Aren't we fortunate that Bernanke's subject of expertise as an economist is

The Great Depression.

"Surprise" Rate cut tomorrow?

Question of the day

Will the CEO of Goldman Sachs in the USA give back his "2007 bonus" of 106 MILLION dollars?

Who in their right mind would want to own a company that pays the CEO 106 million dollar in bonusses. Those times are gone, no shareholder will keep up with that. They will be paid a few hundred thousands a year for the next decade. Nope, the good times for Wallstreet are finally over.

I don't think Buffett timed this one well: GS

It was never my intention to make this an

economics blog...

But the changes we are going through are so life changing for each one of us that I have to report about these disasters.
They way the politicians are handling this situation is totally ... out of control.

Their actions lack any basic economics logic.

Congress is owned by corporate America. Using 700 billion, they could have given EVERY family in the US $7000. That is at least the mortgage for 3 months, now that money is going to bonusses of CEO's on Wallstreet. It is a DISGRACE!

Let's revisit the bailout list

This was the list of 2 months ago, September 16th, 1 day after Lehman Brothers collapsed.

UPDATE in italic
FED's Bailout list
Bear Stearns: check
Fannie Mae: check
Freddie Mac: check
AIG: check
Washington Mutual: check
Citigroup: insolvent, laid off 53000 employees Monday, no one knows how much they got from the Treasury, will probably be bailed out this weekend by Paulson and friends with OUR money, 6 dollar stock
General Motors: GMAC bankrupt, GM is insolvent, bailout is imminent, cash for 4-6 weeks, 2 dollar stock
Ford: insolvent, bailout combined with GM and Chrysler?,cash for operations for 4-6 months, 1 dollar stock
Airlines:

Bankrupt Iceland ... predicted ... the CARRY TRADE for dummies

Recorded in April 2007, 19 months ago!
From my favorite reporter Max Keiser:

Maricopa Weather

WaaaaaaaaaaaaaaaW

Is it time to close the National money hole?

Monthly trip

As a family, we want to take a monthly trip in Arizona. This year, we visited Sedona and Tucson. This weekend we will be going to Tucson again. We'll be staying here.

All trips are bought through priceline.com, the roulette of travel. This hotel resort was $60 a night.

Pics will be posted Sunday.

As expected

the corporate owned US government is going to bailout EVERY company in the US. The USA can now officially be called "bailout nation" where it doesn't matter what you do, the government will never let you fail. There is no capitalism left in the US, communism rules EVEN with a Republican President.
In an economy based on capitalism, the bad companies go bankrupt, the good ones take over the assets from the bad companies and thrive. There were numerous banks that didn't get caught into the MBS web. They should be rewarded and should gain market share. However the US government interferes with the free market and we saw earlier that the public and the stockmarket don't like that one little bit.

Lehman Brothers, Bear Stearns, AIG, Fannie May, Freddie Mac, all other banks, GM, Ford, Chrysler, ALL airlines, ...

This will not have a happy ending.

Propping up bankrupt companies will result in hyperinflation and we all know who the Germans chose to solve the problems after the Weimar Republic collapsed... HITLER!

No Credit = No car buying --> Buy 1, get ONE FREE

Question of the day

Are you a chump?

Quote of the day

"I don’t think it's a good use of taxpayer money to put taxpayer capital into an institution that's going to fail."


Neel Kashkari, the Treasury’s Interim Assistant Secretary for Financial Stability.

During his testimony: LINK

Countdown to UFC 91 Couture - Lesnar

24 hours to go, WaaaW I'm excited!

Free link to the live stream

Let's take a look at what the experts are saying

All mutual funds are down, but this hedge fund is up 30% year to date. What are they saying:

superfund

Air James

Every dollar that is thrown into the bottemless pitts of the banks

is a dollar that could have been used to get people into real, sustainable jobs...

The government is going to make this economic recession worse and worse and worse and ...

Are you embarrassed Mr President?

On the day President-elect Obama is visiting theWhite House, a new national poll suggests that the current occupant at 1600Pennsylvania Avenue is the most unpopular president since approval ratings were first measured more than six decades ago.

"No other president's disapproval rating has gone higher than 70 percent. Bush has managed to do that three times so far this year," said CNN PollingDirector Keating Holland.

Bush's approval rating at an all-time, record low

After being the dumbest president ever, he is now officially the WORST president EVER.

No, the 700 billion gift to the banks was NOT a good idea

The word is starting to get out.

Many Americans are understandably outraged by the bailout fever that has gripped Washington this year. But even those who believe the bailouts are a "necessary evil" would have a hard time defending some of the bailout-related items that have come to light in recent days, including:

-->Financial institutions using TARP bailout money to pay executive bonuses. (50 BILLION!!!)

-->The Fed refusing to reveal who received almost $2 trillion in non-TARP loans, or what collateral it has accepted from "emergency" loans made to struggling firms, as Bloomberg reports.

-->The Treasury Department providing a tax break to banks involved in acquisitions that could amount to $140 billion.

Gifts + Corruption = MOB

His dream finally came true

He would have been so proud!