks.
[Read more...]Economic Recovery Education
May 4, 2012 By Leave a Comment
Feelings…
Whoa whoa whoa…feelings…
— Morris Albert
Our plane got delayed. This left us in a small waiting room for longer than we wanted to be there. The two large TV screens were inescapable.
Who watches this stuff? Poor schmucks.
[Read more...]Misguided Faith in an Economic Recovery
April 5, 2012 By Leave a Comment
We watched last night the rows of cars below our balcony, snaking their way out of the pollution and congestion of South America’s second largest metropolis, out into the peace and calm of the surrounding campos and estancias.
The usual rabble and riff-raff have left for the long weekend. The city is empty. And quiet.
[Read more...]Housing Data Show an Uncertain Recovery Here in the US
March 26, 2012 By Leave a Comment
Good day. What a weekend here in St. Louis. I spent a majority of it outside, and we even ate dinner last night out on our deck, something that is not normal during the month of March. I enjoyed the scent of my wife’s lilac bushes as I was sitting outside last night, reading up on the currency markets. The research pointed to poor housing data Friday morning as the reason for the drop in the US dollar on Friday.
[Read more...]How Austerity Hinders an Economic Recovery
February 23, 2012 By Leave a Comment
This will be our last Daily Reckoning until April 17th.
So, what well-chosen words can we leave you with?
How about “if,” “but” and “maybe?”
Yes, dear reader, if everything continues to clunk along as it is today…maybe the world financial system will hold together until we get back.
[Read more...]Opposing Trends in Debt and GDP Growth
February 22, 2012 By Leave a Comment
$100 billion down…
$40 trillion left to go!
Hey, don’t hold us to those figures. But yesterday European sages cut another deal to stave off the truth. Instead of defaulting openly and honestly — as Greece has done over and over again ever since 1827 — the Greeks will be ‘rescued.’
[Read more...]Economic Recovery Without the Pain of De-Leveraging
February 21, 2012 By Leave a Comment
If only Keynes had gone to Carnival!
Buenos Aires is hot and humid. We wilt. We slow down. We find it hard to breathe. It’s like Maryland in the summer time
But the humid weather doesn’t stop the partying.
We arrived at 2AM. A drum band was performing…amid shrieks of laughter…about a block away. It’s Carnival time in South America, a rush of late night revelry before the party stops for Lent. Yesterday was a holiday; so is today.
[Read more...]Where to Wait Out the Great Correction
February 15, 2012 By Leave a Comment
Tired of running out of time and money? Scrimping and saving just to make ends meet?
Try moving to Harlingen, Texas. The cost of living there is only about 40% of the cost of living in Manhattan.
Here’s Real Time Economics with a report:
Obama has spoken about having the rich pay their fair share, and $250,000 is a lot of money. But to characterize those households that earn that sum as “rich” depends very much on where they live. Thanks to regional differences on costs, $250,000 does not go so far in places like New York City and Honolulu, compared with cities in Texas or Tennessee.
[Read more...]
Economic Recovery Education
Feelings…
Whoa whoa whoa…feelings…
— Morris Albert
Our plane got delayed. This left us in a small waiting room for longer than we wanted to be there. The two large TV screens were inescapable.
Who watches this stuff? Poor schmucks.
[Read more...]