Category Archives: economy

The Collapse of Free Market Capitalism

June 13, 2009 – 11:39 pm

Two years ago I was sitting in the Phnom Penh Airport. My traveling comrade was drinking beer. Chang 7-11% alcohol. He’s English. I waited for our flight to Bangkok at the gate. Two men sat behind me. One was European. The other American. They were arguing about capitalism. “There is only one form of capitalism […]

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Dow Jones 6000

May 7, 2009 – 12:02 pm

The US economy in March 2009 was in dire straits. Banks were on the verge of failure and the stock market was losing points every day. The wars in Afghanistan and Iraq remained drains on the treasury and the GOP was vowing to battle any programs by the newly elected government. doom seemed certain and […]

By Peter | Also posted in america | Comments (0)

Balls

March 20, 2009 – 9:21 pm

Americans are outraged that AIG issued $165 million in bonuses to their top executives. This money came from the bailout to the beleaguered insurance giant. Congress responded to the rage with kneejerk legislation aimed at retrieving the money by taxing the corporate fats cats 90%. This without any review as to who got what and […]

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Dow Jones Euphoria

March 12, 2009 – 5:10 pm

After hitting my March target of 6500 the Dow Jones rallied over the past two days thanks to reports of unexpected CitiBank profits and an announcement that the Federal Government might not seek tighter accounting regulations from the banks. Heartened by the possibility for the resumption of voodoo economic tactics, brokers yahooed their customers into […]

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Quote of the Quote

March 4, 2009 – 5:26 pm

“Gentleman, you have come sixty days too late. The depression is over.” – Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930 The Dow Jones tanked for another two years after this proclamation. But he never thought he was wrong about letting the Free Market run […]

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