Australia cut a key lending rate a full one pe%rcent reversing an early 3.7% slide to finish its day up 1.7%.  Japan left its rate unchanged at .5%  So did that action in Australia calm everyone down?  I doubt it but the news is the news, the markets here rallied considerably the last hour as…

After the crash of 1987 the stock exchanges adopted similar limit moves to the commodity exchanges for one day of trading. Right now that is 10% which would be S & P 997. We did hit 1008 on the spx and now it has rallied to 1040 with 35 minutes to go.   The price earnings…

Not surprisingly skyscraper building is tied to the optimism reflected in the stock market. Just as real estate speculation grew with each move up in the stock market, the desire to 'top' the last skyscraper built is another manifestation of popular culture. Now were else but Dubai plans a skyscraper two thirds of a mile…

SNL summed up the entire sub prime debacle in this skit. The portrayal of the various 'vicitims' has it exactly right.  You can watch this and learn more about this than in dozens of newspaper columns. UPDATE Tuesday Oct 7  An alert Yovela Rico notes that the SNL skit is no longer on line, I checked…

Warren Buffet remarked that we are having an economic Pearl Harbor on the Charlie Rose show this week. At the same time he has bought preferred stock with common warrants on both Goldman Sachs and GE just this morning. Everyone else is selling, he is setting his own terms and buying. BRK will get a 10%…

Dave Ramsey suggests a pretty simple three point plan to as an alternative to the $700 B bailout. If this link does not work just go to daveramsey.com. It involves insurance on re set mortgages, eliminating capital gains tax, and eliminating mark to market accounitng on tier three sub prime mortgages.  Gee how about we try…

My take, with a month to go I suspect that the Dem party staged an atempt at a manufactured crisis, designed to make everyone think there is in fact a panic. Sure enough we had one, but not quite like planned. While there is a lot of finger pointing and spin, I suspect that literally…

There have been many calls for a student business organization. Our thoughts are that initially an umbrella organization covering all the majors in business would offer multiple advantages.  First we need a time and place for example, if we bring soneome to campus to speak, we clearly want to make a good impression with lots…

As usualTom Sowell cuts through the rhetorical clutter. I would add that Greenspan's way too low interest rates and the Bush policy of build build houses added to the mess. At any rate, we have, surprise, the foreign exchnges pretty much bouncing back to even after an initial sell off last night, I would have…

94 Democrats joined Republicans in defeating the 'bailout bill.' We have detailed the many problems in the  economy here the last few months.  Now the perfect storm of investment and commercial bank failures, election rhetoric, natural catastrophes are bringing a financial storm. What worries me most is the possibility of a credit meltdown. Already banks are…