I saw this quote from Alan Greenspan and it made me smirk: Don’t use Fed as a ‘magical piggy bank’ He’s referring to the recent Federal spending splurge, bailouts, tax payer refunds, the housing bill… the list goes on. That giant sucking sound Ross Perot used to talk about is actually a giant crane sound [...]

If you’re looking for a movie this summer, here is one that you may want to see: I.O.U.S.A “One Nation. Under Stress. In Debt.”  I’ve only seen the trailer, so I can’t say how the movie is, but it certainly looks very interesting: Movie site: IOUSA

From Bloomberg this morning as stocks tumble: “This is a systemic financial crisis, there is no end to it,” Nouriel Roubini, professor of economics and international business at New York University, told Bloomberg Television. “It’s a vicious circle between a contracting economy and greater credit and financial losses feeding on the economy.” President Bush reminds [...]