While the President plays Chicken Little, the Markets don’t seem to care about the debt ceiling deadlock
Despite President Obama’s effort to roil the markets first on Friday and again Monday night, the world markets refuse to be stampeded into a sell-off even in the face of Secretary Geitner’s threat of an imminent default on the U. S. debt. The Asian markets were slightly down on Monday but within a normal days trading. Shanghai Composite was down 3%, but primarily in reaction | Read More »
Oops! We’re not going broke on August 2nd after all.
It seems as though Secretary Geitner and President Obama were wrong. The United States will not default on August 2 after all. The 80 million checks can be issued as planned. Armageddon has been postponed for 8 days. How did this happen? It seems that projecting government income and expenditures isn’t rocket science–it’s not science at all–it’s anybody’s guess. And Geitner guessed wrong by several | Read More »
A Television Box, Bernie Madoff & Regulation
Once upon a time not too long ago, a mother bought a new television set for her family. Upon bringing it home, she placed it on its stand still in the box, placed her toddler on the living room floor and went to the kitchen to start dinner. Her toddler, being the curious creatures toddlers tend to be, wandered over to the big box and | Read More »