Saturday, March 8, 2008


American employers slashed 63000 jobs in February.
Office automation!

Save a buck

Friday, March 7, 2008

Retirement Funds

"Chief executives of three financial companies who received outsize pay packages even as their shareholders lost billions in the spreading credit crisis are scheduled to testify before Congress on Friday

Mr. Mozilo received about $120 million in compensation and proceeds from sales of Countrywide in 2007, while Mr. O’Neal walked away from Merrill Lynch with a $161 million retirement package."

Source: GretchenMorgenson, New York Times

The limo is in the ditch. Take the jet.

Football Follies

All American Football League
Since inception, the League's finances have been indirectly tied to the $300 billion federally guaranteed student loan asset backed securities market. [...] Every effort is being made to insure that the '08 season will be played as planned, but this depends upon a locating new majority owner with the needed liquidity [...] Otherwise, the inaugural season will be postponed to '09.

The league said Thursday in an e-mail that a new majority owner is needed to salvage the inaugural season, less than a week before training camps are set to open.

Maybe they will get stimulus money for nothing. It was never about the money.

High end going higher

"The Economic Stimulus Act of 2008 seeks to boost the economy by raising the number of Freddie Mac and Fannie Mae-backed mortgages in pricey areas." Matt Woolsey, Forbes

News blurb.
Washington Post, United States - 4 hours ago
The devaluation of Carlyle's holdings in AAA-rated home-mortgage-backed bonds from Fannie Mae and Freddie Mac reflects the spreading turmoil in the capital ...

If they make everything more expensive, it will all be better.

Out of ignorance

"WASHINGTON -- Oooops! When Congress and the White House put together the recent bipartisan $150 billion economic stimulus package, they raised the maximum mortgage limits in high-cost areas for Fannie Mae, Freddie Mac and the Federal Housing Administration. But lawmakers neglected to include a similar increase for the government's primary home purchase program for veterans -- VA-backed loans."

"Department of Veterans Affairs declined to discuss the matter, saying in an e-mail that the "VA cannot comment on why Congress crafted the (stimulus) in the manner in which they did.""

Ken Harney,

Thank a homeless Vet.

Everything will cost more...

Stimulus money is on the way!

If consumers have or can borrow so much money that they try to buy more goods than can be produced by plants running at capacity, this spending only bids up prices and makes the same amount of goods cost more.

If merchants and others try to increase their stocks so as to profit by the rise in prices, they bid up prices further.