Posts tagged as:

Economic Crisis

State of the Housing Crisis

February 11, 2010

Although most people look at the current economic crisis as a financial crisis on Wall Street, the truth of the matter is that the crisis stemmed from an over-inflated housing market that became over-inflated due to government policy.  As we are looking to find signs of a recovery, we should look towards the real estate [...]

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Glass-Steagall: A Red Herring for the Financial Crisis

January 21, 2010

The causes of the Great Recession of 2008-2010 (and possibly beyond) have been debated and explored in many publications, including on these pages.  One of the arguments that I see frequently, even among Conservatives, is that the banking industry collapse was a direct result of the repeal of Glass-Steagall in 1999 by the Republican Congress [...]

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Heading Towards Depression?

July 24, 2009

The talk on Wall Street lately is that we are heading towards a slow economic recovery.  Many indicators are showing signs of improvement, although most agree that the recovery will be long and difficult.  Yet, some analysis believe that the signs are being read incorrectly, and that we are actually heading towards an economic depression. [...]

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The American Financial Collapse

May 13, 2009

Early yesterday I wrote about the current crisis in the U.S. Fiscal system in the areas of unemployment and our national debt, and how they are leading indicators towards a major financial collapse.  Today, there are several pieces of news that add credence to that theory.  First, the April retail sales and foreclosure numbers were [...]

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A Conservative Shift in California

May 12, 2009

California has been a bastion of liberalism for the last 20+ years, not having supported a Republican for President since 1988, and being known for its bloated government and liberal social policy.  Yet, as I’ve often theorized, liberalism as an agenda is not sustainable, and eventually even places like California will reach a tipping point [...]

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Heading Towards a Bursting of the Government Bubble

April 27, 2009

Yesterday, April 26, was Debt Day, and it was the earliest debt day ever.  Debt Day is the symbolic day of the year that Congress runs out of money obtained normally through taxes and revenue, and the day that it has to begin financing its expenditures through debt.  This year, it is far earlier than [...]

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The Government Economy

April 2, 2009

In less than a year, we as a nation have gone from a robust capitalist economic system  with some burdensome government regulation to be sure, to a government-controlled economy.  The federal government has effectively assumed control, by both legislation and executive order, of the financial and auto industries.  This week’s firing of General Motors CEO [...]

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Government Caused this Crisis, Not Deregulation

March 27, 2009

One of the great sophistries of the current economic crisis, expounded by the President himself, is that it was caused by “deregulation.”  It sounds good in a stump speech, and some point to the modification of the Glass-Stegall Act in 1999, which allowed investment banks to compete against traditional banks, as the culprit of this [...]

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Tea Party Movement Gaining Strength

March 16, 2009

What started off as a simple comment by Rick Santelli on CNBC has grown into a nationwide grassroots movement.  Tea Party protests against the tax-and-spend and borrow until we’re broke policies of the Federal Government under Barack Obama.  The image above is a scene from this weekend’s tea party in Cincinnati, OH, which brought together [...]

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Banks Don’t Want Bailout Anymore

March 12, 2009

Banks are looking to return bailout money as Congress and the President attach more and more strings to the money.  It seems that the banks are just happy to go on their own when the Federal Government starts to put restrictions on how to run a business.  Besides restrictions on executive pay, which would seriously [...]

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Obama, Manchurian Candidate

March 10, 2009

First off, let me say that I do not believe that Obama is a Manchurian Candidate.  However, if Hollywood created a movie about a Manchurian Candidate for President, intent on taking down the United States, a better script could not have been written than that of the Obama administration.  This op-ed from Bloomberg News explores [...]

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Obamanomics: Radical or Incompetent?

March 9, 2009

Obama’s economic policies represent a greatest departure from the course of American Capitalism in a generation. Through the stimulus bill and Budget proposals, Obama is following in the footsteps of Herbert Hoover and FDR, both of whom had similar tax-and-spend policies coupled with severe trade restrictions that pushed our economy into a decades-long depression that [...]

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Cramer v. Obama

March 4, 2009

A war of words has been ignited between CNBC Financial Analyst Jim Cramer, host of Mad Money, and the Obama Administration.  Yesterday, Cramer lambasted the Obama administration for completely destroying the economy, stating that, among other things, we elected a Lenonist:

When asked about this, press secretary Robert Gibbs responded by insulting Cramer without refuting any [...]

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High-Society Welfare

February 23, 2009

The Boston Globe today ran a story about people who recently lost their jobs.  Rather, however, than talking about real hardships experienced by people, they are instead glowingly focusing on people who feel “liberated” (Hat Tip:  Mrs. Sal) and are doing such things as taking art history classes, going to museums, and spending time with [...]

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Why Pay Your Mortgage? Obama Will Bail You Out!

February 18, 2009

In order to respond to the economic crisis that was caused by the government’s meddling in the housing market, forcing banks to make bad loans to people who couldn’t afford them, the Obama Administration has proposed — making more bad loans to people who can’t afford them.  After spending $750+ billion on an economic stimulus, [...]

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Here a Trillion, There a Trillion

February 10, 2009

$9.7 trillion.  That is currently how much spending has been committed by the Federal government to fix this crisis in the last year.  Of that:

$800 Billion is from the now-certain stimulus
$700 Billion for the TARP Program
$170 Billion from the Bush stimulus last year
$5.4 Trillion spent or committed in bailout buyouts by the Federal Reserve, Federal [...]

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Could Blue-Dogs Hold the Key to Stopping Stimulus?

February 7, 2009

The Blue-Dog Democrats in the House have been somewhat disenchanted with the Democrat leadership, and have been wanting to flex their muscles.  They realize that they are in districts that could go Republican in 2010, and may be the key to defeating the stimulus package.  Today, a letter signed by 49 Blue Dog Democrats was [...]

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Steele Delivers Clear, Common-Sense Weekly Address

February 7, 2009

RNC Chair Michael Steele delivered the weekly Republican Address this morning, and made a clear case as to why the stimulus was horrible legislation and why Republicans have better ideas.  It was a clear, concise message, that spoke in common-sense terms to the American people.  With eight years of addresses by Bush (not the world’s [...]

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Squishy RINOs to Support Stimulus?

February 5, 2009

At least according to Harry Reid, there are at least two Republicans who will support the Porkulus Bill:
Senate Majority Leader Harry Reid (D-Nev.) told reporters Thursday that he has enough votes to pass a more than $900 billion stimulus bill out of the Senate.  Reid said he believes at least two Republicans of “good will” [...]

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Grow a Spine for a Ray of Hope

January 30, 2009

Rasmussen Reports has a new poll out showing that only 42 percent of the American people support Barack Obama’s stimulus package. That’s down three points from a week ago. Although the media will not report this lackluster showing for Obama’s plan or the fact that support is dropping with the same zeal they [...]

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Not Another Gang of 14!

January 30, 2009

With the Republicans keeping a united front against the Stimulus Bill (a.k.a. Generational Theft Act of 2009, a.k.a. the Pork-ulus bill), it now goes to the squishy Republicans in the Senate.  Will the Republicans hold the line?  It appears most likely not.  Sen. Ben Nelson (D-NE) is putting together a “gang” of so-called moderates, much [...]

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What Are We Doing Here?

January 28, 2009

I am getting the feeling that history books will look at this economic crisis and wonder what the hell we are doing?  It seems that the idea of billions and trillions of dollars has lost its shock value with the American People.  We had a $750 billion TARP bailout package, the FED has increased the [...]

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Update: Obama Looking to Squash Contraception from Stimulus

January 27, 2009

Barack Obama is apparently looking to squash the contraception provision from the Economic Stimulus Package, in a move designed to try to get Republican support for the bill.  This comes after a bonehead move by Nancy Pelosi where she tried to argue that contraception funding was indeed an economic stimulus. The leftwing nutroots are apparently [...]

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The Obama-Limbaugh Bi-Partisan Stimulus Act of 2009

January 26, 2009

Rush Limbaugh, in an effort to display what bi-partisanship really means, has decided to propose a bi-partisan solution to the current stimulus debate:
So let’s look at how the vote came out, shall we?  Fifty-three percent of voters in this country — we’ll say, for the sake of this proposal, 53% of Americans — voted for [...]

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The Road To Nationalization

January 26, 2009

The effort is underway by the Obama administration to begin the wide-scale nationalization of American private enterprise.  This nationalization will be far-reaching and touch several key industries, making it difficult to undo by future administrations.  Early indications suggest that this nationalization will touch three key industries:  Health-Care, Financial, and Automobile.
Health Care: It is no secret [...]

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Boehner Quantifies Stimulus Price Tag

January 19, 2009

John Boehner has been pushing the fact that if you take the current price tag of the Economic Stimulus Package ($825 billion) and divide that by the number of jobs that he says the plan will create (3 million new jobs), you end up with a price tag of $250,000 per job. Obama advisor David [...]

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Bailout, Part II

January 16, 2009

The remaining 350 billion of the $700 billion tarp bailout was released to the Treasury Thursday to do with as it sees fit.  A no-confidence vote was taken in the Senate, and it was defeated 52-42.  It needed passage in both houses to kill the rest of the bill, so any house vote is meaningless.
Add [...]

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Keynesian Skepticism

January 15, 2009

Economist N. Gregory Manikiw, a Professor of Economics at Harvard and former advisor to the Bush administration, has a piece at the New York Times today about the economic multiplier effect first posited by Keynes and popularized Paul Samuelson, author of early Economic textbooks.  In the piece, Manikiw examines the gap between the relative effectiveness [...]

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Bailout Fever Poses Problems for the Baseline

January 13, 2009

A common element of proponents of the current bailout / stimulus fever is the fact that it is required to fix the economy, and temporary.  Thus, the estimated budget deficit of 2009 of $1 Trillion is seen as unfortunate, but necessary.
In an editorial at Bloomberg, Kevin Hassett of the American Enterprise Institute points out how [...]

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Stossel on Economic Stimulus

January 10, 2009

John Stossel is one of the few Drive-By Media personalities who is right-of-center on most issues.  His “Give Me A Break” segments on ABC’s 20/20, along with his hour-long specials, are always enjoyable to watch and a refreshing break from the normal left-wing garbage that the Drive-by Media spills on a daily basis.
While I don’t [...]

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