Daily Archives: 02/08/2007

American Irrelevancy

by John Galt August 3, 2007 What if one morning, the world woke up and said “hey, we don’t need America any longer” and it became the new reality? That morning may well be starting not just in a geopolitical sense of the idea, but economically as well. The pomposity of our self-importance that we assign to every activity, every event, and every financial decision is being whittled away on a daily basis. The nations of the world are tired of our meddling both politically…

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Goldilocks Autopsy

by John Galt August 2, 2007 Despite the Fantasyland tickets being issued by the Bubblevisionistas, there is an extremely harsh reality sinking in to many war rooms across the other amusement park known as “Realityland” which is slowly hitting Mainstreetland. That harsh reality is that credit bubbles do actually go “pop” and can actually impact the day to day operations of the financial markets. The recent announcement that Bear Stearns has stopped redemptions on a third hedge fund is only one more indication that the…

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