Political Economy

Jon Stewart has noticed that Fox News is selling viewers on the view that ‘socialists’ like Warren Buffet and Barack Obama are engaged in class warfare. He presents an amusing view; take a look.

There appear to be no happy outcomes here (although as my friend, Tom Ferguson always reminds me, “If you want to have a happy ending, go see a Disney film”). We appear to be entering most dangerous time for Europe since World War II.

This is a brief follow-up to my post yesterday proclaiming that this is looking more like Hoover every day. Credit Writedowns reader Greg came across the statement below. Who said it, Herbert Hoover or Barack Obama?

Forget about ‘pivoting’ to jobs when right now the President is going to be forced to focus on deficits. The House Majority Leader Eric Cantor has already said he will broker no stimulus and the deficit panel will be in full swing before…

This week's Outside the Box is in the tradition of showing the other side of the argument. Normally, anything George Soros says or does politically has my blood pressure up about 20 points. Yet, I posted another piece of his today in Over…

Once again we are hearing very worried noises from various sectors about the possibility of a reduction in Chinese purchases of USG bonds. Is the PBoC going to stop buying USG bonds?

This says a lot about the President. In his mind, he is dealing with a Madison-, Roosevelt- or Wilson-caliber crisis. And apparently the President also believes the political environment he must manage is even more partisan and poisonous…

Markets stable but tone remains fragile. SNB expanded its sight deposit target; no EUR/CHF peg. BoE’s decision to stay on hold was unanimous. New measures announced by China boost CNY internationalization and integration with HK.

Dangerous stuff being kicked around at a dangerous time. Our sense is both leaders were relieved by the success of ECB intervention to bring down Spanish and Italian bond spreads and they will continue to rely on Trichet’s monetary bazooka…

Ron Paul’s campaign put out the video below. Move over, Barack Obama; now Ron Paul is “the one”.Meanwhile the Paul campaign believes the media, including Fox News, is shutting it out in favour of other lesser candidates. Jon Stewart has a…