Exasperated by the Obama Administration’s embrace of extraordinary powers, and the simultaneous campaign to persuade us that this isn’t happening, I’ve decided that a more visual approach is in order.
The origins of the deflation in real estate values are rather easily explained if we look at recent history. The forces that allowed housing prices to go beyond the ability of most Americans to pay for it were, among other things, adjustable rate mortgages and the growing income disparity in America. Greed and foolishness did the rest.
Two financial experts, businessman Warren Buffett and economist Paul Krugman, have taken the Obama Administration to task today for not doing enough to correct the economy. While their concerns and recommendations differ somewhat, their sense of urgency is clear.
General Motors and General Electric, two of the biggest manufacturing companies in the United States, have both been identified as having uncertain futures this week. What does that mean for the economy? Nothing good if those predictions are true.
There are plenty of people who are already willing to blame President Obama for wrecking the economy. Nate Silver has discovered one more reason that they’re wrong.
After the departure of the much celebrated Deborah Howell from the ombudsman position at the Washington Post, some may have feared that the new ombudsman might have misinterpreted his job description. Happily, I can report that doesn’t appear to be the case.
When “free market economists” recommend that you nationalize the banks, it just might be a good idea. It will be expensive and messy, but many of us contributed to this huge problem.
On Monday, Republican Senators blocked an amendment to the stimulus bill that would have added about $25 billion dollars for infrastructure spending. This article was a reaction I wrote on Tuesday. Think of it as a companion piece to klynn’s diary today on the subject of the value of infrastructure spending.
While I was over at FireDogLake reading Ian Welch’s article about the stimulus bill, the mystery of why Congress has done the things it’s done regarding our financial crisis finally was answered, at least for me. Specifically, I’m referring pouring $700 billion dollars down the crapper that we call our banking industry, while wringing its hands about anything that might create jobs for people who don’t have them at the moment.
President Obama’s choices for Secretary of Health and Human Services and Surgeon General indicate that universal health coverage won’t happen during an Obama Administration. If it does, odds are we won’t like it very much.