There is a campaign among the military-industrialists to set a floor on defense spending at 4% of GDP as “the only way we can stop the inexorable slide of national defense.” This article argues why percentage of GDP is the … Continue reading →

Bailouts in perspective: Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion S&L Crisis: Cost: $153 billion, … Continue reading →

“Aside from its obvious troubles—afflicting all the largest financial institutions (see chart)—Merrill is in damn good shape… Part of Thain’s job, like that of a good physician, is to do no harm. Meaning: Keep the cash machine going…” Forbes, April … Continue reading →