Monty Pelerin's World

Economics, Finance and Politics Through The Prism of Classical Liberalism

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Jimmy Stewart Wouldn’t Run These Banks
By Monty Pelerin , posted December 3rd, 2009 Frank Capra’s George Bailey of Bailey Savings and Loan would surely not recognize our banking system or its accounting. However...
Enron was an Ethical Angel compared to our Government
Fannie Mae reports third quarter loss of $18.9 billion and requests another $15 billion in taxpayer funds. Another government enterprise comes back to the well for more, with no end in sight. Bloomberg has a summary of the results here . FNM was the organization...
Train Wreck on the Way
There is little doubt in my mind that we are heading for a train wreck. The timing and catalyst that trigger this reaction are much more difficult to determine. The potential catalysts are many, any one of which would trigger the wreck. A dollar crisis...