An “Independent” Congress
By Barry Ritholtz - October 11th, 2009, 7:30AM
Source: Clay Bennett, Chattanooga Times Free Press
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
read more »
The Big Picture is proudly powered by
WordPress
Entries (RSS) and Comments (RSS).
Entries (RSS) and Comments (RSS).
October 11th, 2009 at 12:37 pm
Funny.
And I read the classic line regarding Obama’s prize today. This is too good:
All this guy has done is give a few speeches promising almost everything to everyone.
Backed up nothing with actions yet, and is unlikely to.
The Nobel Speech Prize.
October 11th, 2009 at 12:47 pm
Like I always said about the television show Baywatch: Out of the mouth of babes…
October 11th, 2009 at 1:53 pm
Our politicians are so craven that America is now basically a crisis driven country. It takes unprecedented failure to even get the politicians to think about reforming policy that is bad on its face. And then they still may not do anything. So we lurch from bubble to bubble, crisis to crisis, hoping that we won’t ever run into a crisis that buries us before we have time to respond. This is no way to run a country. Our only hope is that the Europeans, Chinese, etc. basically force America to stop acting like a spoiled teenage girl with Daddy’s credit card.
October 11th, 2009 at 2:39 pm
Though Mauldin doesn’t think so I think that day of reckoning is closer than American leaders think. Already the Fed is financing almost, if not all, new debt financing emanating from the government’s checkbook. How long can that go on before someone call out about the Emperor’s new clothes?
October 12th, 2009 at 12:13 am
“Though Mauldin doesn’t think so…”
Glad someone else noticed that. John is a great analyst, but when comes the time to integrate social considerations into his thinking, he falls woefully short.
His political beliefs are also creeping into his writings a tad more than dispassionate and lucid analysis requires.
October 12th, 2009 at 1:20 am
=== popurls.com === popular today…
yeah! this story has entered the popular today section on popurls.com…