Run! Run! The Banks Are Falling!
Been following bank stocks lately?
If so you probably don’t have much time to read this post since you’re either preparing for Armageddon and stocking up on canned beans and bullets or nursing that extreme case of whiplash you’ve picked up by watching these prices gyrate for the past week (ice helps; bullets are expensive as hell these days).
Since the Securities and Exchange Commission (SEC) is putting the smack down on folks [1] (you think they’ll fine Senator Schumer for not just writing a letter of concern to the Office of Thrift Supervision about IndyMac but then leaking the damn thing to the press to really get this party started?),[2] I’m not going to mention any other company names in this post. Read more
Fannie Mae and Freddie Mac: it all comes down to you.
I’m sure you’ve heard about the trouble at the two government sponsored mortgage giants and the government’s plan to help.
While there are many implications of recent events for individuals I want to make one point: if you have faith in the government’s plan to help out Fannie and Freddie you really have faith in yourself. Read more
What are economic value and capital?
Value is the material result of ideas applied to physical reality to yield a good or service that enhances human life.
For example, if three people are on a deserted island, the person who decides to collect materials to build a shelter and does it has created economic value. Read more
Should everyone be required to have a gun?
A couple of days prior to the Supreme Court’s recent ruling confirming the individual’s right to bear arms[1] I received the following e-mail from a reader with the subject line “Guns and why they are a necessary evil in America”:
“Just an idea for you to think about. Without guns, we wouldn’t be where we are today. If everyone was armed and you KNEW they were armed, would crime rates decrease? I say yes. Criminals are usually opportunistic and prey on people unable to defend themselves, either through weakness or by virtue of being unarmed. Guns are a great equalizer: they make women equal to men. Anyone, even a child could keep their house secure by being able to shoot someone trying to break in. Just a thought. I am pro-gun and could go on for days as to why everyone should have at least one if not two guns to DETER crime. Have a great day!” Read more