Speculation Will Not Cure What Ails Us


It is time to dismantle the central bank conspiracy. In countering the cabal, Farrell urges the reading of William Greider’s July 15 essay,“Dismantling the Temple”. Greider provides an exposition of the Fed’s calamitous financial biases and regulatory deficiencies. Furthermore, he draws attention to the bipartisan idea that the U.S.

CEO Pay Cuts Inadequate, Sweeping Reform Needed


David Callaway is right: This nation needs more than grilled millionaire on the menu. While intelligent reforms to executive compensation are essential — sweeping reforms and not mere dabbling — we must do more than audit the menu. It is time to reform the discriminatory nature of the meal club as well. Compensation guidelines are not enough. We must alter the means by which investment rewards in public markets are acquired.

Short Covering to Drive Stock Prices Higher


Will the current bounce last? Will analysts keep setting the bar low to help stocks rise? Will beating bad numbers remain the game by which stocks are priced? The future level of stock market indices cannot be predicted because the calculations that will go into future market manipulations are yet unmade.

Asset Inflation as Economic Stimulus: The Fed Strategy


All right, not everything in today’s Farrell commentary is erudite or even proportional. Nevertheless, he does make some valuable points. It is apparent that America is setting up various disgruntled interests in the world to make war with us. The U.S. decision to monetize debts in the face of a deepening recession is problematic. Quantitative easing (as it is called) will expose our international friends, competitors and enemies to economic complications as our U.S.

DJIA 10,000: The Prospect of a Large "Transient Bull"


It is not without consequence that the Fed is creating massive amounts of money for the U.S. Treasury to leverage mega-investors and hedge funds back into financial markets on the long side. Many market observers claim Geithner’s plan will work. The question should be: 'Work to what ends?'

Appraising Risks to Growth: AIG Should Have Failed


The U.S. Congress ought to blush about the AIG situation as should Fed Chair Bernanke. The amount of money spent defending AIG’s bad bets is incredible. But there is something else at stake here. At issue is the question of whether the government knows what it is doing. People need evidence that the Fed and U.S. Treasury are operating a “best practices” recovery plan.

A Deeper Recession Better Than a Superficial Cure


The goal of sustainable ecology means little without a commitment to sustainable economics. In economics the biggest issue of sustainability ought to be the right-sizing of an economy. An unsustainable economy is one that booms through the provision of debt additions, the health of the capital markets themselves becoming conditioned on the speculative idea of growth. Our unsustainable economy will in a few years produce unsustainable environmental policies, both coalescing to put us in worse circumstances than we find ourselves now.

The Insolvency of Justice in American High Finance


President Obama has given the nation hope, but is it enough? Indignation remains widespread because Wall Street has failed its public trust and politicians have yet to find ways to counter outrages with real justice. “Heads need to roll,” proclaimed Moneycentral’s Jim Jubak recently, for if we fail to punish wrongdoers we are bound to repeat this disaster (“Why the CEO salary cap is a joke,” Feb. 10).

What Might Have Been: The Real Costs of Bailouts


If the economy is weakening should we do everything in our power to get it moving again? As explained in Rex Nutting’s Feb. 22 article, “No end in sight for recession” an unprecedented amount of fiscal and monetary stimulus is being injected. What is not explained is how this beckons unprecedented inflation, heavier taxation and further weakening of the U.S. dollar.

Rewarding Irresponsibility: The Fall of Financial Integrity


Who, if anyone, is surprised that Mr. Stanford’s chapter unfolds in Madoff-ite fashion, politics and all? Who, if anyone, does not expect bailouts and partisan subsidies to continue, with justice thrown to the wind as evidenced in the expanding mortgage subsidy affair?

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