After nine months of explosive monetary and fiscal stimulus, you’d think economic recovery would be upon us. But the June jobs report tells a much different story. » Read more
The Business & Media Institute picked up my conversation with the WSJ’s Steve Moore last night about Jenny Sanford, South Carolina Gov. Mark Sanford’s wife, being a possible replacement for her husband in the governor’s mansion. » Read more
So Bernie Madoff was sentenced to 150 years in the slammer today. He also delivered one of his now-patented non-repentant repentance speeches in the courtroom. Oh, by the way, his wife Ruth also issued a statement, and she threw him under the bus. » Read more
The Federal Reserve’s policy statement yesterday elicited a strong King Dollar reaction with its mild dose of hawkishness, which I applaud. I’m reading the Fed positively here. There was no announcement of any new debt monetization via Treasury purchases, a slightly more positive economic view, and an end to deflation worries. This all to the good. » Read more
The worst thing I heard yesterday was the snare-and-delusion proposal announced by Vice President Biden. Apparently, Joe Biden wants to create a new government council to help laid-off autoworkers who are supposed to transition to solar, wind, and biotech industries. Huh? Are you kidding me? » Read more
Why do we need President Obama’s big-bang health-care reform at all? What’s the real agenda here? If it’s really to cover the truly uninsured, a much cheaper, targeted, small-ball approach would do the trick. But on the other hand, maybe the real goal is a larger, ultra-liberal plan aimed at a government takeover of the U.S. health system. » Read more
Does the Obama administration really want to grant a virtual dictatorship to the Federal Reserve on monetary policy and banking oversight and regulation? The Fed already has enough trouble figuring out monetary policy. So this business about the central bank engaging in systemic-risk regulation and all the accompanying regulatory bells and whistles makes no sense. » Read more
It looks like President Obama’s big-bang health-care reform is going down to defeat. This is good. But my question is why do we need it at all? » Read more
Debating whether Wall Street has spun out of control, with Martin Weiss, Weiss Ratings; Dick Bove, Rochdale Securities; Steve Perlstein, Washington Post.
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