Prosper by consumer spending, now suffer for of it.

The flaws of the US and credit economy are now being exposed one by one.  The latest evidence to indicate the length of the recession/depression could very well be later than sooner.  The caged beast known as consumer spending has now proven it can injure its keeper.  The Federal Reserve reported consumer borrowing fell in August [...]

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More bailouts, backed by taxpayer funds…great?

 
NEW YORK (CNNMoney.com) — The Federal Reserve announced a new program to help the battered market for short-term business loans – taking its closest step yet to lending directly to businesses.
The program addresses commercial paper, a form of short-term funding that is crucial to many businesses operations.
In the past month, the amount of money outstanding [...]

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Keating 5 History lesson.

Update: Check out http://keatingeconomics.com/
For anyone not aware of the Keating Five, here’s a very simple summary:
Charles Keating owned a savings and loan in California. He was illegally using the money of his bank’s customers to give loans to himself and friends that they didn’t have to repay, and to speculate on risky real estate investments, [...]

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Quick Hits vol. VIII

Don’t vote

Here is a blast from the past….the Guardian is reporting that former Soviet Union President Mikhail Gorbachev has teamed with a russian billionaire to form a new political party that would campaign for legal and economic reforms.  What would the odds of McCain breaking into a ‘tear down this wall’ [...]

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Wow..economic solutions available 8 months ago.

Isn’t it amazing how those who saw this coming were never really listened to?  You have to ask one of two questions.  1)  Are the folks in Washington (Treasury Secretary, FED, House and Senate) all that stupid, they did not see this coming? or 2) are they in on it.  This is a case of leadership [...]

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Best explanation for NO Bailout

This is the best explanation as to why the bail out is not needed!!!!! It has been pasted in its entirety.
Jeffrey A. Miron is senior lecturer in economics at Harvard University. A Libertarian, he was one of 166 academic economists who signed a letter to congressional leaders last week opposing the government bailout plan.
CNN Article:
Commentary: [...]

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Lindsey Graham compares McCain to Buffet?

It was mid-afternoon on Wednesday (24th of September) and on the the air with Wolf Blitzer was Lindsey Graham touting the virtues of John McCain’s decision to suspend his campaign , in order to help his country in its time of need.  At one point during the interview, Wolf asked Mr. Graham to comment on those who claim that [...]

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Why not keep our energy?

When it comes to our oil, natural gas, hydro electric power or wind energy.  Why can’t we keep it at home then sell the surplus.  Instead we are in a situation where Canadians are exposed to the rise and fall of energy costs and only a few benefit from it.
Here is what’s at issue.  Canada is one [...]

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