The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

How Many Ounces of Gold Does It
Take to Buy a House in Baltimore?

Answer: Fewer today than it did yesterday! Gold prices have been on a tear lately, topping a fresh record high above $1,900 an ounce late Monday — just two weeks after rising above $1,800. . . . Gold prices rose 2.4% during the regular trading session to settle at $1,891.90 an ounce. In after hours […]

Gold Nears $1,900 per Ounce

Anyone seriously expect it to stop short of $2,000? Gold futures notch a fresh nominal record in electronic trading in Asia on Monday, against a backdrop of concerns over the health of the economies in Europe and the U.S. Gold for December traded at $1,882.50 per ounce, up $30.20 in electronic trading. Gold futures reached […]

‘Fight’ Whom, Congressman?

Excuse my visceral reaction to this story: Cummings: Black community wants Obama to ‘fight harder’ Rep. Elijah Cummings (D-Md.) said Sunday that African-Americans want President Obama to “fight harder” to create jobs in the struggling U.S. economy. Speaking on CNN’s State of the Union, Cummings said the black community is very protective of Obama and […]

Obamanomics in Action: Houses in Baltimore Selling for Less Than $10,000

Hundreds of urban homes have sold for rock-bottom prices: One of every 10 city homes sold during the first half of the year — about 275 in all — fell in that price range [below $10,000]. Twice as many sold for under $20,000. … More city homes sold for less than $10,000 between January and […]

Obama’s Basic Problem: They Don’t Teach Economics at Harvard Law School

Ace of Spades points out the obvious: When Obama was on this supposed non-political listening tour in swing states, he actually wasn’t presenting a plan, of course. He was promising he would have a plan. That’s odd, isn’t it? All Obama knows about economics is what his neo-Keynesian advisers tell him about the glorious benefits […]

Wall Street Panic: European Woes, Inflation, Weak Data Tank Market

L.A. Times: Global stock markets plunged anew Thursday amid intensifying concerns about Europe’s debt crisis and a batch of disheartening economic reports in the United States. The Dow Jones industrial average tumbled more than 470 points, and other indexes followed suit. . . . In addition to the European sell-off, U.S. traders were hit by […]

Scapegoater-in-Chief: President Obama Blames Tea Party for High Unemployment

Some have called it the “Magical Misery Tour,” and the allusion to the Beatles’ psychedelic phase is quite apt, because Obama must be tripping: President Barack Obama accused Republican Tea Party activists of holding back the economic recovery Tuesday, hiking pressure on Congress to pass his yet-to-be unveiled jobs plan. On the second day of […]

Unlike a Wall Street CEO, Blogger Can’t Afford Mistresses in Three Countries

Meet John Duffy, a multimillionaire investment banker who is probably about to become a few multi-millions poorer when his wife’s divorce lawyers get through with him: John Duffy, 62, the married CEO of the Keefe, Bruyette & Woods investment bank, has lavished millions of dollars’ worth of homes, jewelry and sexy outfits from Victoria’s Secret […]

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