Archive for the ‘Uncategorized’ Category

The Republican “betrayal”

October 11, 2017

The truth about money

Republicans only demand austerity and a balanced federal budget (and only indulge in their “debt ceiling” antics) when a Democrat is in the White House, or when Democrats control Congress.

For example, austerity mania raged in Washington from late 2010 to 2012, because a Democrat (Obama) was in the White House. Perhaps you remember Obama’s “cat-food commission,” and “grand bargain,” plus all the chatter about “sequesters.”

Before that, there were the disastrous four years of Bill Clinton’s budget surplus (1998, 1999, 2000, and 2001).

Republicans talk about austerity, but only Democrats put it into action.

When a Republican is in the White House, “deficits don’t matter,” as Republican Vice President Dick Cheney told Treasury Secretary Paul O’Neill.

Indeed, on 31 Dec 2002 President Bush fired Secretary O’Neill for opposing Bush’s spending spree for the invasion of Afghanistan and (in March 2003) Iraq.

This pattern never changes. Therefore it amuses me to see “fiscal conservatives” whining about Republican “betrayals.”

View original post 665 more words

Advertisements

College Loan Debt is a Big Problem for Borrowers, Lenders and Government

August 3, 2010

MSN Money and The Wall Street Journal have combined to produce an article detailing some of the problems that exist for those with college loans debt. Among the situations cited is a 41-year old MD with $550,000 outstanding college debt. The debt was much less (about $250,000) when this individual graduated from medical school in 2003, but has ballooned to the present amount through mismanagement.

Another case mentioned is a laid-off factory worker with $120 a week garnished from her $300 a week unemployment check to apply against her son’s college loan debt. The son is also unemployed, having lost his $29,000 a year job 8 months ago.

A third case describes a college loan debt that has grown from $28,000 to more than $90,000, with monthly payments that were originally $230 now $816.

How do such cases happen? (more…)

You Are Not So Smart

July 31, 2010

I just came across a great blog with the subject title: http://youarenotsosmart.com/ published by David McRaney, a journalist and broadcast media director. I want to highlight two interesting posts. (more…)

Listen to the Crash

May 9, 2010

This is an audio tape of President of TradersAudio.com Ben Lichtenstein’s breathless order-taking in the S&P 500 pit in Chicago during Thurday’s unusual trading. Link to audio.

Articles Week Ending January 29

February 6, 2010

Jan. 22 Oil Service Companies: Time to Buy?

Jan. 22 U.S. Banks to Face New Trading Restrictions

Jan. 23 Housing Double Dip?

Jan. 23 Aftershocks from the Massachusetts Earthquake

Jan. 24 Long Term Unemployment: Less than Actual Out of Work

Jan. 25 Hedge Funds, Investment Banks: When Will They Ever Learn?

Jan. 26 Housing Market Has a Way to Go

Jan. 26 Housing: Government as Casino Player

Jan. 26 New York Fed: Further Investigation Regarding the AIG Affair

Jan. 26 Are Existing Homes and New Homes Following Different Paths?

Jan. 28 Job Recovery Cycle Intact

Information Overload

October 24, 2009

information
This fabulous simple graphic from Jessica Hagy, courtesy of http://flowingdata.com, has initiated some very interesting discussion, both serious and humorous.
(more…)

April 4, 2009


Search Engine Submission – AddMe

HOUSING: WHERE IS THE BOTTOM?

January 13, 2009

It is generally agreed that housing is a significant contributor to the current economic crisis. Many have said that the credit bubble can not be deflated and the consumer can not return to spending until housing prices stabilize. Others have said that recovery will not be sustainable until the housing market bottoms. I have heard so many people offer opinions (watch CNBC) that the housing market will bottom in 2009 or 2010. A few have offered an opinion of a longer wait. I have not seen a comprehensive discussion of the factors involved in the housing shake-out, so here goes. I hope it’s not a case of “fools rush in where wise men fear to tread.”

There are three aspects of the housing crisis: Falling prices, mortgage defaults and supply issues. They will be tackled one at a time, although they are related. Falling prices increase mortgage defaults, which throw foreclosed houses onto the market, and thus the inventory glut is increased. Additionally, there is a section analyzing the demographics involved in the current housing cycle, which are different from the previous cycles since 1950.  To continue, click on the following link:     http://seekingalpha.com/article/113843-housing-where-is-the-bottom?

Looking For the Next Bubble – Commodities?

August 10, 2008

I recently published this article discussing the recent behavior of commodity prices with a historical perspective:    http://seekingalpha.com/article/88827-looking-for-the-next-bubble-commodities?

Housing/Credit Mess

May 2, 2008

Here is the best summary of the current disaster that I have read:  http://www.moneymorning.com/2008/05/02/with-much-blood-letting-to-come-the-u.s.-housing-finance-system-needs-replacing