49chevy.com

THIS is what...

....the next president is going to have to contend with:

There's also an interesting article in this week's Barron's. It's an interview with Peter Schiff, president and chief global strategist for Euro Pacific Capital. Following are a few paragraphs from the Barron's interview --

". . . we haven't been through anything like what we are going through now. The United States has really been living in a fool's paradise, or a phony economy, probably for more than twenty years. But our economy has been growing bigger and bigger. We have been able to convince the world to lend us money and to provide us with goods that we don't produce and that we can't afford to pay for with exports. And it has gotten to the point now where the problem is so big, especially since the real-estate bubble.

"We have borrowed so much money from abroad. Our trade deficits are now very big, and our industrial base and our infrastructure has been allowed to decay for so long, that we are now at a point that we can only survive as an economy thanks to the charity of the rest of the world. They have provided us with all the goods that we can no longer produce because we lack the industrial capacity. And they have to lend us the money because we don't have savings anymore."

Quotation from Richard Russell's Dow Theory Letters. Subscription required to read the whole posting.

Is It Really Funny...

....when it's true?

RIP, George thanks for the laughs AND the truth. 

Her Name is Laura...

...SCHATZKIN.  She lives in Oakland, CA. She's some kind of distant cousin. And proof that there is no limit to this family's talent:

John McCain: In "The Solutions Business"

 From Daily Kos: Building a Bridge to the Nineteenth Century:

John McCain, we've learned, is computer illiterate, and not knowledgeable about the internet.  That may concern some people worried about a president who doesn't understand arguably the most fundamental technological development since the invention of the internal combustion engine.

Fear not.  I was recently briefed by one of McCain's tech advisers, who demonstrated for me some newfangled gizmos a McCain administration would use to keep America the world's leader in technological innovation and application.