In April the Federal Reserve Bank of San Francisco released a report showing that the overall net worth and value of financial assets had completely recovered from the financial collapse of 2008-2009. Since the low point of the recession in early 2009 the net worth of Americans has increased by a massive $14.7 trillion and […]
If You’re Feeling Poorer That’s Because You Are – Net Worth Plunges For Average American
May 30, 2013 1 Comment
Economic Enigma – High Unemployment, Low Incomes and Record Stock Prices
March 7, 2013 Leave a Comment
The stock market has been in recovery mode since early 2009 with stock prices more than doubling as the Dow Jones surges past 14,000. Americans have regained a substantial portion of the wealth that vanished during the initial years of the financial crisis. A good portion of the increase of household net worth was based […]
Americans Dump Stocks As Market Soars – Are Long Term Investors Extinct?
January 11, 2013 Leave a Comment
Investing in stocks used to be an affirmation of faith in the American system of free enterprise and a method to build personal wealth. How many stories have you heard about the secretary at McDonalds or Merck or another great American company who retired as a millionaire after buying shares in the company over many […]
So How’s That “Social Media” Thing Working Out? Facebook and Groupon Investors Get Scorched!
August 15, 2012 Leave a Comment
Two of the most hyped social media stocks of the decade have bombed big time – and it’s not just small investors getting crushed this time. Many large sophisticated investors got their faces ripped off on the Facebook IPO including banking giant UBS that tallied up losses of a whopping $350 million. Faring equally poor, […]
Obama’s Speech On Financial Crisis Will Plunge Us Into Depression
August 8, 2011 Leave a Comment
Crippling debt and deficits have lead the global economy to the precipice. Finances of world governments since the financial crisis have dramatically deteriorated and confidence in paper money has reached a new low. Equity markets are crashing while gold (the barometer of trust in paper money) soars. As we stare into the abyss, President Obama […]
Obama’s Wierd Philosophy On Business Is Killing Job Growth
August 5, 2011 Leave a Comment
It’s a routine event to be excoriated by your enemies – you laugh it off and consider the source. When harsh criticism comes from your friends, however, it should be a wake up call to reassess positions. Barrick Obama’s wake up call came when Steve Wynn, CEO of Wynn Resorts recently let loose some very […]
The Fallacy of Government Running Businesses
June 1, 2009 Leave a Comment
Business Discovers Drawbacks to Government Aid The banking industry, the insurance industry and finally the auto industry have taken their turn with government money controlled by the Obama administration under the premise that they were all too big to fail. The bankers and insurance executives are finding out how difficult it is to return the TARP money, […]
Why Losers Prefer Socialism
May 18, 2009 1 Comment
A recent poll of Americans under 30 revealed that one third expressed a preference for socialism. The educational and income characteristics of those polled was not detailed so like every poll, the results can be interpreted differently. I suspect, however, that those polled construed the meaning of socialism to be “sharing the wealth, regardless of […]
From The Archives – Sound Familiar?
May 8, 2009 Leave a Comment
For some historical perspective on our current problems. Chicago Tribune – 1934 Courtesy: bp.blogspot.com