It’s still possible that this “R” word will not turn into the “D” word but in parts of the world it is a depression already. The quarterly economic output numbers are in. In our Great Depression GDP fell 6+ percent in 1931. In Korea last quarter it was down 22%. In Japan 12%. In GermanyContinue reading “Depression”


Nationalize the Banks or Charge into the Valley of Death!

I had a pleasant month out of the country working on my old sailboat and while things were bad when I left, the last week or so has the US economy in free fall led by the same old suspects, the banks. While I was away I read David McCullough’s “John Adams”, a fascinating historyContinue reading “Nationalize the Banks or Charge into the Valley of Death!”