Arkady's Thoughts

Stay tuned for more results! Virginia :  McDonnell (R) defeats Deeds (D).  Note: Lt. Governor and Attorney General go to Republicans. New Jersey : Christie (R) defeats Corzine (D). NY-23 :  Owens(D) defeats Hoffman (C) For analysis and prediction, please see previous post.

As if yet another example is required to demonstrate how clueless Steve Leisman is, but it's too good not to post.  First part shows a former Reserve Bank president failing to understand that a bubble is forming and the second part has the inimitable Santelli rip Leisman a new one.  Especially interesting that Leisman sees absolutely no problem with our central bank debasing our currency.  No problem at all.  Really Steve? Yes Rick Santelli gets angry and shouts while Leisman appears calm and collected, but that is only because Leisman has no idea what he is talking about or why Santelli is angry in the first place.

In case you are wondering why these races are important or how a governor in New Jersey can impact your life - trust me, it can.  There are three races happening and we will discover tomorrow what the outcome will be.  My predictions and analysis. New Jersey:  Corzine(D) vs. Christie(R).   This has been an extremely tight governor race with both candidates exchanging leads.  Final polls suggest challenger Christie has a tiny lead outside the margin of error.  Christie also went on Imus last week and poked fun at his own fatness leading Cavuto to embrace Christie as the likely winner.  This is a crucial race because Obama has been personally involved in this race desperately trying to bolster Corzine's success and preventing the solid blue state from flipping red.  A victory for the Republicans will send a strong message to the White House that last year's momentum and message has expired.  I think Christie will pull this off, but it wi...

Some bad news from Bloomberg this morning, suggesting that the bill proposed by Ron Paul has been gutted.  It has been gutted notably by two specific people, one being the enabler and perpetrator of the housing crisis our own Barney Frank and the other being Mel Watts from North Carolina.  Paul, a member of the House Financial Services Committee, said Mel Watt , a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee. Fascinating.  EconomicPolicyJournal.com has a piece on this very subject and exposes Watt's plausible motivation for destroying and gutting one of the most important pieces of legislation in Congress right now.  Most of the top industries donating to Watt are major beneficiaries of Fed money printing. His top industry donors are at #1 the commercial bankers industry, at #3 the building trad...

Our esteemed lawmakers are busy at work inventing new ways to screw not only this generation but all offspring and the offspring's offspring.  According to inman news , Reid has proposed an amendment to HR 3548 to extend the $8,000 first time home buyer credit, along with modifying limits and caps thus enabling more and more people to participate.   See, someone got the bright idea that our entire crisis is predicated on the bursting of the housing bubble and while the bubble pop ushered in troubling fiscal meltdowns the housing bubble was merely a catalyst.  America's history over the past 30 years has been largely governed by Greenspan's new economy, an idea built on the fact that an infusion of readily accessible money can stimulate a lagging economy.  It worked in 1987, early 90s and early 2000s so the assumption is that it will work again.  It has indeed provided many years of prosperity to people and allowed many to become filthy rich, however the so...

About one week ago I pointed out that the NY-23 race is something you should be watching and this race just got more interesting.  The GOP hand picked candidate and liberal Republican Dede Scozzafava has withdrawn the race and apparently endorsed the Democrat challenge instead of the conservative Doug Hoffman. While Newt Gingrich and the rest of the out of touch Republican race refused to budge under growing pressure from small government supporters, Hoffman's popularity and support exploded.  This is all good and well considering Newt's main point was the fear that a 3rd party victory could usher in a wave of challengers liable of stealing GOP votes and handing easy victories to the Democrats.  Some have pointed out this rather legitimate concern, but there is no legitimacy here what so ever.  What Gingrich and others have failed to realize is that the Republican party offers virtually nothing new in contrast to the Democrat party and while they pay lip servic...

Recently there have been a flurry of economic reports and activity suggesting that the next months and years ahead will be arduous.  As an amateur student of the economy there is one persistent underlying theme that can be found as the central issue of virtually every debacle today.  Whether it be a seemingly benign issue like cash for clunkers, to continuing escalation in Iraq and Afghanistan to the crippling housing crisis it can all be explained in one form or another by monetary policy. While I am no fan of Ron Paul due to his inexplicably strange following and tendency to over simplify and even skew issues, he has been championing a most noble and righteous cause for many decades now.  What Paul understands and many do not is the inherent power structure of Congress and individuals who will do anything to retain this power.  There is a way however, in fact there are two ways to actually end the Fed and you can read my recent articles pertai...