Friday, May 28, 2010

Fitch Downgrades Spain's Debt

Instead of reducing leverage and allowing markets to work, the U.S. is clearly headed in the wrong direction.  Meanwhile, another euro-zone country is downgraded.

The Federal Reserve's Balance Sheet

The Fed's balance sheet shows no signs of abatement as Fannie and Freddie are supposedly "too complicated" to reform.

Saturday, May 22, 2010

State Legislative Salaries and State Insolvency

From Empire Center:

"A state-by-state breakdown shows New York lawmakers in 2007 were paid the third highest annual base salary at $79,500, according to the latest NCSL salary figures. Only lawmakers in California and Michigan were paid more."

From Zero Hedge:

"The states in most dire condition, are, not unexpectedly, the unholy trifecta of California ($6.9 billion borrowed), Michigan ($3.9 billion), and New York ($3.2 billion)."

Keep up the great work California, Michigan, and New York.

Wednesday, May 19, 2010

Financial Regulation

It is almost humorous that some believe the same group of people who created the majority of our current economic troubles are supposed to prevent a future crisis.  The federal government's feeble attempts to regulate the market will only create further, and more severe, issues in the future.  When the next crisis does unfold, there will always be those who are pathetic enough to blame the market for their own fiscal irresponsibility.

Sunday, May 16, 2010

Learning from Greece

States such as New York and California, as well as the U.S. as a whole, should be learning from the problems currently being dealt with in Greece.  Clearly the problem is not a lack of government involvement, but actually a lack of government responsibility.

The Heritage foundation's 2010 Index of Economic Freedom shows Greece ranked 73 out of 179.

Thursday, May 13, 2010

More of the Same

New York State Senator Eric Schneiderman is running for state Attorney General and not much is expected to change if he wins.

Schneiderman as AG and Cuomo as Governor will result in even more people leaving New York.

Saturday, May 8, 2010

Bloomberg Bias

An article from Bloomberg "news" states that Tea Party advocates who scorn socialism want a government job, however after reading the article, and the data referenced in the article, one can easily determine that the title of this article is a blatant lie.  Nowhere in the article, or the data, does it support the claim of the title.  The Bloomberg organization should stick with providing market data.

Meanwhile, Michael Bloomberg's comments on potential suspects in the attempted Times Square bombing further reiterates the importance of term limits.

Tuesday, May 4, 2010

Hyperinflation

For those who do not see the risk in the rapidly increasing U.S. National Debt, Edward Harrison of Credit Writedowns discusses the perils of hyperinflation.