Tag: economics
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Amateur vs Professional
The financial amateurs in Congress have given us the 110 page text of their bailout plan which they will probably vote on today. It’s pretty much like the 102 page draft I wrote about on Saturday. They added the option to insure troubled assets in addition to the option to buy such assets. They also…
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Economics 101 (Bush Edition)
Wasn’t it so nice for our president to give the country a lesson in economics. He worked hard to reinforce the image of Washington knows best. Unfortunately his lesson left out a few details that are less than flattering for Washington. Let’s review the text of his speech. I’ll skip all the real fluff and…
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Everyone Should Read This
I’m not one to link and run, but sometimes there is really nothing to add. I think that everyone should read what Obi wan has to say about the bailout situation.
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We Must Do Better
There has been no shortage of opposition to the hastily proposed $700 Billion Gift Card (Chris Suellentrop provides a nice rundown) – unfortunately little of the real opposition comes from members of Congress. Our own Senator Bennett has flipped from being wary to being supportive because, as every elected official knows, foolish action is better…
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A Managed Economy
I try not to focus on political or economic issues on Sunday, but I had a hard time when I noticed the figure "$700 Billion" yesterday. I was particularly worried by this statement: . . . it would allow Treasury to act unilaterally: Its decisions could not be reviewed by any court or administrative body…
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And Now For Some Good News . . .
I’m sure there are many who would not see this as good news, but when I read about contracting credit in the lives of everyday people I was thrilled. Because I expect that many people would not share my positive outlook at this news, let me share why I think this is a good thing…
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Something’s in the Air
Some of the people I work with like to dabble in trading stocks. They keep tabs on the stock market and they like to talk about their experiences. Through all the turmoil of the last few months their comments have indicated a challenging, but not incomprehensible market situation – until today. Suddenly this morning everyone…
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Bureaucracy in Action
If you’ve ever wondered why smaller government is better government just look at this: . . . the U.S. Dept. of Agriculture USDA tests about 1% {of slaughtered cattle} for BSE, or Mad Cow Disease. But Creekstone Farms wants to test 100% of the cattle they process, at their own expense. The USDA won’t let…
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IOUSA
With bailouts such as Bear Stearns and Fannie Mae/Freddie Mac there could not be a better time for the Peter G. Peterson Foundation to come along with the backing of $1 Billion (from Peter G. Peterson) and the insider expertise of David Walker (former Comptroller General of the United States) to help citizens and policy…
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Oh Goody – More Debt
This is not a compete surprise, but when I saw the news that the government is going to bailout Fannie Mae and Freddie Mac I was disappointed at that one more proof that we don’t really live in a free market. I might not be so disappointed if our government leaders were to approach this…