As usual, there are some juicy articles to read this weekened. The theme this week doesn;t stray too far from the banking industry and current monetary policy. I don't know about you, but it gets my blood boiling. I have written and phoned congressional reps twice this week. How about you. The letter is in the right hand column, and contact info for your reps is right above it. If you're so inclined.
Fubsy
Bill Fleckensein, MSN Money Central: Obama team ignores Volcker at its peril.
http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/obama-team-ignores-volcker-at-its-peril.aspx?OCID=eml_msnnl_6004.14.2.14&REFCD=emmsnnl_6004.14.2.14
There are very few things I like about the Federal Reserve, but Paul Volcker is one of them. In the 80s he took a very unpopular route toward raising interest rates in the face of runaway inflation to curb America’s runaway spending binge, and bring the economy into balance. It paid off, and largely due to his unpopular frugality the U.S. had a solid foundation from which it was able to enter a twenty year cycle of prosperity. Read on.
Mish Shedlock, Global Economic Trend Analysis: Janet Tavakoli on Financial Meth Labs
http://globaleconomicanalysis.blogspot.com/2009/11/janet-tavakoli-on-financial-meth-labs.html
Astute, straight shooting commentary on government and federal reserve response to the credit crisis.
Steve Seville, 321Gold: Bank Reserves and Inflation
http://www.321gold.com/editorials/saville/saville110309.html
Interesting chart and sensible article. I posted it because the numbers are staggering.
Yves Smith, Naked Capitalism: Trouble Ahead: Can the Right Seize the Banking Reform Issue in 2010?
http://www.nakedcapitalism.com/2009/11/trouble-ahead-can-the-right-seize-the-banking-reform-issue-in-2010.html
This captures the importance of the issue of financial reform and projects some outcomes of the misguided attempts to avoid the hard, but effective solutions.
Ron Paul, Forbes.com: Be Prepared for the Worst
http://www.forbes.com/forbes/2009/1116/opinions-great-depression-economy-on-my-mind.html
I wish Ron Paul presented less like a whack job, because I think he was the best presidential candidate to actually reform the financial system, which in my opinion is the cornerstone to the health of our future. Unlike Obama who touts change and supports the status quo, Paul actually walks the walk. He’s just so damn kooky.
John Browne, 321Gold: Boeasting of Glory
http://www.321gold.com/editorials/browne/browne110509.html
commentary on the government and media glee over the end of the recession. What are the drivers behind our economies tepid, and fragile growth? And why should we be skeptical?
Floyd Norris, The Big Picture: The Worst Idea of 2009
http://www.321gold.com/editorials/browne/browne110509.html
Not sure I agree with the title as there have been so many bad ideas in 2009, but I would likely put this one in top 20 if I had them all before me. This is one of many infuriating instances of disregard of duty to taxpayers by a bank (In this case Goldman Sachs, the king of the bullies) who would not exist if not for taxpayer bailouts. I’m tempted to drop an F-Bomb Here.
Mark Dowie, Whiskey and Gunpowder:Urban Farming In Detroit and Big Cities….
http://whiskeyandgunpowder.com/urban-farming-in-detroit-and-big-cities-back-to-small-towns-and-agriculture
Perhaps a positive paradigm shift in the making toward more localized economies. Any Mo-Town entrepreneurial green thumbs out there? Kid Rock...Kid Rock, anyone, Kid Rock, anyone?
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