Archive for September, 2009

U.S. to experience economic collapse similar to Argentina?

9 September 2009 by Christopher Suleske

Economists Charles Rowley of George Mason University (my alma mater) and Nathanael Smith of the Locke Institute have written a piece entitled “Adam Smith would not be optimistic in today’s economic world“. Edmund Conway summarizes it thusly:
Although the authors support the Federal Reserve’s moves to slash interest rates to just above zero and embark [...]

“You get rich by saving and investing”

9 September 2009 by Christopher Suleske

WRITES the sane (what passes for sage these days) Bill Bonner:
Two generations of American economists thought the way to bring prosperity was to encourage consumption. On the face of it, the idea is absurd. Classical economists…and Daily Reckoning commentators…laugh at the idea. You don’t really get rich by consuming; you get rich by saving and [...]

Here we go again

9 September 2009 by Christopher Suleske

APPARENTLY not having learned a lesson, and searching for a new income stream, Wall Street is crafting yet another class of derivatives, this one particularly morbid. Writes Ian Mathias:
Since it worked so well the first time around, Wall Street has spawned a new age of securitization — instead of mortgages, this time it’s life [...]

Public finances put into personal terms

2 September 2009 by Christopher Suleske

These findings underscore the importance of beginning the learning process as early as possible. Indeed, in many respects, improving basic financial education at the elementary and secondary school level is essential to providing a foundation for financial literacy that can help prevent younger people from making poor financial decisions that can take years to overcome. [...]