June 2008

I am pretty well satisfied that the subprime mess has reached its pinnacle. While there may yet be many more defaults, much of the disaster in subprime is baked into the cake. It's time to move on. But, move on to what? Most analysts say…

I was inputting some statistics into an excel spreadsheet for unemployment claims when it occurred to me: the Bush administration is cooking the books. Not literally, but figuratively. Here's my logic.Let's leave aside whether the…

The Globe & Mail (via AP) has reported that the first shot across the bow for Big Oil has been delivered by the new Italian Prime Minister Silvio Berlusconi. With oil prices surging and inflation at very elevated levels around the…

I am starting to become quite cynical about the Bush Administration and crony capitalism. There may be no smoking gun, no e-mail chain to indict conspirators. The Bushies may break no laws. But, it is increasingly obvious that the War in…

Apparently the rumors are true, despite what McCain now says. He almost became a Democrat. Jake Tapper has uncovered the story which proves it, buried since 2006.Remember how McCain blew up at Elisabeth Bumiller when she asked him about…

Tariffs and price controls? Apparently, Latin America thinks it can stop the growing tide of inflation and end the riots on their streets by just imposing tariffs and imposing price controls. They better get ready for a blind date with…

In the Washington Post today, Martin Feldstein gives is view on housing. His view is that a downward spiral is likely unless we act to prevent it. Hisplan is essentially a government bailout. Martin Feldstein is the President of the…

The UK government came up with a new inflation data series in the 1990s to replace the RPI for tracking consumer price inflation. Many people believe this series, the CPI, understates the inflation actually experienced by consumers in the…

In an article entitled "Globalized Inflation," Joachim Fels warned in today's Wall Street Journal that inflation is not contained and that we are in a new inflationary period.The conventional theory is that surging food and energy costs…

See Bloomberg News story here and Bloomberg's running tally on my blog here.Related Posts and articles:Loss EstimatesPaulson & Co. Says Writedowns May Reach $1.3 Trillion, Bloomberg 18 Jun 2008