Kernen laments the incompetence of fact checkers and calls Krugman a Communist.
As I have told you before, I watch CNBC in the morning because I know about as much about politics as most of the guests on the morning cable news programs who talk about politics, but I know nearly nothing about finance so I watch the guests on CNBC who talk about finance.
Alchemists were enlisted to find the magic formula for something out of nothing. The alchemists of the past have nothing over the U.S. bankers of today.
Rep. Paul Ryan gives the plan a thumbs-up. Supply-side mentor Art Laffer tells me it would be "far, far better than the current system." And Chris Chocola, president of the free-market Club for Growth, calls it "a truly revolutionary tax reform that would amount to a massive job-creating tax cut on investments, savings and income."
For those of you who have been following my guidelines with your hedges, now that we’ve seen this move in the S&P it’s time to roll your position back up. Just like you rolled down your protection and took money off the table when we saw that big break—taking advantage of the volatility and what I call that explosion spread—now is the time to roll it up. Active management of your hedge is the key.
President Obama should come in from the campaign trail to reach out and call upon the best economic minds in the nation to come to Washington and figure out that the "policy response" from his government should be. He should form an Economic War Cabinet.
You want a quick and easy introduction to media bias? Just look at the reception given to author Ron Suskind when he appeared on NBC's "Today" show recently to promote his new book, "Confidence Men," which is critical of President Obama -- and then compare it to the reception Suskind received in 2004 when he appeared on "Today" to tout another book, "The Price of Loyalty," which was critical of President George W. Bush.
I live in Chicago. It’s home of machine politics. Politicians of course will tell you there is no machine but they are full of Obama stimulus. Normal Chicagoans that try to do business in the city will quote you chapter and verse stories of graft and payola. Chicagoans know how the machine works.
Pressure is building on President Barack Obama to call for an extension of the so-called payroll tax holiday. Keeping it in place, say the people who favor the idea, brings some kind of needed economic stimulus... In reality it’s a dangerous idea, almost certainly doing more harm than good.
Whether it’s by bond, bailout or bankruptcy, stability will return to Europe. And as that creeps into the market mentality more and more, we can finally start to focus on fundamentals again.
My first reaction was to call Vinny McLaughlin and Denny DeCore, who were at the Nomura offices across the street from the WTC, at the world Financial Center. I asked them if they could see what was happening and if they were safe.
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