Local Governments Join The Strategic Default Movement
As if creditors didn’t have enough worries with nonperforming consumer debt and defaulting real estate mortgages, it now appears that another wave of debt defaults has started - this time by municipal borrowers.
Consider the City of Buena [...]
US Treasury Calls TARP Repayments A “Milestone” While Ignoring The Elephants In The Room
Treasury’s Victory Call On Financial Bailout Premature
The Treasury Department’s latest public relations effort to highlight the success of the financial system bailout focuses on the amount of TARP repayments versus total debt outstanding. In addition, the Treasury, [...]
Mr Obama, Please Don’t Read This
US Companies Build Massive Cash Reserves Based on Economic Worries
Wall Street Journal - U.S. companies are holding more cash in the bank than at any point on record, underscoring persistent worries about financial markets and [...]
Geithner Lectures Europe On Fiscal Discipline - This Is Like BP Giving A Seminar On Oil Well Safety
With Europe Facing Meltdown Geithner Offers Advice
After recently “saving” the US from economic Armageddon, Treasury Secretary Geithner must feel uniquely qualified to advise European governments on their looming sovereign debt crisis. Geithner’s solution to Europe’s out of [...]
Why The Biggest Risk To The Economy Is A Strong Recovery
Concerns about the current economic mess turning into another Great Depression seem to have faded. The consensus view of government officials and private economists seems to be that the economy, although still fragile, is well on its [...]
Census Bureau Report Portrays Destruction Of The American Dream
It Already Is A Depression For Many
The latest report from the Census Bureau on income, poverty and health insurance coverage portrays a darkening economic picture for millions of Americans. Incomes and living standards fell without regard to [...]
Extended Unemployment Benefits Make Little Sense
Do Extended Benefits Reduce Job Seeker’s Motivation?
Excluding the depression of the 1930’s we are fast approaching a new official high in unemployment. During the depths of the last worst recession of 1981, unemployment exceeded 10% vs 9.4% [...]
If You Buy A Lottery Ticket In Connecticut Don’t Go On Vacation
Living Beyond Your Means
Connecticut is facing a projected $8 billion dollar plus deficit over the next two years. In an attempt to prevent raising taxes which are already among the highest in the nation, Connecticut is following [...]
Super Clunkers - How Congress Can Double US Vehicle Sales
Clash for Clunkers Increases Car Sales
The much maligned Cash For Clunkers program has three remarkable features that differentiate it from the other wide assortment of endless government stimulus/bailout programs.
1. The Cash For Clunkers program, at an initial [...]
