January 7, 2009 1:36PM
Today’s Stories: Deficits, Cooked Books and Pet Tigers
By Brian Sullivan
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Stories I’m watching this Wednesday:
- Congressional Budget Office scares the heck out of everyone, sees recession lasting all year, deficit topping $1 trillion and unemployment climbing to more than 9% by 2010
- Economic damages turns personal (again) as real estate executive kills himself
- Family Dollar proves Wal-Mart doesn’t have monopoly on recession retailing
- PriceWaterhouseCoopers was auditor on Satyam’s cooked books
- Spanish scam of the decade? Indicted “urban planner” found to have billions in assets, palace and pet tiger
- What’s Vista? Microsoft readies the next Windows
- Seeking Alpha: new group may make run at Yahoo
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You can create 5 million government jobs, if they are all at $9 or even $15 an hour, that income will go directly into paying bills and what little is left over will go into savings. It will do nothing for the economy! Companies that continue to produce little new revenues and continue to lay off senior employees (those that make a decent salary and use it to buy the cars and appliances) will be gone. Somebody needs to answer (with no spinning) just how this reckless spending is going to actually help. Creating government jobs, large short term work projects, or worse yet telling companies to create worthless jobs, are a complete waste. It’s time for the bubbles to stop and actual manufacturing to start up again. That’s the solution! Also; as we are witnessing, unfettered capitalism is as bad as or worse than communism. We need to get back to regulating Wall St. or we need to just shut it down until if and when we can get things back under positive control!
Considering the title is Tigers, cooked books and deficit ?
I’d say 5,000 years ago ? when it was just Tigers ?
we were probably better off.
I read the Tiger will be extinct by 2010, but that was years ago.
I am watching how the sub fifty dollar oil will increase the turmoil in the middle east and Russia/ South America…many “leaders” depend on oil at 75+ to keep things stable.
If 9% is offered up, add 5.
The Congressional Budget Office is understating the problems!