Economics

WSJ Reports Stimulus Not Working

About the best we can say about yesterday’s June jobs report is that employment is usually a lagging economic indicator. At least we hope it is, because the loss of 467,000 jobs for the month is one more sign that the economy still hasn’t hit bottom despite months of epic fiscal and monetary reflation.
The report… »

Obama to Businesses: DROP DEAD!

Bloomberg, June 8 — I’ve finally figured out the Obama economic strategy. President Barack Obama and his team have been having so much fun wielding dictatorial power while rescuing “failed” firms, that they have developed a scheme to gain the same power over every business. The plan is to enact policies that are so anticompetitive… »

Obama, GM & The Great Power Grab

by Gene King
The news that General Motors was filing for bankruptcy was one of the biggest anti-climatic stories imaginable. Most Americans felt the fix was in. Bankruptcy was a foregone conclusion by many economists and political pundits who, at the start of the year, said that the billions of dollars being poured into the… »

Government Intrusion Pushes Mortgage Rates UP

NEW YORK AP — The Federal Reserve announced a $1.2 trillion plan three months ago designed to push down mortgage rates and breathe life into the housing market.
But this and other big government spending programs are turning out to have the opposite effect. Rates for mortgages and U.S. Treasury debt are now marching… »

Did Anti-Obama Campaign Contributions Dictate which Chrysler dealers were Shuttered?

Doug Ross at directorblue.blogspot.com reports that almost all Chrysler dealers being forced to close were GOP supporters.  Chrysler claims they considered a variety of factors when choosing which dealers would be forced to close, so it’s interesting they all have this one thing in common.
A tipster alerted me to an interesting assertion. A… »

Obama’s Central Economic Activity IS Corruption

George Will: The Obama administration’s agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration’s central activity — the political allocation of wealth and opportunity —… »

SOCIALISTS TURN AGAINST OBAMA

From the World Socialist Website (wsws.org), the Socialists are pounding Obama for what he is doing with the auto unions.  They are furious.  They were never this angry at George Bush.  You know that socialists always oppose "ownership".  Well, now that the UAW owns Chrysler, they now oppose the UAW, and therefore Obama.  … »

Chrysler Won’t Repay Federal Bailout ‘loans’

Obama is not being the good steward of our money that he said he would be.  Just last week the Obama administration approved an additional $3.2 billion in bailout loans.  This week they say it will never be repaid.  This amounts to a $7.2 gift to the UAW.

NEW YORK (CNNMoney.com) — Chrysler LLC will not… »

Businesses Crumble Under White House Threats & Intimidation

This alarming story provides us with the first hard evidence that the Obama administration is engaged in a soft tyranny – and not always so soft.  Former Obama supporters now claim fear in wake of intimidation from the White House. BusinessInsider.com Creditors to Chrysler describe negotiations with the company and the Obama administration as "a… »

“Stimulus” Nightmare

From last night’s (2/9/09) first press conference with President Obama:

Obama: “The Federal government is the only entity left with the resources to get the economy going again.”

*The federal government doesn’t have the resources! It is going to borrow and print money in a futile attempt to create the “resources”. This will make things even worse…. »