I could be in Toronto by dinnertime. Alternatively golf in Myrtle Beach sounds nice.
We like “green” energy. The water in my childhood home in the 80s was heated by solar panels. We like wind, and the rest. But we like it within the market.
Green energy can exist within the market despite what many people believe. In a world of 6 billion people and growing there is absolutely a market for cleaner energy sources. In many parts of the world solar particularly makes sense on micro levels. Lives can be made better with solar.
It is no small thing when one of the world’s great stock markets loses 1/20 of its value in a day. It happens though.
How nice for him.
Geithner speaking at the Center for American Progress. No doubt discussing the ins and outs of private equity economics.
Animal spirits in the Year of the Monkey?
Most of our readers will probably agree with this statement. Let’s face it, the “jobs number” is arguably the most politically massaged economic number there is. There have long been questions about its validity but now with the rate at an extremely low 4.9% the number just feels absurd.
Well, it seems the former president of Mexico doesn’t much care for Donald Trump’s idea. I just figured that Trump was buddies with one of the crony allstars Carlos Slim, the Mexican concrete magnate, and they had a deal ready to go. But maybe not.
For a pro-free enterprise site we are pretty nice to Bernie Sanders. We respect the dogfight he’s in right now and he’s an interesting guy. But…Well, we’ll let Tom address some of the issues.
If you comment on this one please watch the entire video.
The universe has patterns. Either go with the flow or pay later. Looks like we are “paying later.”
A serious recession would be terribly trying particularly in light of the geopolitical jockeying going on right now. Acute financial pressure, and it is already acute in some parts of the world, makes for instability. Leaders do stupid things when countries are in economic pain.
But don’t worry the official unemployment rate is 4.9% so everything is cool. No problems. None.
He should, and in this very narrow statement Sanders is almost correct. What Sanders does not mention however is that the reason Goldman Sachs acted the way it did, indeed why it COULD act the way it did in the lead up to 2008 was because its “greed” was facilitated by the Federal Reserve. The central planners wanted Goldman Sachs and the other banks to leverage themselves out. This was the goal. The Great Recession was created by the Federal Reserve,
Goldman was President Obama’s number 1 private contributor in the 2008 election.
Goldman should be dead. Door knob. A chapter in American finance history, but a chapter about the past. It should no longer exist. It is not an example of American capitalism. It is crony capitalism at its worst. It is a bailout bank. It took from you because of its mistakes and “profited” with ill gotten funds. You kept Goldman Sachs alive. The government gave you no other choice.
Just – right – on – center.
Crony capitalism is a form of socialism and socialism is a dead end. It makes people poor and it is morally bankrupt.
That isn’t to say that opposing the current order isn’t a good thing. It is. But we live under too much socialism as it is. Free the market. Have a better life.
Central banks don’t like cash, particularly when they want to impose negative interest rates on a failing global economy. (If banks were to offer negative rates cash would provide a yield and as such few would put money in the bank. The central bankers are very afraid of this scenario because it takes control away from them.) Central governmental authorities don’t like cash either because they can’t track each and every transaction for tax purposes if people do business in cash.
It wants to see via a “stress test” of banks. But even with the Fed raising a quarter point recently, so called liftoff, the general trend globally is in the opposite direction. Japan just moved to negative rates. There are smatterings of negative rates to be found throughout Europe. Canada is playing with the idea of negative rates.
Crony capitalism is a concept with which the typical informed American voter is now familiar. We are very proud of our contribution to this awakening and it is gratifying to see candidates of all stripes having to defend their current crony arrangements with donors, past crony deals, or alternatively to see them go on the attack against cronyism. That Cruz won the Iowa Caucuses despite an explicitly anti-ethanol subsidy stance is no small feat.