California And The Great State Bailout
Muscle man Arnold Schwarzenegger has told the California legislature that the state is out of money. California’s budget deficit is up $3.6 billion since the last estimate early this year. The deficit is now…
Economy
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Newest first · Page 397The Spanish Inquisition Comes For Henry Paulson
A man runs from a burning house covered with soot and with his hair and clothing aflame. A fireman stops him and asks, "What was your strategy for coming out of the front door…
California Out Of Cash
It isn’t even Michigan. At least with the car companies about to go under there would be some excuse. California says it will run out of money on Monday.
More Good News From Forecasters, S&P At 400
James Tobin won the Nobel prize for economics in 1969. By his measurement of the stock market, the S&P has a very long way to drop. Keep in mind that there are nuts everywhere…
The Stupidity Of Attacking Paulson
The board that Congress appointed to take on the job of keeping track of how Henry Paulson was spending his bailout fund is about to make its first report. That may determine whether Treasury…
Winner Of Nobel Economics Prize Seems Crestfallen
Winning the Nobel Prize should brighten the spirit, especially since it comes with a $1.3 million cash prize. Not so for Paul Krugman, this year’s winner for economics. He is simply too depressed about…
More Changes Of Heart On The Credit Crisis
Experts have been making predictions about when the credit crisis would end since several Wall St. CEOs said it was almost over this summer. A number of economists say the downturn could go on…
As Downturn Spreads, Business Failures Could Be Key To Depth Of Trouble
Cutting jobs is one thing. Going out of business is another. As it becomes clear that millions of jobs will be lost by companies which are weak but will probably make it through the…
As Economic Concerns Spread, Even Healthier Companies Cut Further
One of the hallmarks of this recession is that even healthy companies are willing to cut costs and cut them more than once. HP (HPQ) laid off 24,000 people a month ago, ostensibly because…
New Changewave Survey Shows Economy Going To Heck
Changewave, the research firm, is out with its survey of 3,029 business people. Some highlights: "More than half of respondents (51%) project that their company sales will come in Below Plan for the 4th…
Unemployment’s Road Bump On Way to Over 8%
Today was supposed to be all about the employment and jobs data. The data is out and it isn’t pretty. November’s unemployment rate hit a new recent high of 6.7%. The November non-farm payrolls…
What 20,000 Jobs Lost A Day Means
Big companies lost 30,000 jobs yesterday. Those are the public companies which had to come clean. Who knows how many jobs were lost at smaller companies. Businesses with under 100 people supposedly have over…
California Moves To Confederate Dollars For Monetary System
People still keep Confederate Dollars. They have not been worth anything since 1864, but they are a nice collectors item and evoke memories of brother killing brother. Now, the State of California is collecting…
CEOs Cutting Sales, Cap-Ex, & Employment Expectations
The Business Roundtable CEO Economic Outlook Index shows much more caution than optimism. This reflects expected sales, capital expenditures and employment figures over the next six months. The survey index fell down to 16.5…
Weekly Jobless Claims Obscured by Turkey & Bread Lines
The weekly jobless claims just came out at a drop of 21,000 to 509,000. Economists were looking for a roughly 540,000 who applied for benefits. Last week’s initial report of 529,000 was also revised…