Logical Minds Reject “Solution” Of More Debt
Logical minds are questioning the wisdom of US stimulus (deficit) spending. We have already seen the end results of excessive borrowing and spending by the State of California – see California Defaults. Global Worries Over U.S. Stimulus [...]
California Defaults
California to Delay $4 Billion in Payments – WSJ California’s chief accountant on Monday will begin delaying nearly $4 billion of scheduled state payments, postponing income-tax refunds, grants to college students and welfare checks in an effort [...]
Notable Links
An $800 Billion Mistake As a conservative economist, I might be expected to oppose a stimulus plan. In fact, on this page in October, I declared my support for a stimulus. But the fiscal package now before [...]
The Unemployment Rate – Is It 7.5% Or 18%?
Job losses continue to accelerate as thousands of workers lost their jobs today. The latest numbers include: CORNING INC 3,500 BOEING 5,500 STARBUCKS 6,700 AOL 700 FORD CREDIT [...]
Job Losses – Symptom Of The Economy’s Downward Spiral
Major Job layoffs become a non stop story Here’s a list of Monday’s horror show. Sprint Nextel Cuts 8,000 jobs Texas Instruments 3,400 jobs Caterpillar 20,000 jobs Corus 3,500 jobs Philips Electronic 6,000 jobs Home Depot 7,000 [...]
New Federal Standards For Mortgage Industry Largely Irrelevant
Obama Plans Fast Action to Tighten Financial Rules WASHINGTON — The Obama administration plans to move quickly to tighten the nation’s financial regulatory system. Officials say they will make wide-ranging changes, including stricter federal rules for hedge [...]
Connecticut Discovers How To Eliminate Unemployment
The State of Connecticut has discovered a method of preventing job layoffs. Blumenthal Wants Connecticut Regulators To Block AT&T Job Cuts – The Hartford Courant AT&T said last month that it would pare its Connecticut workforce, which [...]
Early Results On “Stimulus Package” – Greed, Corruption & Stupidity
The US Senate and House of Representatives is busily putting together a stimulus package that should cost $825 billion. The massive spending package, all conducted with borrowed money, will be spread over a wide variety of programs [...]
Fed Struggles To Lower Mortgage Rates
Fed Determined To Lower Mortgage Rates With Unconventional Methods Mortgage rates started dropping late last year after the Federal Reserve announced that it would be purchasing mortgage backed securities (MBS) in an effort to lower mortgage rates. [...]
