During the death throes of Herbert Hoover’s presidency in June 1932, desperate bands of men traveled to Washington and set up camp within view of the Capitol. The first contingent journeyed all the way from Portland, Oregon, but others soon converged from all over—alone, in groups, with families—until their main Hooverville on the Anacostia River’s fetid mudflats swelled to a population as high as 20,000.
US in possible downgrade encore shock
The “not-so-super” Deficit Commission is very unlikely to come up with a credible deficit reduction plan. The committee is more divided than the overall Congress.
CNBC Portfolio Challenge Bonus Bucks Answers
All American Investor
How to stabilize the housing market
With constructive approaches by independent regulators, far better policies could be in place in six months and the tone of the market could improve immediately. There is nothing else on the feasible political horizon that can make as large a difference in driving America’s economic recovery.
The price of pathological procrastination
Pathological procrastination by the sovereign debtor in acknowledging the severity of its problem and commencing the necessary workout process can make the ultimate resolution of the crisis far more costly for all concerned—the sovereign debtor, its citizens and its creditors…
Original content Bob DeMarco, All American Investor
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