2009 January

Market Week in Review

President Obama, like so many in the Democratic party, idolizes Franklin Roosevelt. He has called for a new New Deal, portions of which are passing through the pork grinder called Congress and spent most of his campaign playing class warrior. In perfect Rooseveltian fashion, he spent the last week tongue lashing Wall Street over their pay .. read more

Hybrid Bank Bailout Plan

The Obama administration’s plan for bailing out the banking system is morphing into a hybrid plan: The nation’s top economic officials are discussing a new way to stabilize the financial system by buying a portion of banks’ bad assets and offering guarantees against future losses on some of the remainder, in an effort to help .. read more

On January 30th, 2009, posted in: Economy by Tags: ,

Economic Report: 4th Quarter US GDP Report

Update: GDP Revised Lower According to the Bureau of Economic Analysis, US gross domestic product- the output of goods and services produced by labor and property located in the United States - expanded by 1.3% for all of 2008, the weakest rate of economic growth since 2001. For the latest quarter, GDP fell 3.8%, after a contraction of 0.5% in .. read more

Economists Against Stimulus

President Obama: “There is no disagreement that we need action by our government, a recovery plan that will help jumpstart the economy.”  ”With all due respect, Mr. President, that is not true.” Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the .. read more

On January 29th, 2009, posted in: Economy by Tags:

Bailout? Never Mind

From Alhambra friend Doug Terry: Though only a small percentage, many small banks around the country have rescinded their original requests for a piece of the government’s $700bn bank bailout funds.  The presidents of these banks have concluded that they would prefer no assistance to the prospect of giving our elected officials a seat at .. read more

The Height of Irresponsibility

President Obama today: “When I saw an article today that indicates that Wall Street bankers had given themselves $20 billion worth of bonuses, the same amount of bonuses as they gave themselves in 2004, at a time when most of these institutions are teetering on collapse and they are asking for taxpayers to help sustain .. read more

On January 29th, 2009, posted in: Economy by Tags: 3 Comment

Corporate Tax Rates By Country – OECD

The Organization for Economic Co-operation and Development (OECD) is an international organization of 30 countries that accept the principles of a free-market economy. Most OECD members are high-income economies and are regarded as developed countries. The organization publishes research and statistics on a wide variety of subjects, including analysis and forecasts on economic developments and trends, research on social changes .. read more

Economic Report: New Home Sales

Sales of new homes in the US declined to their lowest levels in 46 years, after a lackluster December in which sales fell by a stomach-wrenching 14.7%. Sales fell to a seasonally adjusted annual rate of 331,000, the lowest ever since the series began in 1963. The report was far below expectations, as economists were predicting a number closer to 390,000. The government estimates that .. read more

On January 29th, 2009, posted in: Markets by Tags: , 3 Comment