by John Mauldin, Thoughts From The Frontline
The data this week was just ugly. Even the uptick in the leading economic indicators, seized upon by so many talking heads, must have a large asterisk beside it.
This week we look at the increasing probability that we are headed for recession, and the follow-on implications. Then I take a perilous and speculative journey into the realm of the [...]
“Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency.”
With some of the economic indicators looking a bit dicey, President Obama traveled to Ohio last week to tout what the administration considers a good-news story: the rescue of the domestic automobile industry. In fact, he also made it the subject of his weekly radio address.
We take no view [...]
“I disagree with your contention that the “economic recovery is in an initial stage.” We can’t have a recovery because the debt destruction has not occurred. In other words, the normal functioning of the economy was interrupted by the greatest coordinated intervention ever undertaken in human history.
“I’m not saying that allowing asset prices to plummet to market levels would have been pretty. I’m just saying [...]