Stocks are up a tad as of this writing. They were up quite a bit more than a tad earlier today but, as happened in yesterday’s session, confidence waned around lunch, sending them lower in the afternoon. All in, the major US indexes are off by about 3% and change for the month…and down a little over 4% on the year.
[Read more...]Storm Warning! Part II
May 20, 2011 By Leave a Comment
“Your predictions have become soundly validated, yet that means the dire outcome you feared is arriving,” Chris Martenson remarked in a recent Q&A with Addison Wiggin. “What’s it like for you to be at this time in history?”
Addison answered that question – along with many others – in yesterday’s edition of The Daily Reckoning. Today’s edition features additional insights from Addison in the second and final installment of his Q&A with Chris Martenson.
[Read more...]An Unsustainable Welfare-State Rat Race
July 10, 2010 By Leave a Comment
Like a rat on its exercise wheel, the White House keeps on spinning though new spending program ideas without ever determining a finish line. Basically, how to pay for them.
If the Obama administration decides to step off the spending wheel too late it’s likely to end up with a no-win situation similar to the options pictured below.
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The Arithmetic of a Revolution
Hey… That rascal, Alan Greenspan, is back in the newspapers. And this time he has something sensible to say:
“The emerging fight over the future of the welfare state, a paradigm without serious political challenge in eight decades, is accentuating the center’s declining. The welfare state has run up against a brick wall of economic reality and fiscal book-keeping. Congress, having enacted increases in entitlements without visible means of funding them, is on the brink of a stalemate…”
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