You would think the financial bailouts, the auto bailouts, and the most massive “stimulus” bill in history would be enough government spending for a while. Oh no! Now we have to bail out all the people who are in home foreclosure at the estimated cost of $50 billion (sure to balloon as we have seen [...]
Continue Reading...It’s amazing how efficient the government can be in wasting money and expanding their control into areas they know nothing about. Today, the all knowing One issued new rules on the already ailing auto industry in the name of being “green” and reducing our dependence on foreign oil. This is all well and good, but [...]
Continue Reading...It’s official. The auto industry has gotten a 17.4 billion (with a “B”) dollar bailout… and that is just for a start to hold them over until the new administration and congress gets in office. As our Ford Explorer starts to fall apart conveniently as the warranty expires and the dealer admits the extended warranty [...]
Continue Reading...This is an interesting video and explains why this recession/depression may end up being prolonged.
Continue Reading...I caught a program over the weekend on the History channel that compared our current economic condition to teh Gread Depression. The show made a case for the current government involvement in the economy (bailouts) by referencing the lack of government involvement in the early days of the Depression. I tend to disagree with this [...]
Continue Reading...I’ve always felt funny about the use “czar” in US politics. The word is rooted in ancient Rome when the emperors took Julius’ name to signify their stature. The name was reused in the form of tsar (czar) in Russia to denote their emperors. So needless to say a name used to signify imperial rule [...]
Continue Reading...It looks like the US automaker bigwigs learn fast that you don’t show up for the welfare line in an Armani suit. It’s a shame that they don’t learn how to run automobile companies so fast. It seems almost days ago that they few into Washington in their private jets with tin cans extended, begging [...]
Continue Reading...It was only last week that I posted about the auto executives flying to Washington in their private jets to beg for taxpayer bailout money. I guess the jets were indeed owned by the auto companies as GM has now decied to sell two in their fleet of jets. Either way, politicians in Washington were [...]
Continue Reading...For anyone who is still unclear why we are in a financial crisis, the Mint has created an excellent visual guide to the crisis. It’s a nice little… er… long flow chart that does a good job of trying to untangle the web that has lead to government bailouts, crashing stock markets, company failures, and [...]
Continue Reading...In the latest episode of the national bailout comedy act, the big three auto maker executives flew to Washington in private jets to beg for our government’s bailout money. Wagoner, whose flight reportedly cost $20,000 round-trip — about 70 times more than a commercial airline ticket — told Congress he expected about $10-$12 billion from [...]
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