Category: "Economy"

Feb05

Stimulus Cuts?

Posted by Dave on 02/05/09  ~  Posted in: Political Ravings, Economy, Barack Obama  ~  4 feedbacks »

Rumors are flying that a group of "centrists" are working together to gut the current stimulus bill in the Senate. Some reports are saying upwards of $200 billion may be cut from it. [UPDATE: It now looks like it may be $80 billion, which is still… more »
Jan30

Senate passed SCHIP

Posted by Dave on 01/30/09  ~  Posted in: Economy  ~  Send feedback »

More excellent news from the US Congress - Senate passes bill to expand child health coverage:The Democratic-controlled Congress moved a step closer to handing President Barack Obama an early health care victory Thursday as the Senate passed a bill… more »
Jan28

Stimulus passes in the House

Posted by Dave on 01/28/09  ~  Posted in: Economy, Barack Obama  ~  2 feedbacks »

Step one of passing the Economic Recovery bill is done. Now it must get done in the Senate. Of course, zero Republicans voted for the bill. Let me repeat that. ZERO. Not one. Good thing President Obama felt the need to pander to the Republicans… more »
Jan27

Bailout against EFCA?

Posted by Dave on 01/27/09  ~  Posted in: Economy, Labor  ~  Send feedback »

Just lovely... Bailout Recipients Hosted Call To Defeat Key Labor Bill:Three days after receiving $25 billion in federal bailout funds, Bank of America Corp. hosted a conference call with conservative activists and business officials to organize… more »
Oct23

Free Market Flaws!?!?!?!?

Posted by Dave on 10/23/08  ~  Posted in: Economy  ~  Send feedback »

Greenspan Concedes to `Flaw' in His Market IdeologyFormer Federal Reserve Chairman Alan Greenspan said a "once-in-a-century credit tsunami" has engulfed financial markets and conceded that his free-market ideology shunning regulation was flawed. more »
Oct13

Market Surge

Posted by Dave on 10/13/08  ~  Posted in: Economy  ~  Send feedback »

After last week's devastating market crash, combined with a bad preceding few weeks, the market had dropped nearly 30% over the last month. It looks like people are starting to gain confidence again, with the Dow up 660 points (7.83%), the Nasdaq up… more »
Oct13

CRA, ACORN, and the Economic Crisis

Posted by Dave on 10/13/08  ~  Posted in: Economy  ~  Send feedback »

The Right has recently created a new bogeyman. And this is a big one - it caused the current economic crisis!!! Supposedly. The new bogeyman is the Community Reinvestment Act (CRA). The Community Reinvestment Act is:intended to encourage depository… more »
Oct09

Time to Panic?

Posted by Dave on 10/09/08  ~  Posted in: Economy  ~  Send feedback »

The Dow Jones dropped nearly 700 points today. That is more than a 7% drop, and it moves the Dow below 9000 points for the first time since May, 2003. So when do we start panicking and placing money under out mattresses? more »
Sep30

Kimmel on Palin

Posted by Dave on 09/30/08  ~  Posted in: Economy, Campaign 2008  ~  1 feedback »

Jimmy Kimmel on Palin:President Bush met with John McCain and Barack Obama. John McCain showed up without running mate Sarah Palin, which is a shame because she actually has a lot of experience with financial matters. You know, she lives right next to a… more »
Sep29

Which John McCain?

Posted by Dave on 09/29/08  ~  Posted in: Economy, Campaign 2008  ~  Send feedback »

From John McCain:Now is not the time to fix the blame. It's time to fix the problem From John McCain, in the same speech:Sen. Obama and his allies in Congress infused unnecessary partisanship into the process.From John McCain, two hours earlier:Barack… more »
Sep27

WaMu's CEO: Bagging $13.65 million in 18 days?

Posted by Dave on 09/27/08  ~  Posted in: Economy  ~  Send feedback »

WaMu's CEO: Bagging $13.65 million in 18 days?But there appears to be yet another interesting beneficiary: Alan Fishman. He is WaMu's CEO, who took the top job 18 days ago. As should be no surprise, he signed a juicy contract: a $7.5 million signing… more »
Sep26

Bono Knows Billions

Posted by Dave on 09/26/08  ~  Posted in: Economy  ~  3 feedbacks »

From Bono:"It's extraordinary to me that the United States can find $700 billion to save Wall Street and the entire G8 can't find $25 billion dollars to saved 25,000 children who die every day from preventable diseases." more »
Sep22

Transfer of Wealth

Posted by Dave on 09/22/08  ~  Posted in: Economy  ~  Send feedback »

From Bernie Sanders, on the Wall-Street bailouts:This proposal as presented is an unacceptable attempt to force middle income families (and our children) to pick up the cost of fixing the horrendous economic mess that is the product of the Bush… more »
Sep19

Enough?

Posted by Dave on 09/19/08  ~  Posted in: Economy  ~  Send feedback »

From a comment at AmericaBlog:How many times do we have to hear: We don't have ENOUGH MONEY to fix Social Security. We don't have ENOUGH MONEY to fix Medicare. We don't have ENOUGH MONEY to provide health care to ALL Americans. We don't have ENOUGH… more »
Sep17

Socialized Financial Industries and Priorities

Posted by Dave on 09/17/08  ~  Posted in: Economy  ~  Send feedback »

One of the attacks that the Right loves to use against Barack Obama is that he is a socialist, or at least that he has socialist policies. Yet, interestingly, you hear little commentary about the socialist policies of nationalizing the financial… more »
Sep15

Who do you put in charge?

Posted by Dave on 09/15/08  ~  Posted in: Economy, Campaign 2008  ~  Send feedback »

From Josh Marshall:The man most responsible for the financial services and banking deregulation that made today possible, fmr. Sen. Phil Gramm, is the man John McCain wants to put in charge of the whole economy. more »
Sep08

Sarah Palin, Fannie, and Freddie

Posted by Dave on 09/08/08  ~  Posted in: Economy, Campaign 2008  ~  1 feedback »

Sarah Palin is not ready to be the Vice President of the United State:Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to… more »
Sep07

Fannie and Freddie takeover

Posted by Dave on 09/07/08  ~  Posted in: Economy  ~  Send feedback »

I admit that I know nothing, and can add nothing, to the discussions about what the federal takeover of Fannie Mae and Freddie Mac will mean. But others know a lot more than I do, and CAN add to the conversation. You should take a look at these… more »
Aug16

John McCain and being rich

Posted by Dave on 08/16/08  ~  Posted in: Economy, Campaign 2008  ~  1 feedback »

In the Saddleback Civil Forum tonight, John McCain defined being "rich" as making five million dollars. Yup... you heard that. FIVE MILLION DOLLARS!! Huh? I guess we should expect that from a guy who owns eight different houses and wears $500… more »
Jul24

Minimum Wage Hike

Posted by Dave on 07/24/08  ~  Posted in: Economy, Labor  ~  Send feedback »

Today is a good day for many working people around the country as the minimum wage hike kicks in:The national minimum wage went up 70 cents on Thursday as the second of three planned increases mandated by Congress took effect. The national minimum wage… more »
Jun27

Its the Economy, Stupid

Posted by Dave on 06/27/08  ~  Posted in: Economy, Barack Obama, Campaign 2008  ~  Send feedback »

Tax Reform is a Religious Issue Obama takes on the top 1%:What is clear is that Obama intends to require those who have benefitted from the uneven prosperity of the last 10 years to give something back to the country that made that wealth possible.… more »
Jun13

Tax Policy

Posted by Dave on 06/13/08  ~  Posted in: Economy, Barack Obama, Campaign 2008  ~  3 feedbacks »

If you want to clearly understand the differences in tax policy between Barack Obama and John McCain, just read this. One wants to increase taxes on the rich, and cut taxes for everyone else. If you make under $111,646 you will pay less taxes under… more »
Apr07

Friday Numbers

Posted by Dave on 04/07/08  ~  Posted in: Economy, Campaign 2008, McCain - More of the Same  ~  6 feedbacks »

I know... it is Monday, but these numbers came out on Friday! 81% in Poll Say Nation Is Headed on Wrong Track. Shocking! But what is amazing about this is that John McCain, who is essentially George W. Bush, part two, is getting significant… more »
Feb25

Clinton and NAFTA

Posted by Dave on 02/25/08  ~  Posted in: Economy, Campaign 2008  ~  3 feedbacks »

Hillary Clinton has been trying really, really hard to pretend that she had nothing to do with the passage of NAFTA during her husband's administration. Even worse, she is pretending that she has always been opposed to it. Of course... historical… more »
Jan22

Fed Slashes Interest Rates

Posted by Dave on 01/22/08  ~  Posted in: Economy  ~  1 feedback »

Today will be very, very interesting on Wall Street. Actually, it already has been. Federal Reserve cuts interest rate three-quarters of a point to try to head off recession Stocks tumble at the openSo... does George Bush and the rest of the… more »

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