Politicians, financiers and pundits are all busily attempting to jawbone a normal cyclical downturn, already made tougher by the Fed’s seesaw monetary policy, into a permanent downturn in US and world economic growth. A failed $700 billion financial bailout is to be followed by a $50 billion bailout of the failed US auto industry that […]

Congratulations are due to President-elect Obama and his supporters on a well earned and historic victory. Senator McCain hit the nail on the head: …his success alone commands my respect for his ability and perseverance. But that he managed to do so by inspiring the hopes of so many millions of Americans who had once […]