More Evidence This Is a Debt Problem

I’ve been arguing for some time now that the current economic mess we find ourselves in resulted from too much debt, a problem that cannot be solved long-term by creating more debt.

This week, in his “Thoughts from the Frontline” newsletter, John Mauldin had two guest writers ‘pinch hit’ for him. Both to some degree made this same case. Tony and Rob Boeckh (a father and son team) are both economists and had some very interesting comments to make regarding the current economy, how we got here, and where we’re going from here. Read more »

Cash For Clunkers – A Success?

Last week, Congress began debate to determine if additional funds should be allocated to the “Cash for Clunkers” program to the tune of another $2 billion. Originally funded for $1 billion, the program is already out of money even though original projections had the program fully funded through November 1, 2009. The debate began after some members of congress reported the program was out of money due to excess demand. The program provides up to $4,500 in incentives to car buyers who qualify. Read more »