They’re supposed to provide a boost to the economy, but the government’s stimulus programs are having the opposite effect. The Fed’s own statement, released yesterday, said, “Household spending appears to be expanding but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit.” In other words, despite losing your job […]
Former US Vice President Al Gore could become the world’s first carbon billionaire following his investments in green energy companies after anticipating the need to reinvent the way the world produces and consumes energy. Gore’s venture capital company has been investing to develop energy-saving technologies, which could make electricity grids more efficient. Last year, they […]
Posted by Dan Perrin FROM: Michael Hammond RE: The Pelosi Bill -The real cost of the bill is at least $1.3 trillion (the CBO score, plus the “doc fix”) –- and probably much, much more. -The absolute minimum increase in the deficit would be $150 billion. You can probably add to this most of the […]
Be Prepared for the Worst By Ron Paul Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these […]
STEVE RHODES The housing market is so bad you can’t even give away homes these days. Officials in suburban Barrington put three homes up for a sale at just a dollar a piece – a dollar! – and didn’t get a single bidder. A dollar! Let’s review: For less than the price of a CTA […]
Robert Shiller The gains in U.S. home prices in recent months may not be sustainable and increases in some areas of the country appear to be in “bubble territory,” an economist known for his property market expertise said on Tuesday. Robert Shiller, an economics professor at Yale University and co-developer of Standard and Poor’s S&P/Case-Shiller […]
Letter to Ammiano Did California Gov. Arnold Schwarzenegger’s use a coded veto message to send the f-bomb to Tom Ammiano, soon after the San Francisco assemblyman made news by telling the governor to “kiss my gay ass”? A straight reading of Schwarzenegger letter laments “the fact that major issues are overlooked while many unnecessary bills […]
by Kim Trobee Led by Rep. Bart Stupak, a group of Dems tries to force a vote on the abortion funding issue. Rep. Bart Stupak, D-Mich., and at least 40 Democrats reportedly will vote against a rule designed to govern debate on health-care reform, unless that rule allows an amendment to insert language similar to […]
Commentary by Kevin Hasset Sept. 28 (Bloomberg) — Treasury Secretary Timothy Geithner’s appearance in Congress last week to explain how President Barack Obama would overhaul financial regulation elicited the most striking sign yet that the wheels have come off the administration’s economic-policy team. The White House had proposed, and Geithner was ready to defend, such […]
by Frank DeMartini I have been a California resident for the past 23 years. During that time, I have seen the best of times and worst of times. Prior to this economic disaster, the only serious recession in those 23 years was in 1991-1992. At that time, myself and many others in similar situations faced […]
