Archive for the Economy Category
September 26, 2008One of the reasons negotiations over the $700 billion rescue plan fell apart at the White House last night was the Democrats attempt to stuff a poison pill into the legislation: 20% of the potential profits from any deal being funneled to left-wing groups like ACORN.
Senator Lindsey Graham (to Greta Van Susteren): Twenty percent of the money that should go to retire debt that will be created to solve this problem winds up in a housing organization called ACORN that is an absolute ill-run enterprise, and I can’t believe we would take money away from debt retirement to put it in a housing program that doesn’t work.
ACORN, by the way, stands for Association of Community Organizations for Reform Now. You may be familiar with them for the frequent accusations that they commit voter fraud, registering dead people to get Democrats elected.
You can take the agitator out of Chicago, but you can’t take Chicago out of the agitator. Just like “Country First” wasn’t just a campaign slogan for McCain, it seems like “Get in their faces” was not a mere slogan for Barack Obama.
Says team McCain:
Despite today’s news reports, there never existed a “deal,” but merely a proposal offered by a small, select group of Members of Congress. As of right now, there exists only a series of principles, including greater oversight and measures to address CEO pay. However, these principles do not enjoy a consensus in Congress.
At today’s cabinet meeting, John McCain did not attack any proposal or endorse any plan. John McCain simply urged that for any proposal to enjoy the confidence of the American people, stressing that all sides would have to cooperate and build a bipartisan consensus for a solution that protects taxpayers.
However, the Democrats allowed Senator Obama to run their side of the meeting. That did not work as the meeting quickly devolved into a contentious shouting match that did not seek to craft a bipartisan solution.
Yup. That’s the guy I want at the negotiating table with the world’s most vicious dictators. Good ol’ Barry, building bridges and getting things done.
Market analyst Andy Kessler’s article in the Wall Street Journal indicates the $700 billion US Government investment in the financial market rescue plan could yield as much as $2.2 trillion in returns due to the undervaluation of the assets in which the plan would invest.
Continue Reading “Analysis: $700 Billion Investment Could Yield $2.2 Trillion Return” »
I’ve mainly stayed out of the way when it comes to the market rescue package. I’m no economist and I figured there were better sources than me where you could get your information regarding the issue.
That said, there are some common sense things that I’ve been itching to say as I watched elation slowly turn to bitterness and anger regarding the package and the perception that it’s some big pay-out to Wall Street fat cats.
Financial market expert Jim Cramer of CNBC’s Mad Money relayed information he’s heard indicating that the steep stock market plunges we’ve seen in recent weeks could be the result of “financial terrorism.”
Continue Reading “Cramer: Market Plunges Could Be Financial Terrorism” »
Businessman and investor Francis Cianfrocca offers a bluntly honest and highly reasoned look at the current Wall Street turmoil in a posting at Red State. The entire piece is worth a read, or even two reads, and the entire situation is worth more than a few deep breaths.
It’s not “sunshine and bubble gum,” but it’s also not “review your Boy Scout knots and start working on a noose,” which is the way I was feeling after reading this Wall Street Journal piece last night.
Cianfrocca doesn’t deny the depths of the current crisis, but manages to put it in perspective. That’s something missing from most of the reporting I’ve seen, which has gotten increasingly hysterical in the past couple days.
Continue Reading “Extremely Weak But Not Fatal: A Reasoned Credit Market Analysis” »
A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.
Both entities were recently taken over by the government, a move that puts trillions of taxpayer dollars at risk.
Continue Reading “Bush Proposed Fannie Mae / Freddie Mac Supervision In 2003″ »
Don’t believe the fear mongering eminating from Denver’s Democrat Convention and pundits in the leftstream media. Economic data released this morning proves that John McCain was right when he said that the economy is fundamentally sound.
Continue Reading “McCain Right: Data Proves Economy Fundamentally Sound” »
Advance Publications, owner of New Jersey’s Newark Star-Legder and Times of Trenton (known to most human kind as the Trenton Times), announced that the papers will be sold unless 200 company employees accept contract buyouts by October 1.
25 of the buyouts would have to come from the Times. There would also need to be unreported union concessions to continue operation of the papers.
The Trenton Times is the lefty paper of that near-dead city. I hope Trentonian owner the Journal Register company buys them out and puts bikini girls in every section.
I read the doom and gloom that’s being shoved down our throats by the Dinosaur Media and find myself almost being sucked in. Things are tough out there, for sure, but they can’t be all that bordering-on-depression tough in Bucks County if things like this are going on.
