As we close the books on October 2011, there are many media outlets who are broadcasting the positive month for the U.S. Stock Market and a meager 2.5% GDP growth as if the Allies liberated Europe on V-E Day. Not so fast. The Dow is the WRONG metric to judge our collective fiscal health, and when any news reader takes…Read More »
Its like Christmas in September in Washington DC these days, at least it is if you own a large multinational corporation.
Hundred billion here and a zillion billion there.
The automakers obviously dont rate very highly as they only found 25 billion in their stocking this morning BUT ..
There is the promise of more to come …
Unbelievable… Barack Obama, having spurned John McCain’s offer of a temporary stand-down of campaign activities in order for them both to do the right thing, to concentrate their efforts on resolving the most pressing matter to come before congress since Obama was elected, tonight accepted an offer by President Bush to attend a meeting at the White House tommorrow. I’m…Read More »
There is no libertarian solution to the crisis. Houses are too expensive; supply exceeds demand; the mortgages held have been sold and the resulting mortgage asset has been used as collateral and leveraged. You can either hope for a new housing boom or else try to slow the decline with some kind of market supports or simply stand…Read More »
( – promoted by Cool Cal)
Now here is a level of support that you dont see every day; seven frigging percent?
The percentage of people who think Dick Cheney attacked the world trade center is much higher than that. http://www.rasmussenreports.co… And it shouldnt come as much of a surprise either.
Remember, it is these same Wall Street idiots and…
( – promoted by Cool Cal) He just drew a line in the sand a little lot too late. Frank, who has been in phone discussions with Paulson, said the secretary appeared receptive to adding some foreclosure-relief language. The second Democratic proposal – to impose compensation limits on Wall Street executives – is meeting more resistance. “Hank says it’s a…Read More »
Picture the world financial market as a hugely overbuilt skyscraper resting on a badly compromised foundation. The core pillars supporting the structure are rotten and about to collapse, and the failure of any one would rapidly induce failure in all of them. The sensible approach would be to get as far as possible from the impending collapse. The Power Elite’s…Read More »