Economics

Bailing Out The House Flippers

By Jim Vicevich | February 18, 2009 |

I will post more details as they become available. But the thrust of the plan is simple. Help homeowners who are underwater or can’t afford the monthly payment. * Enable refinancing for 4 million to 5 million “responsible” homeowners who took out conforming 30-year fixed mortgages with an 80 percent or lower loan-to-value ratio and…

How ’bout that $7.69 a week?

By Jim Vicevich | February 18, 2009 |

Last night Neil Cavuto interviewed New York Congressman Anthony Weiner. Weiner was pushing the $800 billion dollar stimulus package as the answer to our needs. He made special mention of the crummy middle class tax cut, which is not a tax cut at all but rather a transfer payment. That aside, even as a transfer…

Geithner’s financial stability plan – cryptic and incomplete

By Erik Blazynski | February 14, 2009 |

I took a look at Geithner’s financial stability plan. There is an aspect that I think is interesting. A creation of a fund that will hold these bad bank assets. The fund would seek private investment as well as gov’t money. That is an interesting idea. The rest of the speech was basically telling us that they have not finished the plan.

Banker explains why he turned down TARP funds: “Strings”

By Jim Vicevich | February 12, 2009 |

The banker is Steve Buster, CEO of California community bank “Mechanics”. Alexis Glick conducts the interview and it’s a great one. Part one, Buster tells Glick they wanted the money, could have used the money but it came with too many strings. httpv://www.youtube.com/watch?v=-3cub9XHaog Here in Part Two Glick asks … “what strings?”. Buster says they…

More proof Democrats let financial crisis happen

By Steve McGough | February 11, 2009 |

For those of you not paying attention, during the past 72 hours the financial crisis has been clearly explained more than a few times, and now the main stream media is catching up. Jim Angle – Fox News contributor – has a great video report that sums up the crisis again. The truth will be told.…

Heads we lose, Tails they win…

By Dave in EH | February 10, 2009 |

GM has unveiled at least two portions of their recovery plan, submitted to and funded by the First, the bad news… “General Motors Corp. will cut 10,000 jobs, or 14% of its salaried work force, this year as the auto maker struggles to cope with a steep drop in world-wide vehicle sales. The job cuts…

The New Welfare State – video added

By Jim Vicevich | February 10, 2009 |

When new is old … and scary too. Two stories jumped out at me this morning and they are worth noting.

We’re already spreading the wealth around

By Steve McGough | February 9, 2009 |

Barak Obama had an impromptu conversation with Joe Wurzelbacher, a plumber from Ohio. Wurzelbacher is living the American dream. He’s paying more and more taxes and he’s not happy about it. He asked Obama about his tax plan, “your new tax plan is going to tax me more, isn’t it”? Well of course Obama proclaimed.…

“Old” Schooling George Stephanopoulos

By Jim Vicevich | February 8, 2009 |

The debate is raging over whether any spending on anything of any kind is stimulating to the economy. Pell grants, schools, bridges, ATVs, Honey Bees, grass on the mall, etc. doesn’t grow the economy. The work is temporary and requires taking money from citizens. But alas White House Advisor and ABC host of This Week,…

John McCain:”Generational Theft”

By Jim Vicevich | February 8, 2009 |

John McCain on with Bob Schieffer this morning on Face The Nation. The question Uncle Bob put to McCain was the standard … “why won’t you support the stimulus? Isn’t even a bad bill better than nothing”. McCain’s response … are you nuts … this is a trillion dollars … or at least that’s what…