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2000 - 2009 The Decade of Deception!
Reflecting back on the past 10 years, one cannot help but be amazed at the changes that have taken place in the investment world. So many principles have been challenged and attacked that one must be careful to remain focused on what actually has happened and what the consequences of these changes will be.... more
Over the Long Run We're All Dead!
There really should not be much debate about the idea of institutions being too big to fail. The fact that the major banks and investment banks in this country (and now around the world as well) have proven so inept at managing risk, should preclude them from being propped up via taxpayer money.... more
"Theoretically Speaking," "Everything is just fine!"
it is one thing to hope for the best. It is entirely another to expect things to happen which are demonstrably impossible. Do you really think, for example, that the amount of debt that is now the responsibility of the taxpayers, the volume of which has been increased dramatically over the last year, can really be paid off? According to the most reliable estimates, total debt (including unfunded promises and liabilities) now amounts to approximately one million dollars per household in the U.S.! Does anyone really think such a sum can be repaid?... more