June 2009

Someone sent me this ... hilarious. Enjoy and have a great 4th of July.   Im off until Monday. http://www.youtube.com/watch?v=ekKk4SkiC-w&feature=related ... read more

Tuesday reading... Home prices "only" falling 18% from last year AIG may need more taxpayer money Why GM will never repay our $50 billion Why Madoff couldn't have acted alone Iraqi oil auction ends with a big yawn The chicken plant battle over jobs and the economy Huge new hotel planned for next to Sears Tower An already cold and rainy season ... read more

The 150 year jail sentence of Bernard Madoff is meant to be a statement to scam artists in training: don't even think about committing financial fraud.    But will Madoff's life sentence and the government's rush to create new regulation help prevent economic fraud in the future?    History, American behavior and even wine tell us it won't. Frank Partnoy's excellent book "The Match ... read more

The President today outlined more steps to decrease fossil fuel usage in America.   One of his recommendations was greater use of CFL bulbs for household lighting, replacing the older, less energy efficient incandescent bulbs. For what it's worth I have already done this in my home with most lights, though only those that are not in places where I read because I have found the light ... read more

What I'm reading today: Brookings also calls budget outlook 'scary' (check out my blog Friday on the latest CBO report) FBN Exclusive: The government nearly allowed AIG to go bust Banks now going after debit card users Why financial reforms won't prevent another crisis The argument for a second stimulus package Fed seeks millions from baseball players in alleged Stanford ... read more

The official word from America's top financial cop is that our nation is facing a very simple 50/50 proposition:  stop massive government spending or risk going broke. While the passing of the King of Pop grabs the headlines,  something far more shocking came out of Washington last night in the form of the latest long-term budget outlook from the Congressional Budget Office. At more than ... read more

Stories I'm reading this Wednesday: OECD says the U.S. will lead the world out of recession New home sales still not recovering Durable goods numbers though surprised to the upside Big oil ready for big gamble in Iraq Citigroup raising salaries to offset lower bonuses Red Roof Inn defaults on debt .. most of it owned by ... read more

The Fed makes its interest rate decision tomorrow.   I put decision in quotes above because the Fed is expected to do absolutely zilch with rates.    The rate is set at 0-0.25% right now and absolutely no one sees this going higher. Still, as always its the brief statement accompanying the decision at 2:15pm ET that really matters.  Fox Business will cover it. Below is a chart of the ... read more

Stories I'm reading this Tuesday: Ford, Nissan and upstart Tesla Motors get government loans Nissan CEO "not worried" about selling electric cars Another Boeing Dreamliner delay Bernie Madoff's lawyer asks court for only a 12 year sentence Many Dems don't care about higher taxes ... so long as taxes don't go up for everyone Is a North Korean vessel carrying weapons to Burma read more

Chart on the May existing home sales figure. ... read more