State & Lake

According to Peter Schiff, we’re on the “eve of financial Armageddon.”  Yes, that’s what he said during an interview with Lew Rockwell on the Lew Rockwell show but that was not all he said.
Both Swedish economist Stefan Karlsson and Peter Schiff believe the government has set itself up to swell this unfortunate bailout to well [...]

I know, that title is a bit alarming but it’s true.  Tonight, I tried my best to think of a good way to explain how money exchanges hands and then I found the following video which is the best two hours one can spend learning something about economics. My dilemma was trying to find a [...]

I have not been very interested in blogging lately.  Actually, I have been doing a lot of talking and on some level that’s a good thing.  What have I been talking about?  This bailout.
Quite frankly, I have mixed feelings about this and I know others do as well.  On one hand, there is the fear [...]

Reading a lot of financial articles today and it seems Jonathan Weil over at Bloomberg was able to get his brain around the scam — I mean scheme — in this bail out proposal.
The plan goes like this: Treasury will pay financial institutions above-market prices for garbage assets nobody else wants. Then, through the magic [...]

Rep. Kaptur (D-Ohio) delivers a beautiful and effective speech.

I just read The Diversity Recession, or How Affirmative Action Helped Cause the Housing Crisis and though I’m not inclined to believe Affirmative Action caused the housing crisis, I do agree with some parts of this article.
Something experienced by most who are low-income, poor or members of a minority group are predators.  Whenever there is [...]

With a capital “R”.  Technically, recession takes place during a period of general economic decline; specifically, a decline in Gross Domestic Product (GDP) for two or more consecutive quarters.  Last quarter we showed growth of one percent.  On Thursday, analysts believe the economy could come in at an annualized 2 per cent.  Technically this would [...]