Wow, look at it go.
For reference: this is only 8 days after the $7.4 trillion estimate and only 14 days after the $4.284 trillion estimate. That’s $4,216,000,000,000 in two weeks.
If you really want a fright, keep reading. If we were to keep spending at this rate through the first 100 days of the Obama presidency [...]

In case you’ve already resumed sleeping normally after my prior post on the EMP threat, the Wall Street Journal has more to remind you of the danger.

That’s what the Fed is pledging to “rescue the financial system,” according to Bloomberg.com. That’s 50% of 2007 GDP, or 288% of 2007 federal tax revenues. Makes my prior post sound look like a praise of good budgeting.

For all the Lucas/Spielberg/Williams fans out there (and probably most of the critics, as well), I present the best use of YouTube I have seen in a while.
(h/t American Elephants)

I am ditching my old, Chicago-area code (773) cell phone and switching to a Houston number. Please direct all calls and texts to 713-876-6095. Thanks!

It’s the best one-image summary of why the Detroit Three are in such hot water, and it’s on Michigan economist Mark Perry’s blog.
(h/t Greg Mankiw).

“Indeed you can usually tell when the concepts of democracy and citizenship are weakening. There is an increase in the role of charity and in the worship of volunteerism. These represent the élite citizen’s imitation of noblesse oblige; that is, of pretending to be aristocrats or oligarchs, as opposed to being citizens.”
- John Ralston Saul

Elliott Wave International asks, “Are stocks really a bargain?” If you believe your eyes, the answer is pretty clear.
P.S. In case you were wondering what the current DJIA dividend yield is (click the link above to see why this is relevant), you can see that here.

“It was during the first period of this constitution that the Athenians appear to have enjoyed the best government that they ever did, at least in my time. For the fusion of the high and low was effected with judgment, and this was what first enabled the state to raise up her head after her [...]

I offer a final thought for the evening. Last night, a dear friend and I were discussing the state of the world and the nation, particularly with reference to some of the more extreme economic proposals made by politicians and pundits of varying degrees of skill. My friend is one of the most intelligent, well-educated, [...]