American Madness

Intelligent Criticism in the Service of a Better Nation

Endogeous market euphoria presages collapse

“If only to confirm the socionomic causality at work, an economist quoted in the article above muses, “The one anomaly in the puzzle is that people shouldn’t be feeling better because the jobs market is so terrible and unemployment is likely to keep rising.” Of course it would be an anomaly, and people should not [...]

Cash for Gold

US To Trade Gold Reserves For Cash Through

Krugman takedown of the day

“Krugman is playing the standard disingenuous game of pretending that rising prices are inflation, rather than the result of inflation. The Fed has been expanding the money supply like crazy for decades by holding interest rates down, and faced with the latest bursting bubble, they decided to inflate some more, just as they did in [...]

The Santa Claus Economy

I could scarcely be more disgusted with the way the Obama administration is dealing with the largest economic crisis since the Great Depression.
Let us look at the facts soberly and simply:
1) A lot of people and organizations bet a lot of money on overvalued or extremely risky assets.
2) We do not make and export very [...]

Branding for the new economy

As I endlessly reword my Bernie Madoff story (surely the 8,756th of its kind written in the past month), I looked over at a folder on my desk labeled “Branding.” It refers to hedge fund branding, a feature story I planned to write six months ago in a different world.
How quaint it now seems. [...]

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