I am not sure who coined the phrase Unintended Consequences, but here are a few UCs. Lowering interest rates will not rescue the economy if no one borrows, no lenders lend, and no one wants the risk of debt anyway. However let's suppose you have one million dollars in the bank and want to retire. …

I have made the point in class that socionomics indicates a turn to a much darker mood. I have noted the popularity of Twilight and True Blood (vampires) The Dark Knight (the city has no hope, since then CA and NY are going broke) and other negative signs.  The Chicago Seven really got student protests…

Rick Santelli reports form the floor of the Chicago Board of Trade every day on CNBC.  Yesterday he asked the traders if they wanted to pay their neighbor's mortgage bill.  Click here for a clip that was shown again this morning on CNBC.  The government is suggesting a cram down on mortgages, bankruptcy judges could…

Meredith Whitney   speaks with Maria Bartiromo about the financial crisis in this CNBC clip.  Meredith correctly predicted that CITI would cut its dividend and that the banks would become embroiled in a crisis.  Now she is leaving Oppenheimer to start her own advisory firm.   Let's hope she can continue to be correct!  She…

One upon a time What was good for GM was good for America. At this moment, I suspect that is still true. Cal Thomas suggests that we slowly let GM and Chrysler go. I mentioned critical thinking and analysis in a recent blog post.  The companies that Cal mentions going out of business were frankly…

Next Monday February 23, Tony Ridout and Tamara Black will visit our Intermediate Accounting Class. Ridout Barrett CPAsare located in the same building at San Antonio CPA Society on the North 410 Loop just west of Nacogdoches. Click on the hyperlink to learn more about the firm and what they do. One of our San…

This semester I have urged students to become engaged in their studies. The quote above comes from Mike Phelps swim coach, ie, if you want to become a great swimmer, exercise, running, lifting weights are all good but finally, the sooner you get in the water the better. Our next assignments in Ethics (which were…

John Stossel talks common sense in this column. The Egyptians created a lot of 'jobs' in building pyramids but did the pyramids create any wealth?  Remember that multiplier effect?  I doubt it, they are still sitting there attracting a few tourists yes but not to the benefit of those that built them thousands of years…

President Obama is in Denver today, Speaker Pelosi is on an 8 day trip to Italy, Secy State Hillary is in Asia, Geithner is in Europe or some other place so I guess GM is not high on their priority list.  Apprently GM and Chrysler will submit their written plans on re organizing after the…

Jim Rogers (Investment Biker, Hot Commodities, jimrogers.com) never minces words, here he holds forth on the current plans of Tsy Secy Geithner. (separate interview)   Hostess:  Jim, Wall Street is saying Mr. Geithner’s plan is a bomb.  What do you think?   Rogers:  Well, Mr. Geithner has been bombing for fifteen years.  Mr. Geithner caused…