This MarketWatch story is stretching to find something that I don’t think is there. But it makes for a good read, and it does provide evidence to show that Goldman Sachs is way too influential in our government. Here’s a taste…. He (“Hank the Hammer” Paulson) got $38 million his last year as CEO in [...]
Filed under: Economy, Political | Tagged: AIG, bailout, conspiracy, Goldman Sachs, Paulson | Leave a Comment »
According to Reuters, GM has managed to grab another $5 billion in US tax dollars today. And the UAW is whining that they aren’t being treated fairly. “We need President (Barack) Obama and his auto task force to stand up for the interests of workers and retirees in these restructuring negotiations,” the union said in [...]
Filed under: Economy, Political | Tagged: bailout, Capitalism, GM, government | 1 Comment »
In the NY Times today, Paul Krugman does a good job of explaining why Ireland is in deep trouble. Unfortunately, Mr. Krugman draws the wrong conclusions from the Irish experience – he thinks we need to nationalize banks, when the lesson to learn is to not bailout private banks. Mr. Krugman says Last September Ireland [...]
Filed under: Economy, Political | Tagged: bailout, Banks, Debt, government policy, Ireland | 1 Comment »
I’ve seen dozens of stories tonight about how the Tea parties are a protest against Obama and how they are protesting high taxes. Bullshit. A few high profile Republicans such as Sean Hannity, Newt Gingrich, and Dick Army hijacked the Tea Party concept for their own political purposes. The Tea Parties are not anti-Obama. The [...]
Filed under: Economy, Political | Tagged: Bush is an idiot, democrat, federal spending, Obama, republican, Tea Party | Leave a Comment »
It’s been a while since I’ve had time to post any new info, and as I was reading through the news tonight, it occurred to me to close the loop on the dismal S&P 500 earnings in Q4 of 2008. To sum it up, they sucked. Standard and Poors has the final numbers for 2008 [...]
Filed under: Economy | Tagged: earnings, Economy, Q1 2009, S&P 500, SP500 | Leave a Comment »
Today’s Daily Reckoning had a good piece (as usual) from Bill Bonner. He had an imaginary conversation with Tim Geithner about how to handle the debt bubble. I wish I would have thought of that, but I’m not known for being original. Here’s part of the conversation where Tim calls up Bill and asks [...]
Filed under: Economy, Political | Tagged: Bill Bonner, China, Daily Reckoning, Debt, deficit, Geithner, trade deficit, US Debt | Leave a Comment »
