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Ineluctable Truths
Aiy! We arrived in London this morning, greeted by a dark sky, rain, and wind. Ah, the summer…we hardly knew ye…
What a delightful summer it was! (More below…)
The weather never actually turned summery – until the last two days – but it was still a marvelous respite from the workaday world of September-July.
We went back to the workaday world yesterday – taking the train up to Paris for an editorial meeting with our new French financial magazine. We are taking a risk with the publication – giving it an English title: MoneyWeek. French may be the language of Proust, but…
3Sep2008 | Daily Reckoning | Comments Off | ContinuedObama and McCain Shift Focus to U.S. Economy
Now that presidential hopeful Barack Obama has returned from a tour of the Middle East and Europe, he and his Republican rival, John McCain, are squaring off on the status of the U.S. economy, which has become the most pervasive domestic issue in the 2008 campaign.
Obama met with a panel of advisers yesterday (Monday) to discuss possible remedies for the sputtering U.S. economy. That panel included such eminent figures as billionaire Warren Buffett, Paul Volcker, and former Clinton advisor Robert Rubin.
“People are understandably concerned about the economy, and that’s what we will be talking about for the duration,†Obama…
29Jul2008 | Money Morning | Comments Off | ContinuedThe intellectually barren offshore drilling debate
At least one of Matt Simmons’s forecasts is not yet bearing fruit — his 2006 prediction that Peak Oil would come to dominate the 2008 campaign. For the debate over offshore drilling that’s erupted this week has shed absolutely no light on the real issues.
For starters, there’s a highly disingenuous calculus behind the flip-flops of John McCain and Florida Governor Charlie Crist, who now favor offshore drilling: They’re sending a message, implicit but unmistakable [Update: Actually, it's completely explicit] , that allowing more offshore drilling will somehow put a voter’s Labor Day getaway this year, heretofore unaffordable, within reach. It will, of…
23Jun2008 | Desidooru Saloon | Comments Off | ContinuedElection 2008: The Achilles’ Heel of Obamanomics
Presidential hopeful, Barack Obama, recently told The Wall Street Journal that he intended to lift the United States out of recession through a burst of government spending on infrastructure and a venture capital fund for the new energy sector.
Obama has made few economic mistakes in his campaign – he avoided the economically counterproductive proposal to cut petrol taxes between Memorial Day and Labor Day backed by both John McCain and Hillary Clinton – but he has shown his Achilles’ heel with this proposal. There may be many reasons to increase government spending, to better defend America or to introduce a more generous…
19Jun2008 | Money Morning | Comments Off | ContinuedA NATIONAL POLITICAL BROWNOUT, PART I
Although I don’t always agree with the views of columnist Thomas Friedman, I couldn’t agree more with his criticism of US energy policies. In a recent article entitled “The energy to be serious”, he takes Hillary Clinton and John McCain to task for their suggestion that the federal excise tax on gasoline be suspended this summer
According to Friedman, “It is great to see that we Americans finally have some national unity on energy policy. Unfortunately, the unifying idea is so ridiculous, so unworthy of the people aspiring to lead the United States, it takes your breath away.
“Hillary Clinton has decided to line…
12Jun2008 | Daily Reckoning | Comments Off | ContinuedMcCain’s slip
“I’m a proud, conservative, liberal Republi- Hello! Easy there,†McCain said, laughing along with his audience at Texas Instruments Inc.
29Feb2008 | Anonymous | Comments Off | Continued
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