Here’s a way to become cynical. You put time, effort, and money into building a huge home for a needy family. You even help raise money for a college fund. Then after the house is finished you see the family use it to get a $450,000 loan that can’t be repaid so the donated house […]
The Club for Growth is doing what it does best: holding Republicans accountable to the conservative principles they espouse. Their latest target is none other than Sen. John McCain. Club for Growth sent at letter to him after he left the door open to raising taxes to fix Social Security:
We listened with concern yesterday to […]
MSNBC actually claims the sluggish economy is the cause for increased pet kidnappings. [via NewsBusters.org]
Michael Boskin argues a President Barack Obama would raise taxes to levels not seen in three decades.
The White House expects the budget deficit to reach $482 billion in 2009.
One year after the subprime mortgage mess gripped the world economy the IMF […]
Banks have cut back on business loans. [via PrestoPundit]
Calculated Risk estimates the U.S. has 1.75 million excess housing units. Home prices won’t be rising for a while.
Mark Perry concludes stagnant oil exports combined with a growing world economy explains rising oil prices. “Nothing mysterious, nothing nefarious, and nothing to do with speculators.”
For Don Boudreaux “A […]
Maniakes at Dean’s World describes “public goods.” In the comments he and Dean get into whether the airwaves fit the definition.
For more on public goods there’s Tyler Cowen’s essay. Karl Fielding [PDF] challenges the nonexcludability aspect.
Save and Share:
These icons link to social bookmarking sites where readers can share and discover new web pages.
Wednesday the Federal Reserve released their latest Beige Book. That’s a collection of anecdotal evidence from regional Fed banks on the state of the economy. Not surprisingly the economy is sluggish:
Reports from the twelve Federal Reserve Districts suggest that the pace of economic activity slowed somewhat since the last report. Five eastern Districts noted a […]
For a quick push to get a Fannie Mae-Freddie Mac rescue in place blame Henry Paulson. He’s the one the White House is relying on for not vetoing $4 billion to have local and state governments buy foreclosed homes.
The Wall Street Journal editorial page calls the housing bill a “rout for taxpayers.”
The credit crisis has […]
William Watson passes along an interesting analogy about the Fannie Mae-Freddie Mac rescue from Henry Paulson:
To Senate Republicans worried they’re being asked to write a blank cheque for federal support to mortgage brontosauruses Fannie Mae and Freddie Mac, Treasury Secretary Henry Paulson offered an intriguing analogy on Tuesday: “If you’ve got a squirt gun in […]
For Megan McArdle the Senate voting to regulate speculators is beyond dumb. Then she explains their important role in liquidity and information-gathering.
The Congressional Budget Office guesses the cost of rescuing Fannie Mae and Freddie Mac could cost taxpayers anywhere from zero to $25 billion. It all depends on how the stock market reacts to the […]
The faltering economy means there will be more bank failures like IndyMac (not as many if Sen. Schumer keeps his big mouth shut). Let’s hope the FDIC doesn’t run the failed banks as badly as they did Superior Bank.
“FDIC Faces Mortgage Mess After Running Failed Bank” [via Protein Wisdom]
Save and Share:
These icons link to social […]
Technology developer Hank Williams looks at the economy since the last 90s that includes the dot com and real estate bubbles:
The point in all of this is that we have been trained to believe that there *is* a free lunch. We have learned the false lesson that we can, or should be able to make […]
Karl at Protein Wisdom and Erick Erickson both linked to the Wall Street Journal story about Sen. Obama’s fundraising chairman Penny Pritzker and her involvement with collapsed subprime mortgage lender Superior Bank.
Reporter John Emshwiller tries to make the story about a conflict with what the bank did and Obama’s statements about subprime lenders. But […]
Before Doha Round free trade talks can begin diplomats are dealing with Brazil’s Foreign Minister Celso Amorim accusing developed nations of using Goebbels-like tactics.
Peter Goodman puts the economy’s troubles in perspective and lays plenty of blame on the Federal Reserve.
Henry Paulson said banks are sound but “We’re going to be in a period of slow […]
By one vote the Argentinian Senate rejected an export food tax:
The Senate voted 37 to 36 to reject the system of floating-rate taxes that the government of President Cristina Fernández de Kirchner imposed in March without first consulting with her nation’s Congress.
The vote was a stunning turn of events in the four-month-old conflict that […]
Freddie Mac wants to sell $5.5 billion in stock to beef up its capital and registered with the SEC. Previous the mortgage giant didn’t have to file with the SEC like other publically-traded companies.
“Freddie Mac Registers With SEC, Capital Is Sufficient”
Save and Share:
These icons link to social bookmarking sites where readers can share and discover […]
