“We’re working along a program that has been applied in various contexts,” he said. “We’re not completely in the dark.” Emphasis added. So Bernanke really is saying he’s in the dark. Just not “completely.” Maybe he has a match to see by. Or one of those little LED lights. Perhaps a glow-stick?
And I thought Bush was bad: In addition to sending Congress his $3.55 trillion budget plan for 2010, Obama proposed more immediate changes that would push spending to $3.94 trillion in the current year. That would result in a record deficit Obama projects will hit $1.75 trillion, reflecting the massive spending being undertaken to battle […]
How much lower can stocks go? Todd Salamone of Schaeffer’s Investment Research believes the current market dip may be worse than the steep declines in November. Why? “Because there is less fear in the market than there was just three months ago … Moreover, unlike late 2008, investors have little to look forward to in […]
David Boaz reminds us of the story of the Ant and the Grasshopper: In a field one summer’s day a Grasshopper was hopping about, chirping and singing to its heart’s content. An Ant passed by, bearing along with great toil an ear of corn he was taking to the nest. “Why not come and chat […]
Looks like Denninger’s new bank idea is getting some traction. Is there hope yet for the future of civilization? There has been a small but increasing amount of attention being given to the “good bank” idea: instead of creating a government entity to buy toxic assets from existin banks – or nationalizing existing banks, removing […]
In his response, Gibbs insisted that the plan will not help people who acted irresponsibly. “It won’t help somebody trying to flip a house. It won’t bail out an investor looking to make a quick buck,” Gibbs said. “It won’t help speculators that were betting on a risky market. And it is not going to […]
To think that I was just a couple blocks from this story, right out of the Onion, kind of makes me sad. I missed an opportunity to go laugh at stupid rich kids. “Not allowing us bathroom rights is a human-rights violation!” Emily Stainkamp, an 18-year-old freshman, said from her cellphone inside the cafeteria. The […]