The idea is still, nonetheless, ridiculous. So I was happy to see an article by Senate candidate Peter Schiff lampooning the idea of war being good for an economy (and stimulus in general) in his latest column Why Not Have Another World War. World War is key because obviously the two wars we’re fighting now “are simply too small.”
stimulus's archives
Tim Geithner Discusses Bailouts and Government Intervention
Treasury Secretary Timothy Geithner discusses the burdens of his position, why he felt it was necessary to bailout the financial system and the paternal role taken by the federal government:
under: Deficits, Dollar, Federal Reserve, Game Theory, Individual v. Collective, Live and Learn, Taxes, Treasury, Trust
Tags: bailout, Barack Obama, Ben Bernanke, bubbles, credit default swaps, derivatives, George Bush, Henry Paulson, home loans, housing, stimulus, Timothy Geithner, toxic debt, Treasury, underemployment, unemployment
The Deadweight Loss of Christmas
The spirit of the season is upon us. With Black Friday and Cyber Monday at our backs, rounding out those holiday wish lists for loved ones will consume the collective American conscious. With all of these efforts brought about by the desire to bring a smile to someone’s face, the wonder and awe of the Christmas season is truly something to be thankful for. But as chestnuts are roasting on my open fire, peppermint snow mocha’s cease to leave my hand and mistletoe is strategically placed around my home, I would be remiss if I failed to do the right thing: confront the deadweight loss of Christmas.
under: Complete Whimsy, Deficits, Dollar, Game Theory, Live and Learn
Tags: Black Friday, cash, Christmas, commidity, consumption, currency, Cyber Monday, deadweight loss, efficiency, Game Theory, gift cards, gifts, gold, Pareto optimal, precious metal, presents, Santa, Santa's elves, Scroogenomics, stimulus, store of value
Swift Wits: Savers Get Stung, Pay Czar Tackles AIG and Real Estate Keeps Deflating
As of today, few things would be less appealing in your portfolio then dollars. As the Federal Reserve pours liquid-ity into the economy through TARP, stimulus and bailouts, and the Federal Government runs record deficits, interest rates stay artificially low. Depressingly low. In fact, a quick surf of Bankrate.com tells me the highest yielding money market account currently available (MMA) is 1.81%, while the average yield comes in at a whopping 1.113%. (1) That means if a person has $20,000 of hard earned money stuffed away in a MMA, he or she will earn roughly $30/month in taxed income. Nice.
under: Deficits, Dollar, Federal Reserve, Individual v. Collective, Live and Learn, Taxes, Treasury, Trust
Tags: AIG, bailout, Bretton Woods, Deficits, Dollar, Federal Reserve, interest rates, Kenneth Feinberg, money supply, paradox of thrift, real estate deflation, real estate tax credit, Saving, social security, stimulus, Treasury
Obama Axes Pentagon Plan To Build Billion Dollar Tank In Shape Of Dragon
The prestigious Onion News Network reports President Obama has decided to cut spending, but not with stimulus dollars or TARP. Rather, Obama pulls the plug on plans to develop billion dollar dragon tank.
Job Hunt: Can Government “Create” Anything?
Said simply: the factors of production must be handled by free enterprise. The more factors of production the government seizes, the less efficient we become. Inefficiency lowers productivity, stifles competitiveness and lowers living standards.
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