The real Achilles heel is that banks lend long and borrow short. In other words, they fund long-term loans with checking account deposits and 90-day loans. These funding sources can evaporate overnight, as Bear Stearns found out. This imbalance in asset/liability management has killed countless banks throughout history. James Turk on Citibank’s fight for survival. [...]

And…so? Another meaningless Bushism as the dollar continues its descent.

Toyota leaves a large carbon footprint in its production of each Prius.

Las Vegas has had its share of bad press lately. As the economy tanks, developers in Vegas continue to build and build and build. The press is reporting that casino business is down. Last time I was there I saw a massive construction site for City Center/Cosmopolitan Resort & Casino. It turns out that Deutsche [...]

Nobody ever reads his blog except for his assortment of his pseudo-intellectual buddies. But recently, he attracted a few watchers to start looking at his blog – like those cruising for car wrecks – because of the perpetual acts of insanity taking place. He started attacking me in recent months, time and time again. Lew [...]

Because without it we wouldn’t have all of these great medical advances.

Recently, Bloomberg economist Tom Keene was on air being interviewed by someone, and he was asked this question (paraphrase): “So look at commodities, gold….is the gold price up because the dollar is down, or is the dollar down because the gold price is up?” Keene’s reply went something like this: “Oh, that needs math to [...]

“In any moment of decision the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.” “I believe in nationalism as the absolute prerequisite to internationalism. I believe in patriotism as the absolute prerequisite to the larger Americanism. I [...]

I was shocked to see the blog headlines tonight: Kenneth R. Gregg died this past Friday. I had only corresponded with Ken a few times, and the last time I wrote him I never heard back. Then I noted that his blog was no longer active. I never understood why, but apparently, he had been [...]

I find this barbed article linked on LRC to be funny and precise. It’s truly amusing to see what people are doing to their bodies in the name of “individuality” as they exercise their right to follow a puerile fad like thousands before them. The hilarious “stock tip” to invest in tattoo-removal technology now is [...]