Archive for September, 2008

Wall Street Cheers Government Socialism

Thursday, September 18, 2008 18:49 Comments Off

Here comes the rolling tide of intervention on a massive scale. Just days – or even hours – away from certain implosion, the central planners game up the stock market on a promise that will have all the beggars and leeches waiting in line impatiently, all night long. U.S. stocks rallied the most in six [...]

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Some Financial News Snippets and … Absolute Insanity from a Wealthy Socialist

Thursday, September 18, 2008 18:48 Comments Off

Putnam closed its Prime Money-Market Fund. Putnam Investments LLC closed its $12.3 billion institutional Putnam Prime Money Market Fund yesterday and plans to return all cash to investors. The fund, which was valued yesterday at $1 a share, experienced “significant redemption pressure,” the Boston-based company said in a statement. In other news, Bloomberg just reported [...]

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Run on WAMU Bank in Oregon

Thursday, September 18, 2008 18:35 Comments Off

A source calls me to say that people are lined up outside a Wamu bank in Lake Oswego, Oregon this morning. A Portland news station is there, but so far, no news on the web. A TV reporter was going around asking frantic people, who are afraid of losing all their money, “What about the [...]

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Norman Whitfield, RIP

Wednesday, September 17, 2008 21:38 Comments Off

The great Motown producer-songwriter, Norman Whitfield, passed away. “Norman Whitfield was one of the most prolific songwriters and record producers of our time,” fellow Motown veteran Smokey Robinson said in a statement Wednesday. “He will live forever through his great music.” Whitfield wrote, usually with Barrett Strong, and produced such era-defining hits as “Grapevine,” “Ain’t [...]

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Nationalized International Group Inc. (NIG)

Wednesday, September 17, 2008 6:35 Comments Off

The Federal Reserve will provide a two-year loan, take 79.9 percent of the New York-based company’s stock and replace its management because “a disorderly failure of AIG could add to already significant levels of financial market fragility,’” according to a statement by the central bank late yesterday. It’s reassuring to know that the Feds will [...]

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An Unusual Backdrop

Tuesday, September 16, 2008 20:58 Comments Off

This is a photo of my friend Sheryl, as we had breakfast in a bar in Southeast Ohio one Sunday. Believe me, the backdrop was not planned.

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Even Money Markets Aren’t Always Safe

Tuesday, September 16, 2008 20:23 Comments Off

As of 4pm EST today, the Reserve Primary Fund revalued its Lehman holdings as worthless, causing its net assets to fall below $1 a share and exposing its investors to a loss.

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Fannie and GM

Tuesday, September 16, 2008 10:42 Comments Off

Since the time is (still) ripe, I’ll give a heads-up to a couple of slightly-dated articles co-written with Eric Englund. General Motors and the Intellectual and Moral Bankruptcy of Wall Street Fannie Mae: Another New Deal Monstrosity I’m very pleased that both of these articles are still getting much, much airplay around the ‘Net.

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Forget the Leading Economic Indicators

Tuesday, September 16, 2008 10:15 Comments Off

And all of the government’s other mumbo jumbo. Along with the whirlwind of financial tsunamis (a favorite MSM word), America’s favorite store, Best Buy, is a great indicator of where consumers are headed concerning their spending patterns. Despite the spin on the company’s financial performance, Best Buy stores – ones in my area that have [...]

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Art DeVaney, Paleolithic Diet, Fasting, and Functional Fitness

Monday, September 15, 2008 6:06 Comments Off

“Pasta is a bowl of sugar, briefly deferred.” A excellent introduction to evolutionary fitness, the paleolithic diet, fighting the sugary seductions of modern life, and the heroic Art DeVaney, whom I have linked here on many occasions. This article asks, “Is functional exercise better than the gym?” Generally speaking, what people are doing in the [...]

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