Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

December 9, 2008

Oil — Where Is It Going? Up, Up And Away!

Last week, I posted about my belief that oil has currently dropped to a price level that is damaging to the long-term stability of the oil market, and that while it seems wonderful right now, it won’t last. Today we find a bit of evidence that may only support this point: The $25 low-end estimate […]

Posted By: Brad Warbiany @ 1:57 pm || Permalink || Comments (4) || TrackBack URI || Categories: Credit Crisis,Economics,Energy Policy,Monetary Issues
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December 2, 2008

Bailout, In Spreadsheet Form!

Lance over at QandO posted this, and it really puts the scope of the thing into perspective when you have it in line-item form: Just where is all this money going to come from, anyway?

Posted By: Brad Warbiany @ 11:19 pm || Permalink || Comments (3) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues
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December 1, 2008

Oil Is Too Cheap

No, not for the reason these guys think: Venezuela will back repeated cuts in OPEC oil production until prices stabilize, Oil Minister Rafael Ramirez says, and Russia is proposing closer cooperation with the oil cartel. Ramirez said Wednesday that his country will back a proposed 1 million barrel per day cut when OPEC meets Saturday […]

Posted By: Brad Warbiany @ 12:11 pm || Permalink || Comments (7) || TrackBack URI || Categories: Credit Crisis,Economics,Energy Policy,Free Trade,Monetary Issues
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November 21, 2008

Financial Armageddon Follow-Up

Back in March of 2007, I posted this: So here’s what I see. The slowdown in the subprime mortgage and building industries will increasingly push the default and foreclosure rate up. As a result, the mortgage-backed securities market and other housing-based stocks, which are reaching insane levels of “irrational exuberance” and are often highly leveraged […]

Posted By: Brad Warbiany @ 1:13 am || Permalink || Comments (2) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues
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November 13, 2008

Credit Crisis News — Pay Attention This Weekend

Over the last few months, I’ve been trying to devote time to the credit crisis and bailout. Unfortunately, the news cycle is often so short that it’s difficult to keep up. Today I was lucky to be able to catch the bailout modification. With the busy times ahead, though, there’s something that needs to be […]

Posted By: Brad Warbiany @ 12:25 am || Permalink || Comments (3) || TrackBack URI || Categories: Credit Crisis,Economics,Foreign Affairs,Free Trade,Monetary Issues
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November 12, 2008

They Don’t Know What They’re Doing

For anyone who thinks this “bailout” is any more than a haphazard guess about what the market needs to remain mobile, here’s your answer… They’ve changed their minds — again: An already disheartened Wall Street turned sharply lower Wednesday after Treasury Secretary Henry Paulson said the government won’t buy banks’ soured mortgage assets after all, […]

Posted By: Brad Warbiany @ 10:19 am || Permalink || Comments (9) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues
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November 3, 2008

Third Party Debate

The City Club of Cleveland extended an invitation to the top six presidential candidates*. Of the six candidates, Libertarian Party candidate Bob Barr, Constitution Party candidate Chuck Baldwin, and independent candidate Ralph Nader participated; Democrat Barack Obama, Republican John McCain, and Green Party candidate Cynthia McKinney were no-shows. Unlike the debates we have already seen […]

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October 24, 2008

A Tale Of Two Bubbles

Today’s Wall Street Journal notes that the world’s financial problems go well beyond a credit crisis: The original bubble was in housing prices and mortgage-related assets, which the Federal Reserve helped to create with its negative real interest rates from 2002 into 2005. This was Alan Greenspan’s tragic mistake, not that the former Fed chief […]

Posted By: Doug Mataconis @ 6:31 am || Permalink || Comments (5) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues
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October 23, 2008

Don’t Forget to Study Before the Final!

I just received my mail-in ballot a week or so ago. The ballot, with multiple choices with arrows to be filled out next to each choice, reminds me of taking standardized tests back in the day. Some tests were easier than others but I knew that if I did not study, one of two things […]

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October 16, 2008

Inflation Fears Ease — So Watch Out!

As I’ve pointed out before, the extreme leverage increases in our economy created a false inflation, and the de-leveraging is an inherently deflationary process. There are signs that this false inflation is easing, and possibly even heading into a deflationary curve. Consumer prices were flat in September as retreating costs for gasoline, clothes and new […]

Posted By: Brad Warbiany @ 1:16 pm || Permalink || Comments (1) || TrackBack URI || Categories: Credit Crisis,Economics,Monetary Issues
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October 14, 2008

Pretty Soon You’re Talkin’ Real Money!

$700B here, $900B there, and now another $250B on top! The government put itself four-square into the country’s banking business Tuesday, resorting to what President Bush conceded was the unwelcome choice of buying into the system to loosen paralyzed channels of credit. The president said the decision to buy shares in the nation’s leading banks […]

Posted By: Brad Warbiany @ 1:06 pm || Permalink || Comments (1) || TrackBack URI || Categories: Credit Crisis,Economics,Government Regulation,Monetary Issues,Socialism
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October 8, 2008

No Repeat Of The 1930s Here!

Yep… Worried of a liquidity crunch similar to that in the early 1930s, there’s been quite a bit of movement in the last week. Starting with last Friday’s $700B Treasury bailout of toxic debt, followed by yesterday’s $900B+ short-term lending backstop, markets still weren’t assuaged. So what happened? A big drop from the Fed in […]

Posted By: Brad Warbiany @ 12:34 pm || Permalink || Comments (3) || TrackBack URI || Categories: Credit Crisis,Economics,Government Regulation,History,Monetary Issues
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October 7, 2008

Fed Opens Spigot With Up To $900B $1.3T More

With the reverberations of the Congressional fight over the $700B bailout still shaking Capitol Hill, the lingering question has been whether that $700B would be enough to do any good. Nope. They’ll need at least double that. And Congress isn’t voting on this plan: The Federal Reserve announced Tuesday a radical plan to buy massive […]

Posted By: Brad Warbiany @ 8:59 am || Permalink || Comments (6) || TrackBack URI || Categories: Credit Crisis,Economics,Government Regulation,Monetary Issues
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October 6, 2008

Just What Was The Administration Threatening Recalcitrant Representatives With? Martial Law?!?

I hope that Representative Sherman is the victim of a bad game of “telephone”. If he is not, if the administration really did threaten to impose martial law if the bill weren’t passed, then the time has come for us to cast out the vipers in Washington D.C. Hat tip to The Crossed Pond and […]

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October 2, 2008

Cato Institute Scholars Make The Case Against The Bailout

Here is a great compilation of the media appearances that various scholars from The Cato Institute have been making all over the media during the past two weeks making the case against the bailout: H/T: Tom Palmer

Posted By: Doug Mataconis @ 12:32 pm || Permalink || Comments (4) || TrackBack URI || Categories: Economics,Government Regulation,Monetary Issues,Politics,Theory and Ideas
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September 29, 2008

Thoughts On The Bailout

A few days ago, I tried to explain, in layman’s terms, how we ended up in this financial mess. I had this to say about the bailout: We can debate whether or not this bailout should or shouldn’t occur (for the record, I’m against it), but in an election year, there’s nothing that’s going to […]

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September 26, 2008

It’s Funny Because It’s True

No additional comment needed…

Posted By: Brad Warbiany @ 11:36 am || Permalink || Comments Off || TrackBack URI || Categories: Economics,Monetary Issues
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September 25, 2008

The Global Financial Margin Call

Leverage: 4. the use of a small initial investment, credit, or borrowed funds to gain a very high return in relation to one’s investment, to control a much larger investment, or to reduce one’s own liability for any loss. For an investor, margin is a blessing and a curse. When you’re trading on margin, your […]

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Just Say No To The Bailout From Hell

While the rest of the politcal class debates the wisdom of John McCain’s non-supension suspension of his campaign, Libertarian Party Presidential Candidate Bob Barr seems to be one of only a handful of people out there saying we need to look at the bailout itself: In the name of restoring economic confidence, the Bush administration […]

Posted By: Doug Mataconis @ 11:18 am || Permalink || Comments (3) || TrackBack URI || Categories: Economics,Government Regulation,Monetary Issues,Politics
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September 24, 2008

Welcome to the U.S.S.A.

For those of us who value the concept of life, liberty, and property, there doesn’t seem to be much reason to be optimistic for America’s future. Last week we saw one government (taxpayer) bail out after another. The price tag seems to grow a couple of hundred billion dollars each day (depending on which figures […]

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