The upset results of the Massachusetts US Senate special election are being widely dissected by pundits looking for explanations and ramifications coming out of this election. The obvious culprit is “Obamacare” but as with most things in life, the explanation is not so singular. However, make no mistake: President Obama bears nearly full blame for [...]
A follow-up on last week’s post on the myth of American overconsumption, the Wall Street Journal has two extended articles which illustrate some of the depth of the US health care crisis. Readers will recall Michael Santoli’s assertion that most of the growth in consumer spending over the last few decades was due to rising [...]
Let’s call it like it is: Palin is now a proven quitter. The woman whom supporters affectionately referred to as Sarah Barracuda and a pitbull with lipstick (OK, she put that tag on herself), ostensibly because she is so tenacious, has announced that she is quitting as governor of Alaska on the flimsiest of grounds [...]
That’s what Barry Ritholtz over at the Big Picture is calling our President: Barack W. Obama. Ritholtz sees little difference between Obama’s financial sector polices and those of his predecessor. Speaking as a supporter of Obama during the election campaign, I must agree with Ritholtz. The Obama administration has neutered every attempt at serious reform [...]
The Financial Times released results of a new FT/Harris poll: Sharp Divide In Public Opinion On Bonus Culture How Business Turned Into The Bogeyman Thus continues the corporate class’ continued propoganda campaign, with the complicity of mainstream financial media, to promote themselves as the engine that makes the world turn. Notice how often these corporate [...]
CNBC’s coverage this morning in the wake of Obama’s budget plan is laughable and pathetic. Obama’s “War On Wealth”? Are they presenting news and analysis or is simply a monied version of conservative talk radio? On Obama’s budget plan, I confess ignorance to the fine details. Not only that but I paraphrase Seth Klarman’s wise [...]
