Our own Senator Cornyn is featured on CNBC as I write saying there is bi partisan outrage that AIG has paid out millions in bonuses.  Business Week details that a good deal of money went to overseas banks. To what end I wonder? It is going to be difficult to get Congress to approve any more…

So who thought all this up anyway?  Glad you asked. Luca Pacioli is credited with codifying accounting in 1494 with Summa De Arithmetica. Like most 'discoveries or inventions' most of the ideas had been around for some time, perhaps going back to Greek civilization. There is much evidence that Muslims used a similar system. It was…

Now art owners are 'pawning' their collections. My presentation on derivatives asks early on, what is Facebook worth? Barrons has long kept track of an annual art index of Chinese jade and such. Sootheby's Christie's and Barret Jackson are all auction houses that have posh sales. Now even Annie Leibovitz has pawned her entire photography collection for a…

How many of us can name the Chineses President?  Okay how about the Chinese Premier? Okay what's the difference?  When it comes to the US dollar, none, they are both worried. This is precisely the scenario the gold bugs lay out. The US is overspending its limits which will eventually weaken the US Dollar. If that…

New Zealand walks to the beat of a different drummer on the rescue plan.

Gov Rick Perry says no to some stimulus money. He also made the point to Neal Cavuto on Fox yesterdayt that the Fed Govt would be in better shape if it followed Texas example of having some fiscal control, yikes!  What Next, A Don't Tread on Me Flag?  Barack, are you listening? My point is that…

George Stephanopolous reports that the third choice for Treasury in one week has been rejected. Britain complains no one is answering the phone. No wonder…..

A Cato Institute writer questions the wisdom of the proposed tax policies of the new administration. The story of the golden goose is hardly new. Even Nancy Pelosi realizes that Silicon Valley is a Golden Goose, as does Barbara Boxer. But penalizing partnerships for accumulating wealth coupled with the ever increasing taxes of the Golden…

  Outliers was rated by Tom Sowell as one of the most important books of 2008. I read it over the last two days, gee it certainly attracted my interest, and you should too. In fact I suspect we should shut down every class on campus and read and discuss this over the next week, it…

Great Depression Survival Guide, Part II by Chris Mayer "Although most Americans think of the 1930s as a decade of economic stagnation, the period was far from being one of unalloyed decline." – Robert Sobel, The Age of Giant Corporations Robert Sobel's book is our chief guide for the second leg of the Great Depression…