Cowards have no business making hard choices. They are psychologically, physiologically and spiritually deficient, and cannot (are incapable) of making the right choice. They are not built for it — because they are cowards. Furthermore, they are so afraid, they will not allow those with courage to make the right choice for them. Cowardliness is rampant in the West and epidemic in the Western financial | Read More »
When Putin announced that Russia would no longer sell its oil and natural gas in dollars, there were the normal — its OK type statements from the financial world, and it was viewed by the Western financial cognoscenti as an anomaly. However, since the Federal Reserve is printing an estimated $600 billion a year to give to bankers and brokers, who then buy U.S. Treasury | Read More »
Who knew the U.S. government has $100 trillion in unfunded liabilities? The Chinese government warned the global financial community that it is very concerned about our massive printing of U.S. dollars and that we are using the magically printed money to buy our own T-Bills. We use the money from the “investors” who bought to the T-Bills to cut U.S. government checks. (Think California with | Read More »
One of the central points in Senator Gregg’s op-ed about our debt is his warning about the Chinese government not buying our debt: If the Chinese start to reduce their purchases of our government securities because of our need to borrow increasing amounts of money to finance all the spending that the president has proposed, we will have to start offering higher interest payments to | Read More »
These two paragraphs from the Weekly Standard reasonably sum up the connect the dots between health reform, deficits, interest rates and the value of the U.S. dollar: The president is about to engineer the takeover of the health care sector. Unless Congress refuses to go along with the establishment of a government insurer — voter enthusiasm for this “reform” is minimal — competition from an | Read More »
From the diaries, by Erick. As the health care industry collectively does a damage assessment of the Pelosi-Kennedy-Obama health care plans to their individual interests, one thing is clear: things have changed radically in the last week: hospitals will be facing cuts of billions from Medicare and Medicaid; big Pharma is facing a certain drug re-importation fight sooner than later, likely during the health care | Read More »
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