Political Economy

I have seen this all over the political blogosphere.  Blagojevich is reputed to have been under investigation for corruption and wire-tapping charges for quite a while.  They finally decided to pull the trigger and arrest him over this.…

A friend sent me a mock-up of an application for the free money the U.S. government is handing out in its bailout program. Very funny. Sign up for the EZ-Cash. (Hat-tip Scott)

Recently, I have written quite a few posts demonstrating the U.S. Federal Reserve has a ballooning balance sheet as it increases its purchases of assets at an unprecedented clip. In fact, that balance sheet had $800 billion in assets just…

Angela Merkel, the German Chancellor has rebuked the United States for its easy money policies, suggesting it was kicking the can down the road and setting up a greater problem later. It is high time the debate about monetary policy made…

Back on November 7th, I posted a story on how Bloomberg News was compelled to sue the Federal Reserve under the Freedom of Information Act in order to find out what type of assets the Federal Reserve was accepting as collateral for loans to…

I have come down on the side of sweeping change when it comes to the banking system in the United States. Basically, I fear a further downward spiral due to the fear and panic that the banking crisis has unleashed. In my view, this…

Yves Smith at Naked Capitalism is reporting that Larry Summers is to be tapped to head Barack Obama's National Economic Counsel.  Summers had been considered for the Treasury position, one that looks likely to go to Tim Geithner, the head…

In direct conflict with the statements in Washington by its Chief Executive Rick Wagoner, the General Motors Board of Directors is willing to consider bankruptcy as one of many options. The Wall Street Journal released a story late last…

So I go away for a few hours and the whole world changes? Apparently Barack Obama has made a decisive move to fill out his cabinet and we are about to witness three appointments: Tim Geithner at Treasury, Hillary Clinton at State, and…

Bloomberg is reporting that Obama's transition team is exploring a pre-packaged bankruptcy filing for the US automakers as a solution to the stand-off in Washington. Apparently, Obama has some pretty savvy people in his transition team…