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 [...]
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 [...]
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 [...]
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 [...]
‘Atlas Shrugged’ – Banned in Washington
Equality Through Poverty Ayn Rand’s 1957 classic novel, Atlas Shrugged, depicts how governments ultimately destroy the most productive sectors of a society, leaving everyone equally poor. ‘Atlas Shrugged’ : From Fiction to Fact in 52 Years Stephen [...]
The Stimulus Plan Condemns Us To Further Wealth Destruction
Will Spending Borrowed Money Create Wealth? There seems to be near universal agreement at all decision making levels of government that we can borrow and spend ourselves into prosperity. Let’s consider some worthwhile contrary opinions. Leave the [...]
