The Best Article I’ve Read On The Banking Situation
Anything that is too big to fail is too big to exist.
The Economic News from Margaritaville
[Hat tip to Stumpy for the link]
Wheee!
From the Atlantic’s How the Crash Will Reshape America: “No place in the United States is likely to escape a long and deep recession. Nonetheless, as the crisis continues to spread outward from New York, through industrial centers like Detroit, and into the Sun Belt, it will undoubtedly settle much more heavily on some places [...]
Someone Tell Me Why This Is A Bad Idea
Jon Stewart’s idea for the stimulus package is the best I’ve heard yet. While the guest in the clip below doesn’t really respond to it, one of this week’s guests, a guy who wrote a book about what President Obama needs to know about the economy, thought it was a good idea. Watch below, then [...]
Now That I’ve Graduated…
From Alternet’s Are Students the New Indentured Servants?: “College student-loan debt has revived the spirit of indenture for a sizable proportion of contemporary Americans…Because of its unprecedented and escalating amounts, it is a major constraint that looms over the lives of those so contracted, binding individuals for a significant part of their future work lives. [...]
I Have A Warm Feeling
As I was reading how Obama counters Bush on auto standards, I was overcome by a warm feeling. President Obama is doing things that just make common sense, and it’s what this country has been missing for the last decade.
With the recession at full speed, it’s comforting to know that that things are changing. We [...]
Krugman on Obamas’ Stimulus
From Paul Krugman’s Bad Faith Economics: “As a public service, let me try to debunk some of the major antistimulus arguments that have already surfaced. Any time you hear someone reciting one of these arguments, write him or her off as a dishonest flack.”
Bailout Who For What Again?
From Organization & Market’s In Praise of the US Auto Industry: “The proposed bailout of GM, Ford, and Chrysler overlooks an important fact. The US has one of the most vibrant, dynamic, and efficient automobile industries in the world. It produces several million cars, trucks, and SUVs per year, employing (in 2006) 402,800 Americans at [...]
This Really Is The Only Answer
From Seth Godin’s What to do about Detroit: “Not only should Congress encourage/facilitate the organized bankruptcy of the Big Three, but it should also make it easy for them to be replaced by 500 new car companies. Or perhaps a thousand. That’s how many car companies there were 90 years ago. That’s right, when all [...]
One Reason Detroit Should Be Allowed To Fail
From ABC News’ Big Three CEOs Flew Private Jets to Plead for Public Funds: “The CEOs of the big three automakers flew to the nation’s capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid [...]
