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	<title>financial reality</title>
	<link>http://alamedalearning.com/reality</link>
	<description>Separating fact from fiction in finance and economics</description>
	<lastBuildDate>Wed, 23 Jul 2008 19:48:08 +0000</lastBuildDate>
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	<language>en</language>
	
	<item>
		<title>All Bulled Up</title>
		<description><![CDATA[The bulls are clearly back in charge of the stock market. Companies report poor results and/or poor forecasts, the shares sell off and are then bid right back up again. Any bad news is deemed to be the last bad news, the future is rosy as the bailing buckets from a panicking government swing ever [...]]]></description>
		<link>http://alamedalearning.com/reality/2008/07/23/bull/</link>
			</item>
	<item>
		<title>The Tax Trap</title>
		<description><![CDATA[Some 2006 data. The lowest 50% of earners paid only 3% of total income taxes (although they have 12% of total income). This is why people vote for more spending and big government. Half of them are not paying anything, for all practical purposes. This is the argument for a flat tax, and why it [...]]]></description>
		<link>http://alamedalearning.com/reality/2008/07/21/the-tax-trap/</link>
			</item>
	<item>
		<title>The Debt Trap</title>
		<description><![CDATA[A sophisticated presentation from the New York Times, The Debt Trap. Especially the interactive chart of a century of debt and savings (under &#8220;lifetime&#8221;), that puts today&#8217;s staggering household debt burden into perspective.
One looks at that chart and says, wow, what a bull market in credit. Consumer credit in various forms has been around for [...]]]></description>
		<link>http://alamedalearning.com/reality/2008/07/20/the-debt-trap/</link>
			</item>
	<item>
		<title>Outrage Is Futile</title>
		<description><![CDATA[Jim Grant writes in the WSJ - Why No Outrage? Good question.
Huey Long, who rhetorically picked up where Lease left off, once compared John D. Rockefeller to the fat guy who ruins a good barbecue by taking too much. Wall Street habitually takes too much. It would not be so bad if the inevitable bout [...]]]></description>
		<link>http://alamedalearning.com/reality/2008/07/19/outrage-is-futile/</link>
			</item>
	<item>
		<title>Historical Perspective</title>
		<description><![CDATA[I know everything is fine according to Mr Bernanke, who believes the economy will continue to grow. Or more precisely, who says he believes the economy will continue to grow. And senior government officials don&#8217;t lie, do they? But maybe we should take a look around:

There are pictures of bank runs in the media, complete [...]]]></description>
		<link>http://alamedalearning.com/reality/2008/07/17/historical-perspective/</link>
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