Category: economics

why the downgrade s&p?

Some folks have asked why S&P downgraded. This makes it very easy to see… • U.S. Tax revenue: $2,170,000,000,000 • Federal budget: $3,820,000,000,000 • New debt: $1,650,000,000,000 • National debt: $14,271,000,000,000 • Recent budget cut: $38,500,000,000 Let’s remove 8 zeros and pretend it’s a household budget: • Annual family income: $21,700 • Money the family [Continue]

zazzle

So you may have noticed the ads from Zazzle over on the right of the page. I don’t get much from them, only when t-shirts or bumperstickers or whatever that I’ve designed are sold. There is some way to set it up so that if you were to click on Zazzle from my site and [Continue]

hedge fund manager calls obama to task

Unafraid In Greenwich Connecticut: “The President has just harshly castigated hedge fund managers for being unwilling to take his administration’s bid for their Chrysler bonds. He called them “speculators” who were “refusing to sacrifice like everyone else” and who wanted “to hold out for the prospect of an unjustified taxpayer-funded bailout.” The responses of hedge [Continue]

orson scott card on honest reporters

Would the Last Honest Reporter Please Turn On the Lights? “An open letter to the local daily paper — almost every local daily paper in America: I remember reading All the President’s Men and thinking: That’s journalism. You do what it takes to get the truth and you lay it before the public, because the [Continue]

the suicide of capitalism

The Suicide of Capitalism: “A coup d’état took place in this country during the past two weeks. If you didn’t notice, perhaps you were distracted by the Dolphins whipping the Chargers, or Tina Fey’s grotesque parodies of Sarah Palin, or perhaps you were immersed in blogs trying to prove that Barak Obama is a domestic [Continue]

common sense plan

More from Dave Ramsey: “Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps: Common [Continue]

pain

Bill Whittle’s newest article is up, Pain: “Every decision we make is based on a risk/reward calculation. If we take away the consequences of risky behavior, we will see more of it. And if there’s a money-back guarantee for greedy and stupid decisions, we’re in real trouble, because there is only so much money in [Continue]

dave ramsey: the way to fix the bailout

How We Can Clean Up A Lot of the Economic Problems: “Remember Enron, WorldCom, Adelphia, and other companies had artificially put assets on the books? They’d say something was worth $10M when they bought it, but eventually it decreased in value, and they never updated the value in the books. That was part of the [Continue]

skirt smoke? or real?

The Paulson Plan Will Make Money For Taxpayers Is this guy just blowing smoke up or skirts? Or is this for reals, yo? Dunno. Despite having taking accounting classess and in theory economics classes, I don’t know shit about all this, other than what I’ve read, so who know, but it’d be nice if we [Continue]