I'm not usually a fan of Martin Feldstein, but I do appreciate this article he's written. He has very succinctly explained why saving money is now the new black in the US, even if it's not the best thing for our current economic situation. He also brings up some points that raise new questions for me. He talks about needing to borrow more money from places like China to finance new housing construction. I want to know why we need to have an economy based on building houses?

My current economic theory, recognizing that I'm one of your bigger econodummies, is this:

Over-production has been satisfying swollen demand fueled by debt.

Hello Everyone:

The best analogy of a taxpayer bailout that I can think of is that it should be like an operation to fix the problem. A bailout in my opinion should NOT be like a painkiller such as a Vicodin pill which only numbs the pain temporarily, does not fix the problem if it cannot be fixed, and just prolongs the inevitable.

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Sing it sister.

ALL OF THEM MUST GO

This is bloody brilliant.....

An open letter to the Western banking establishment

Re. your unauthorised overdraft

Dear Western banking establishment,

It's Monday Jan 26, 2009, and I've gotten started on the content for this new blog. If you have some insight into how best to get the blog going in a respectable way that many Clarkies and The Old Man himself will get involved, PLEASE within the next 48 hours, get in touch with me. You can send a private notification through clicking on my CCN member name, but I trust you guys and I'm going to share my own email addy, also:

.

How many times have we heard in the last few weeks, “It’s too big to fail”?  It occurs to me that if it’s too big to fail, it may just be too big.  That is, if the enterprise touches so many pieces of the economy and people, its very bigness could be part of the problem.

We’ve seen it now with AIG, Lehman, Wachovia, and now The Citi Group, among others, not to mention Fannie and Freddy. 

Link.

November 22, 2008

Wind energy industry in good position

Clark speaks about opportunities for growth

Denise Goolsby
The Desert Sun

The shifting political landscape is good news for the wind energy industry, retired Gen. Wesley Clark said during a national wind energy conference in Palm Desert on Friday.