This blog entry speaks for itself.[1] Enjoy.
Elmo Tries to Explain The National Debt (Again)
Muppets have received a lot of bad press since Greg Smith realized that he is not, in fact, a one-percenter. Fortunately Elmo’s back to reclaim his rightful place in the financial world: Making the seemingly incomprehensible comprehensible while politely pointing out what should be obvious to everyone not in diapers. That’s not so easy when the economic views espoused by everyone from central bankers to TV talking heads can only be accurately described as infantile. Continue reading →
The State of Illiniois’ teacher pension program is an extreme example of the pension underfunding problems facing many of the nation’s pension systems, but it’s not an isolated example of the problem. According to an article recently published on Bloomberg, the Illinois teacher’s pension had investment returns of over 20% last year and still only made up a small part of its pension funding deficit. This is an excerpt from the article[1] (emphasis added): Continue reading →
I have long contended that gold will eventaully be viewed as an alternate currency to the fiat currencies now being used around the world as a means of commerce. I believe that the first evidence of this has already emerged, with gold prices decoupling from the prices of other precious metals. Now, an article in “The Telegraph” may confirm that this is indeeed the case. Seems that exports of non-monetary gold from Italy to Switzerland are increasing rapidly. This is an excerpt from the article[1] (emphasis added): Continue reading →
In spite of earlier statements to the contrary, the International Monetary Fund is now stating that a Euro breakup is possible, a conclusion that would be reached by any reasonable person who examined the facts. This from the article[1] (emphasis added): Continue reading →
A recent article in “Business Insider” ran a story outlining the conclusion that economist Joe Stiglitz has reached regarding the gloabal financial system. It’s not pretty. Here is a bit from the article[1] (emphasis added): Continue reading →
