Sounds like we’re in for another downturn: The U.S. economy has a “significant likelihood” of entering a double-dip recession if the government doesn’t step in to help the unemployed, economist Robert Shiller told MarketWatch News Break on Wednesday. Read more… More than a few economists are suggesting a return to a recession due to bleak…
Tag: Economy
Forced To Buy Health Insurance
Under Sen. Ron Wyden’s the proposed Senate Bill, people who refuse to buy health insurance will be fined over $1000/year. Called “shared responsibility payments,” the fines would be set at least half the cost of basic medical coverage, according to the legislation. I’m sorry, I didn’t vote Democratic so they can fine me for not…
Why The Mortgage Plan Stinks
A nice article in OregonLive.com, which echoes the sentiment of many, regarding the Mortgage Bailout. Basically asking the simple question “what about all the people who bought houses, have been budgeting, cutting their expenses, and paying their mortgage ON TIME??? What about the people who know how to live within their means? But back to…
More Bailouts: Auto Industry
This is getting ridiculous. I ranted about the bailouts before, I’ll do it again. SAY NO TO THE BAILOUTS! Now, Pelosi and Co. want to bailout the auto industry. ARE THEY FREAKIN’ NUTS!?! The most sensible comment on this actually came out of the White House: White House spokeswoman Dana Perino said the companies had…
Roubini: “the worst is ahead of us”
Economy guru and professor at NYU, Nouriel Roubini gave a presentation in London, and basically said the worst is yet to come. Roubini, back in 2006, accurately predicted that the US will fall into a recession. Back in February, he predicted the financial market meltdown. Some quotes from the conference: We’ve reached a situation of…
Washington Mutual No More!
Wow! A 119 year old bank, WaMu has been seized by the government and sold off to JPMorgan. A major consolidation is happening in our financial markets/banking system. And they just built a WaMu location a block away from me, set to open next month.
Wiki On Subprime Mortgage Crisis
A nice, continuosly updated, writeup on Wikipedia on the current Financial Meltdown and Credit Crisis can be found here.
Paulison’s Unconstitutional Bailout Proposal
From The Nation: Under Paulson’s draft plan, Congress and the courts would have been barred from reviewing or challenging his moves to stabilize financial markets — effectively making him the nation’s economic czar. That’s not just a dangerous power grab for economic and politic reasons. It’s unconstitutional. So basically, this man is looking for $700…
More Bailouts Using Taxpayer Money
Welcome to the Free Market system, where whatever happens, happens, until it’s the very wealthy that’s affected. I’m tired of these taxpaper bailouts for businesses who knowingly made foolish bets. The fact of the matter is, loans were given to unqualified borrowers. Those loan contracts were then sold off in the form of securities to…
Corn Industry Says Don’t Blame Us, Again
Here we go again. The corn industry, this time under the guise of the New Fuels Alliance and FoodPriceTruth.org, are saying that higher food prices, in particular, chicken, are NOT a result of more corn going to corn based biofuels instead of chicken feed. Yeah, right. Same old story.