Is The Economic Panic Justified?
Act In Haste, you know the rest… How many of us have had a make a fast decision when panicked or stressed? How many times have we heard, “I wish I had thought things out a [...]
Job Cuts And Pay Freezes – The Downward Spiral Continues
Companies by the thousands are announcing large layoffs to their labor forces and, in addition, cutting or freezing the pay of those who remain employed. AT&T Freezes Salaries of 120,000 Management Workers NEW YORK (Reuters) — AT&T [...]
Opposition To Stimulus Plan Grows
As Americans learned more about the stimulus package that proposes to put us $1 trillion deeper into debt, logical minds are beginning to question the wisdom of the plan. Public approval for the stimulus plan is at [...]
“Financial Catastrophe” – Part II
President Predicting Catastrophe President Obama declared today that “A failure to act and to act now will turn crisis into catastrophe and guarantee a longer recession.” Alan Blinder, a former vice chairman of the Federal Reserve, echoed [...]
Why Did So Few People Save For Hard Times?
A Recession of Biblical Proportions Consumers usually build savings in booms, then raid their troves during busts – but not this time. In booms we put away some of the abundance because we know we’ll need it [...]
The Flip Side of Bad News – Still A 90% Employment Rate
Disappearing Money Charles Biderman of TrimTabs gave an interesting interview to Barron’s this weekend. TrimTabs tracks flows of money in an effort to predict the stock market’s primary trend. According to TrimTabs, “the first sign of a [...]
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 [...]
