GM and Chrysler get US$17.4 billion bailout

They’ve done it, the Detroit boys have managed to secure federal emergency loans to execute their plans to stay afloat ... stock, firms must accept limits on executive pay and eliminate perks such as corporate jets, debt owned ... and emissions requirements, and firms must not issue new dividends while in debt with the government. Ford [more...]

Date: 2008-12-21 09:09:13

Blog posts (402) | Videos (127)
 

I ain’t your Bee-yotch….bitch!

+++warning!  foul mouthed rant ahead!++++ Despite the fact that there are 4 other folks in my office at any given time, ... the collection agency to stop calling for an employee, they are legally required to stop”.  (see the Fair Debt Collection Practices Act, governed by the FTC) Trust me, I’ve quoted this law to these blood [more...]

Date: 2008-09-05 15:08:48

Eurozone and India: Policy Parallels

I’ve had a chance, over the past 10 days, to debate the details of what’s next for the macroeconomy with leading policymakers in both the ... it is already doing, given that government debt levels are already on the high side. The discordant note ... is already in bad shape. Sectors such as real estate and autos are hurting badly. Small businesses [more...]

Date: 2009-01-13 22:56:38

Wheel Barrow Based Monetary Policy

Anatole Kaletsky, who incidentally has been telling his readers to buy shares for two years, has flipped ... more money or buy government and corporate debt so that long term interest rates fall. Quantitative ... money), holding gold will be insurance as much as an investment. The economic prospect [more...]

Date: 2009-01-08 09:46:43

The Real Meaning of 'Stimulus'

From Victor Davis Hanson: For just one week we should ban the verb "stimulate" and the noun "stimulus" — and substitute instead the more honest "borrow," or "print," or "debt"; as in "The government plans to borrow another $1 trillion ... met to consider a $1 trillion debt program." But as it is now, the euphemisms only take us ever [more...]

Date: 2009-01-09 14:12:36

Starving the Unemployed

During the Bush administration, the federal debt ” nearly doubled,” going from $5.7 trillion to $10.6 trillion ... policy. Many denied that government could help, government is always the problem, never the solution ... of us were so worried about has now come to pass. Because of the high levels of government debt [more...]

Date: 2009-01-09 01:44:44

Live a More Peaceful Life with Debt Consolidation

Are you in trouble of handling your debt for you can not really manage the settlement? ... downsizing is daily stuff causing big number of lay offs. Fortunately, there is debt consolidation offered to you for freeing yourself from such a depression. There is government debt consolidation [more...]

Date: 2009-01-10 02:15:48

Truth About Filing Bankruptcy

I've been hearing a lot about houses being left abandoned in the States right now due to recession ... government debt consolidation loans much like the loans we have here in the Philippines from PAGIBIG ... is easily attainable with debt consolidation especially when there are reputable and non-profit credit [more...]

Date: 2008-12-02 13:38:57

When will the Recession end? Here's a collection of opinions.

This is the subject of my Mini poll which I invite you to vote in just below my Web site clock to the right ... global in New York.Don't count on debt-laden households to spend their way back to growth. As for banks ... , which means they are unlikely to throw open the cash spigots. The federal government is mired in debt [more...]

Date: 2009-01-04 07:44:00

The Brown Calculator

The Taxpayers' Alliance have produced a report examining Gordon Brown's economic reputation ... and the cost of administering the tax system has increased by at least 75 per cent.PUBLIC DEBT: Since the Government's commitment to match Conservative spending plans expired in 2000, public debt [more...]

Date: 2008-09-19 10:45:00

Wheel out the photocopiers, Darling!

Gordon Brown and Alistair Darling, yesterday. A few days ago, ... by billions and using the extra cash to buy assets ranging from government or commercial debt ... , the Telegraph has now cottoned on to the story... The Government is set to throw out the 165-year old law [more...]

Date: 2009-01-12 18:29:01

Summary of House Approved Auto Bailout Bill

(Source: U.S. House of Representatives, Office of the Majority Whip) ... viability, international competitiveness and energy efficiency, including repayment of government ... debt.  The President’s Designee may provide financial assistance to an Auto Manufacturer to implement [more...]

Date: 2008-12-11 05:25:20

Canaccord Adams on Four Likeliest Economic Scenarios for 2009

The vast number of one-of-a-kind events experienced recently make the coming year for capital markets very difficult to call. Lending by central banks and the velocity of money supply, massive refinancing of U.S. government debt, inflation or deflation, the direction of the U.S. dollar, an extremely weak consumer [more...]

Date: 2009-01-07 11:17:03

11.22.08: Gas Wars

Last week GM — once one of the largest, most powerful companies in the whole world — went begging for a government bailout, ... debt that the prospect of bailing out all these entitled knuckleheads seems less and less do-able ... to help these guys? They could give a shit about us! I feel bad for the working stiffs [more...]

Date: 2008-11-24 22:29:48

Experts confused by Dubai's transparency

The Financial Times: An understated press conference to announce details of the 2009 budget should have been a run-of-the-mill event ... us all that wiser in terms of actual spending and debt obligations,” said one economist. “There isn’t much ... the last official figure of about $50bn for 2006. The Dubai government has said its overall debt [more...]

Date: 2009-01-14 02:55:29

Debt Consolidation - How Obama is Making it Easier to Eliminate Credit Card Debt

Amazon.de Widgets Recent economic conditions and massive government spending have actually made it easier for consumers to eliminate credit card debt. The passage of the financial stimulus bills has given creditors much more flexibility when negotiating debt settlements. Not only do creditors have a lot of stimulus money to hedge their losses on debt settlements but they are also very worried about defaults on delinquent accounts. [more...]

Date: 2009-09-16 08:49:45

City Expects Bankruptcy of UK Government

]Merrill Lynch has issued a press release that: In our view, ... on government debt within the next five years. Meanwhile the British Chamber of Commerce ... are falling, and confidence is plummeting. All the critical national balances have worsened in Q4 [more...]

Date: 2009-01-15 13:39:19

Can Congress Bail Out of the Bailout? by Michael Hudson

Dandelion Salad by Michael Hudson Global Research, October 13, 2008 And what about the Fed’s Even Larger Giveaway? ... oligarchic elite, or in a debt cancellation, a Jubilee Year to rescue society. But when the government ... in a zero-sum game. A debt overhang always ends either in foreclosure of the debtor’s property [more...]

Date: 2008-10-14 00:46:15

College Students in Debt Find a Friend in MTV

Growing up as part of the MTV generation, I always thought of MTV as a source of entertainment that had an anti-establishment edge ... and government debt, and to promote action to help stop the fiscal crisis in the U.S.” How ... to educate college students about debt and financial responsibility. It may not be much help [more...]

Date: 2009-01-15 14:23:03

Where’s My Bailout?

Here’s the tally so far.  The Fed has bailed out Fannie Mae, Freddie Mac and AIG.  ( ... -cat Wall Street buddies rich.  The problem is, it may all be over, not with a scream, but with a whimper. According to the Government, we are in debt at least $10T.  Add to that the unfunded mandate [more...]

Date: 2009-01-14 23:11:22

What Henry Ford Knew

"An underpaid man is a customer reduced in purchasing power. He cannot buy. Business depression is caused by weakened purchasing power. Purchasing power is weakened by uncertainty or insufficiency of income. The cure of business ... --counting government loans, stock purchases, debt guarantees, and backdoor handouts by the Treasury [more...]

Date: 2009-01-11 23:58:00

Bull Moves in Bear Markets

In high school, I once dated a girl whose father believed the world was doomed to nuclear destruction. While his family lived in a trailer house ( ... world currencies. Government debt is out of control. Instead of solving the problem sensibly [more...]

Date: 2008-11-04 12:00:11

Interest Rates Have "One Too Many"

by The Mogambo Guru The bartender bent down real close to my face so that I could not miss him, and since that is never a good sign, ... debt so that it yields exactly zero! Zero! Hahaha!" At this, the bartender walks away, muttering ... that, but he almost did when he wrote that 'investors imagine that U.S. government debt, and the currency [more...]

Date: 2009-01-08 01:41:18

"Deflation has become inevitable"

I'm reproducing the bulk of a very good (and possibly final) ... eventually to retreat even from government debt. He argues that they will tire at throwing good money ... that the high risk spreads are due to deleveraging, not distrust) but it is a serious issue if true [more...]

Date: 2008-12-13 07:47:30

Debt collection tactics come under scrutiny

Debt collection firms may face a government crackdown amid concern about the "aggressive" tactics used by some, such as chasing the wrong people and refusing to deal with debt advisory services. Gareth Thomas, the consumer minister, told the Guardian he had summoned the debt collection industry's main trade [more...]

Date: 2008-11-18 00:06:10

Britain is now 'bankrupt', Tories claim

Tuesday, 13 January 2009 Britain is now "bankrupt" following the sharp increase in Government borrowing ... to international bodies for financial assistance. He pointed out that expected Government debt ... .At the launch of a nationwide advertising campaign to highlight the sharp increase in public debt [more...]

Date: 2009-01-13 07:27:00

The first law that should be repealed in the United States is the 2005 Bankruptcy Bill: Will Obama eliminate debt slavery?

Our centralized government representatives would like us to believe that the subprime mortgage crisis was not expected, however, ... American citizen from this scam? In 2005, they created Debt Slavery by passing The Bankruptcy Bill. After years of lobbying, the “dream bill for credit card and financial service companies” finally came [more...]

Date: 2008-11-17 18:10:02

Thursday morning links

#fullpost{display:inline;}TOP STORIESRegulators adopt new credit card rules - APTrade-Protection Threat in China, Russia, U.S ... - MarketWatch“The Biggest Bubble Of All . . . U.S. Government Debt” - George Washington BlogMARKETS ... -Funded Downpayment Assistance" Loans - ML-ImplodeRealtors: State home prices have a brutal 2008 - SF [more...]

Date: 2008-12-18 14:13:00

Back at you on GM argument

by cactusGeneral Motors and Social Security - Two Sides of the Same CoinThere's a group of folks out there who are busy pinning the blame for GM's ... is only being exacerbated now, when the government is taking on additional new debt to cover ... worse under Republican Presidents and been alleviated under Democratic Presidents - debt held [more...]

Date: 2008-11-29 12:39:00

Goldman Sachs Tax Rate Drops To 1%

Very, very bad public relations. And I thought it was bad PR when the auto company CEOs flew to Congress in private jets to ask for a bailout ... billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes ... is cause for concern. “This problem is larger than Goldman Sachs,” Doggett said. “With the right [more...]

Date: 2008-12-17 22:22:54

Why Can’t We Just Learn to Live Together?

There’s a rather angry exchange going on in econ-blog land ... be financed. The additional government debt means that existing current resources just move from one use ... national income accounting to know that that is what he is assuming. He does not understand [more...]

Date: 2009-01-15 14:58:35

Credit Crisis Fallout: Investors Leery of Buying Government Debt As Calendar Grows

One of the underlying assumptions of the Fed's and many other central banks' response to the credit crisis is that it can be halted, and hopefully remedied, by having the government backstop the troubled financial sector. One template is not to repeat the supposed mistakes of the Great Depression and Japan's post bubble era, [more...]

Date: 2008-11-15 05:17:29

NZ economy faces stagnation

WELLINGTON (New Zealand) - NEW Zealand's battered economy faces a year of stagnation with no recovery in sight until 2010, ... to liberalize the economy, reform regulations and revive confidence in a deeply negative business sector ... the unemployment rate climb to 7.5 per cent from 4.3 per cent now. Government debt was forecast to rise [more...]

Date: 2009-01-15 08:14:00

Peter Schiff Talks Treasury Bubble

Peter Schiff is out with a piece discussing treasuries, entitled 'The Fed's Bubble Trouble ... and agency debt, to fall through the floor, pushing ... . Just as the U.S. government issues mountains of new debt to finance the multi-trillion annual deficits planned [more...]

Date: 2009-01-15 14:03:00

Quantitative easing: the case for ‘printing money’

‘Brown plans to print more money’ was the front-page headline on tonight’s Evening Standard, ... or buy government and corporate debt so that long term interest rates fall. Quantitative easing ... point up the hyper-inflation of Weimar Germany, while Mason pointed out that comparisons with Zimbabwe [more...]

Date: 2009-01-08 00:08:59

US Interest Rates Zero to 0.25% and soon 4.5% US mortgages

Hale Bonddad Steward at Huffington Post has a lot of charts that show the bad financial situation ... to refinance a mortgage at 4.5%. The Fed and the Treasury appear ready to start buying up large quantities of securities -- government debt, mortgages, commercial loans, even stocks -- from banks [more...]

Date: 2008-12-16 20:29:22

That Makes Me Stabby: Do We Have an Obligation to Spend?

The other day I was watching CNN. (I need to stop doing that. It tends to make me stabby.) ... . I didn’t buy multiple cars I didn’t need. I didn’t let mounds of credit card pile up without panicking ... , not permanently. As I said yesterday, we need to pay down our debt, but the government also needs to fund [more...]

Date: 2009-01-15 01:51:12

Republicans Sounding Like Republicans

Well, at least starting to. We'll see how long it lasts, and whether they can actually get anything done ( ... s debt tops $10 trillion. The big-government approach is supported by President-Elect Obama ... jobs. We want to alleviate debt for future generations – by avoiding a trillion dollar spending spree [more...]

Date: 2009-01-14 18:54:14

The Most Important Number for Technology Policy in 2009

Is $1,200,000,000,000.00.  That’s the expected 2009 Federal budget deficit.  Since the current Federal debt is estimated at a “mere” $10.6 trillion, this means that we’re expected to add nearly 9% in a single year to a debt accumulated ... in history as the man who finally caused the U.S. government to default on its unmanageable debt [more...]

Date: 2009-01-08 20:59:16

$1.2 Trillion Deficit & You - #TCOT #diggcon #statebooks #pork

Bill Smith, ARRA Editor: As President-elect Obama and congressional Democrats propose various ideas for a potential $1 trillion stimulus bill, ... massive national debt. The Post writes, “At $775 billion over two years, the package under discussion would represent a massive and risky expansion of the federal debt even if the government were [more...]

Date: 2009-01-07 17:58:00

Those car town housing blues

Well, it sure is interesting what a little financial Armageddon will do to folks. Some friends emailed me this weekend with a problem. They’re in an Ontario town heavily ... , the government’s sinking into a pit of debt and the news is going [more...]

Date: 2009-01-09 01:45:45

Agriculture incomes are rising and investors are bullish as AgChoices conference nears

Alberta farmers and ranchers will gather in Red Deer on February 11th to discuss new opportunities and ideas in agribusiness ... instruments, like asset-backed debt, become increasingly complex and, as it turns out, worthless, a certain ... , understand that inflation is an irresistible tool of government even when compared against taxes and debt [more...]

Date: 2009-01-12 05:54:40

Foreign Central Banks Maintain Steady Agency Debt Selloff Pace

"Our inaction did not hamper credit markets — it helped to destroy them ... of the government guarantee on Agency Debt (now officially "effective"). This week a Bloomberg story 1 gives ... SFAS 140 and the QSPE off-balance-sheet deals they govern are supposed to constitute a risk [more...]

Date: 2008-10-31 07:05:02

Deregulation Japan-style: on the (local) grog

Author: Luke Nottage (with thanks to Ichiro Araki) ... of much accumulated government debt. The country was then hit by the collapse of its export markets ... , evident in product safety or consumer credit re-regulation. On the other hand, deregulation [more...]

Date: 2009-01-15 05:00:05

FANNIE AND FREDDIE MAC ON THE BRINK

Continued sharp slide in shares of mortgage finance firms raises new concerns about need for new capital, threat of government takeover [ ... , or about half the mortgage debt in the country. They play a central role in the U.S. housing market ... of the companies if their problems worsen. The shares started to erase early losses when word came [more...]

Date: 2008-07-11 15:26:26

Parsing Mr. Paulson’s Bailout Speech: The Unprecedented Giveaway of Financial Wealth by Michael Hudson

Dandelion Salad by Michael Hudson Global Research, October 18, 2008 Mr ... of Wall Street (but not the rest of the economy!) sustain a debt overhead that is growing exponentially? Is there any limit to the amount of U.S. Treasury debt that the government can create and turn [more...]

Date: 2008-10-19 12:58:26

Flotsam and Jetsam

Flotsam and Jetsam Jennifer Rubin - 01.04.2009 - 9:28 AM Gloria Steinem comes up with a good idea (yes, she’s long overdue) ... to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history ... all that debt might be a problem for the U.S. government? Some others are worried about a “time bomb” given [more...]

Date: 2009-01-04 14:28:49

Some words for NESTA Investments

In a recent TechCrunch article, Nick Halstead of fav.or.it wrote some observations on the government’s new debt-related support interventions for small and medium businesses.  For odd reasons, though, he concluded the article with a brief “scathing” [more...]

Date: 2009-01-15 16:58:26

A Novel Approach to Debt Management

by The Mogambo Guru I thought I was dreaming when I read on Bloomberg ... of U.S. government debt amid the worst financial crisis since the Great Depression ... of four-week bills today at zero percent for the first time since it began selling the debt in 2001 [more...]

Date: 2008-12-23 21:14:49

Goodhart says ‘sack’ DMO to bolster UK economy

Professor Goodhart is one of the rare central bankers who fully understands monetary operations and therefore recognizes as ... the UK Debt Management Office and refrain from issuing government bonds as a way of bolstering ... that I would like to see, in a sense to get us out of the present problem, would be very simple,” Goodhart [more...]

Date: 2009-01-14 13:26:56

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