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The ‘Bailouts’ were Frauds and Shakedowns

by Len Hart, The Existentialist Cowboy

The wrong people got the bailouts. One can find daily confirmation of that. Most recently, according to the L.A. Times, the Fed predicted that higher jobless rates, may become a long-term fixture, perhaps a permanent characteristic of the U.S. economy. This bad news follows the Commerce Department’s […]

Election Postmortem: A Picture of Dorian Gray

by Len Hart, The Existentialist Cowboy

It is said that insanity is repeating a failed strategy in the expectation of one day getting a different result. Because that never happens, the nation is nuts! Just enough people always vote against their own interests to guarantee that wealth will continue to ‘trickle up’, that […]

Is the economy doing better or worse under the Obama Administration? The Short Answer is “Better.”

by Reverend Manny and the Twilight Empire

While President Obama has only served two years as the head of the Executive Branch, he has managed to accomplish quite a few things. Among my favorites is how Obama created over 3.3 million jobs with the stimulus spending, thus avoiding a national economic crisis. To […]

A Party of Panic and Depression

by Len Hart, The Existentialist Cowboy The administration of Ronald Reagan ushered in a depression of some two years, the longest and deepest since Hoover’s Great Depression of the 1930s. Millions were put out of work. Many businesses, entire industries never recovered. The Reagan depression followed a GOP tax cut benefiting only the […]

Failed State Update with Krugman and Roberts

by Len Hart, The Existentialist Cowboy

In theory, a near worthless dollar is great for American manufacturers, American jobs. Lower costs for American goods means US exports should rise, reducing our trade deficit and helping pay off the national debt! That’s the theory, the rationale behind Richard Nixon’s decision to take the […]

America’s Foreign Policy Suffers – Unemployment Soars – Religion Goes Toxic

US worldviews world’s apart

By Jim Lobe: WASHINGTON – While the ongoing financial crisis has almost entirely displaced foreign policy and even the Iraq War as the main concern of voters in the United States, differences in approach to the world beyond US borders between Republican candidate Senator John McCain […]

KEATING ECONOMICS: John McCain & The Making of a Financial Crisis

John McCain would like everyone to forget he was one of five Senators up to their corrupt behinds in the The Keating Five Savings & Loan scandal of the 1980s and early 1990s. The Senate Ethics Committee stated “Senator McCain exercised poor judgment.” Somethings never change.

In a July 1996, General Accounting […]

Breaking: Senate Passes Rescue Bill

Washington Post

By a vote of 74-25, the Senate just approved the revised version of the $700 billion Wall Street rescue bill rejected Monday by the House.

The bill now heads to the House for a vote, likely on Friday. Some of the revisions included in the Senate bill were designed to win […]

It’s Not About Wall Street…Stupid

I really don’t know if I am tired of every one throwing amount the wrong term “bailout” or the Americas stupidity on how the economy works. While many believe that the bailout is about Wall Street the true fact is this is a “credit market” crisis. Which is a far cry from the […]

Wall Street Twists and Turns in Agony, $1.3 Trillion Plunge

World reaction to the historic Wall St fall For Stocks, Worst Single-Day Drop in Two Decades US bail-out rejection stuns markets

‘Shocking scenes’

John Terrett, Al Jazeera’s correspondent in New York, said “I’ve never seen anything like this before.

IN DEPTH The US bail-out package

“We’re seeing quite literally shocking scenes on […]