I've come up with the solution to the Big 3 automakers' problems. All they need to do is load up a few huge ships with a bunch of cars and trucks and send them around the Horn of Africa. The pirates will take care of the rest and they can collect the insurance money. This isn't ideal for the insurance industry, but oh well. [more]
Here are a few random thoughts that popped into my head this morning: [more]
Hank Paulson took time out of his busy schedule of raining money that our country doesn't really have down on his Wall Street friends to reassure the markets by ringing the NYSE opening bell on Friday. He's the one in red.
Hey, if a headline like cheap beer doesn't get your attention on a Friday, I don't know what will. I came across two interesting stories on the subject this morning. Both pieces share the same theme, people all over the world are still drinking alcohol, but they are drinking more at home and drinking cheaper stuff. [more]
There's no shortage of hilarious cartoons out there about the current mess that the "Big 3" automakers have gotten themselves into. The promise of comedy is the carrot at the end of the stick to get you to read my thoughts on the potential bailout of the auto industry first. Deep down I know that bailouts of terribly run companies (and take it from someone who works in the industry and has been squawking about it for some time, that is exactly what the Big 3 automakers have been) are wrong. [more]
Goldman Sachs, Morgan Stanley, American Express, and now Deej. That's right, since everyone and their mother is applying with the government to become a bank holding company I've decided to open the Bank of Deej so that I too can have access to the cheap funds that the Fed is throwing around. [more]
I was thinking about the current economic situation on the drive into work this morning. Playing with some rough, back-of-the-envelope type of calculations in my head I decided that massive inflation is inevitable in the United States. Yes, I know that everyone from consumers to hedge funds to investment banks is going through a massive deleveraging process which will certainly be deflationary near term. [more]
The credit bubble, the housing bubble, the commodity bubble, blah, blah, blah the list goes on forever. Is anyone else out there as sick of the word "bubble" as I am. From now on, I am boycotting the word completely. I have decided to call anything that I would have previously called a this now unmentionable word a "balloon." Balloons still inflate and they can pop just like the word that I can't say, I just don't hear and read about balloons every five minutes. I urge you to join my campaign, "Balloon '08" and use it as a replacement as well. [more]