February 27, 2008 – 11:12 am
(Other than the fact that we earned $12 in interest income last year.)
I just did our taxes. This is the form from our TaxCut software* which shows our income matched against the national average.
I’m not an economist, but when the median income in this country is about $48,000, the rich have to be very, [...]
February 27, 2008 – 9:50 am
Inflation on the rise, foreclosures at records levels and the dollar’s in the toilet; have fun running on Republican fiscal responsibility, St. John! From our international banker this morning:
Heavy and continuing dollar sales for euro. Reportedly the dollar sales are coming from Chinese, Korean and Middle East names. The sales drove the US [...]
February 20, 2008 – 9:58 am
or as easy as pulling at your own bootstraps:
Poverty in early childhood poisons the brain, the American Association for the Advancement of Science meeting in Boston heard on Friday.
Neuroscientists said many children growing up in very poor families with low social status experience unhealthy levels of stress hormones, which impair their neural development. That effect [...]
February 19, 2008 – 3:36 pm
again:
U.S. stocks closed lower on Tuesday after a rally on Wall Street fizzled when the price of crude oil surged past $100 to a record high, adding to investor worries about inflation and slower U.S. economic growth.
Doesn’t its wrist ever get tired?
And can’t any of those record-profit-making oil companies manage to keep their refineries from [...]
February 8, 2008 – 10:38 am
The maple leaf rises. From our international banker this morning:
Jobs, jobs, jobs. It has been heartening to follow the employment growth in Canada and Australia over the past few years. If the US overly deteriorates maybe there is still some where we can go. Canada created 46,400 jobs in January after a loss of 2900 [...]
February 7, 2008 – 9:54 am
By a single vote, Senate Republicans on Wednesday blocked an expansive fiscal stimulus package championed by Democrats, as partisan rancor engulfed the effort to inject a quick burst of spending into the slowing economy.
…
The measure was opposed by Republican leaders who said the Democrats added too many costly provisions, including an extension of unemployment benefits, [...]
February 4, 2008 – 10:12 am
WASHINGTON - The Bush administration unveiled a massive $3.1-trillion budget Monday with soaring deficits.
Main features of the proposed spending plan call for sizable increases in military spending while protecting President George W. Bush’s signature tax cuts.
It shows the U.S. government spending at $3 trillion in a 12-month period for the first time in history.
Despite the [...]
January 25, 2008 – 7:30 pm
Why will it take until June to get that stimulus mad money out to you?
I.R.S. computer and other systems “are today fully engaged in processing 2007 tax returns,” the committee said Monday in a report. “As a result, it is not practical to contemplate distributing cash rebates until the peak filing season is completed, which [...]
January 25, 2008 – 4:27 pm
He was instrumental in the biggest financial meltdown in history, pushing banking deregulation and “creative” loan products that unwound the U.S. economy, but evidently it was all worth it:
Greenspan said on Thursday that subprime mortgages were risky, but they helped broaden home ownership.
During a speech to a financial audience in Vancouver, Greenspan said subprime mortgages [...]
January 25, 2008 – 4:24 pm
Even when you expect a piss-poor stimulus package, our democratic leaders can still limbo lower.
Pelosi and Reid got out their kneepads again, giving the GOP thugs the store while eeking out miniscule help for the working poor and the middle class in an economic stimulus package that will not put money into any individual’s pocket [...]
January 18, 2008 – 9:32 am
But even I can see gargantuan holes in this plan:
With the economy’s prospects growing bleaker seemingly by the day, politicians in both parties have rallied around the three Ts, the mantra that any stimulus package needs to be timely, targeted and temporary.
One might add the three Bs as well — the ability to deliver the [...]
January 15, 2008 – 10:01 am
For years, Braxton Berkley was exposed to chemicals while helping build top-secret military planes at Lockheed Martin’s storied Skunk Works plant. He says those chemicals made him ill — but his case reached a dead end at the state’s highest court.
The California Supreme Court has refused to hear his appeal not on legal merits, but [...]
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