Knowledge Oil is Power
Here's Your Hat... Rick Wagoner, CEO of GM, has announced an urgent need to spend more time with his family, or at least that's what Obama told him to say. GM is seeking another $16 billion to waste making cars no one is buying.
Howard! Someone needs to wake up the citizenry to Geithner's plan to give private investors billions of dollars at the taxpayers' risk.
Previews: The Iraqi government is attempting to disarm Sunni militias after two days of an uprising in Baghdad. The Sunni "Sons of Iraq" were paid and bribed with guns by Petraeus as part of his brilliant plan - which is coming unraveled. The Sunni's don't particularly want to be defenseless when confronting the Shia government. Isn't this where we came in?
Surprise? A vast computer spying operation has infiltrated computers in 103 nations around the globe and has stolen documents from both government and private offices. It seems to emanate from China, not the CIA. This time.
Take a Hike: Auto sales in the first half of March were down 40%, YoY.
Housing Market Explained: As long as there is excess inventory, house prices will fall.
Mission Creep: The FDIC is an independent US government agency that exists to provide deopsit insurance coverage for member bank depositors. End of story. Nothing in the enabling legislation suggest it should be guaranteeing debt from or loans to private entities wanting to buy bad loans from bad banks with taxpayer money.
Looting 2.0: The Geithner plan is the codification of a system that is high-risk capitalism for the poor and unlimited socialism for the rich, perpetually.
Emperor, Clothes: Obama is pitching a new, sustainable economy based on "responsible homeowners" who "save and invest". To that end the Treasury keeps pouring treasure into the banks and bullies. I've not seen the part of the plan that converts an economy dependent on insatiable consumption to one based on "saving and investing." Nor have I seen the secret annex where the wages of the multitudes are raised.
What if they gave a bond auction and nobody came? Oh, they did.
Say What? The Fed is printing money (monetizing treasuries) in an effort to lower interest rates, which in theory should encourage people to borrow and spend. Yet Treasury yields increased last week. Didn't Ben say 'please'?
Economic Snapshot: The fundamentals behind the new and improved stock market, clearly explained and fully illustrated.
2 comments:
Regarding fantasies of a sustainable economy based on savings and investment, when the stimulus was being debated lots of congress-critters came out AGAINST tipping it toward the unwashed because "they would just save it" and thus it wouldn't work. So, I am a little confused. Am I supposed to be responsible and save and invest, or take out a mortgage and speculate in Citi?
Good shot across the bow of CEOs whose salaries are 400 times worker salaries.
The auto industry lobbyists had their heyday by having SUVs, which were to be classified as trucks, reclassified as automobiles, much to the delight of the oil barons.
If the US needs the blueprint of the auto industry, send one of every machine and its operating instruction to two separate storage locations. Toyota and Tata Motor Services are more than capable of making automobiles.
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