Doing some research on the recent stimulus package, I came across some fascinating Moody’s data regarding the $152 billion Economic Stimulus Act of 2008. How did the stimulus “stimulate”? Tax-cuts, of course! The stimulus of 2008 was a necessary follow-up to the 2003 stimulus, otherwise known as the “Bush tax cuts.”
The entire Bush administration was [...]
Money
Stimulus Bang for the Buck
March 16, 2009
Is ‘Vilification’ the Cause of Our Pain?
March 11, 2009
Jamie Dimon, CEO of JPMorgan Chase & Co., said today
“When I hear the constant vilification of corporate America, I personally don’t understand it. I would ask a lot of our folks in government to stop doing it because I think it’s hurting our country.”
Now, cheap populism is easy, and its getting a bit tired. But [...]
The Real Dow Jones
March 9, 2009
If you’re like me, you’ve been paying a lot more attention to the Dow Jones Industrial Average since October, looking at long term trends, fluctuations in the market and the effects of events in history, especially the Great Depression.
While there are limitations to an index based on such a small number of companies, the Dow [...]
Bank of England to Print £150bn
March 6, 2009
The Guardian reports that the Bank of England, having exhausted lowering interest rates to the point of 0.5% (the lowest rate in the Bank’s 315-year history), has been authorized by chancellor Alistair Darling to increase the money supply to the tune of roughly 10% of the nation’s annual economic output, £150 billion ($211bn USD).
Not wanting [...]