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 Spending
DAVOS, [...]
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 to [...]
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 Congress [...]
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 [...]
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 jobs
ING 7,000 jobs
Pfizer 8,300 jobs
GM 2,000 jobs
A [...]
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 funds, credit [...]
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 totals about [...]
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. [...]
