Lee’s Free Thinking

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Why This Bill Needs to Pass, Flawed As It Is

When it comes to the US medical services system, any change at all is better than the status quo. Anything that hastens the total collapse of the system is a good thing. Even if this proposed program doesn’t work and costs go through the roof, it’s good because it will force more change, and hopefully…

Con Con Surprise, No Surprise

It’s odd the way the players pay attention to some numbers and not others. There’s no reason why the market should have been surprised by the ConCon.  ABC News does a comprehensive consumer confidence survey weekly that always foreshadows the ConCon. Last Tuesday ABC had this to say: Follow the money. Find the profits!Liquidity is…

No Improvement in Employment

“Fewer Americans than anticipated filed claims for unemployment insurance last week as an administrative backlog subsided and indicating companies are nearing the end of major staff cuts as the economy recovers. ” That’s how Bloomberg saw it today. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates,…

2010 Predictions: Run on the Banks

The World is partying like it is 2007 all over again. The reasons are two: the crazy money printed by Helicopter Ben and the moral hazard produced by the universal bailout of everything, everywhere. I still see the traces of sanity in the US consumer…

2010 Predictions: Oil

The spectacular rebound in oil prices in 2009 could be attributed to two major factors: fears of currency debasement that lead to excess hoarding and speculation; and discipline of well-oiled Opec members to cut production. You already know from many p…

2010 Predictions: Interest Rates

Last year I was not making making predictions for 2009, mostly because my call for 2008 was ridiculously correct and I had nothing more to say.  But this year will be different and I’ll try to make some predictions. The most important point to…