While every one from the President on down was outraged about the AIG $165 million dollar bonus payouts, something much much bigger was going on. No one was talking about the $1 trillion dollars the U.S. government printed yesterday out of thin air to help stave off a depression. It seems the Federal Reserve pumped $1 trillion dollars in the economy on Wednesday.
Archive for March, 2009
What was really happening while they raged about the AIG bonuses
Posted in Economy, Government, money, tagged depression, Economy, federal reserve, Glen Back, hyperinflation, recession on March 20, 2009 | Leave a Comment »
Nancy Pelosi pisses me off
Posted in Government, current events, politics, tagged border, current events, immigration, Nancy Pelosi, Obama, president on March 19, 2009 | Leave a Comment »
Excuse the language but if I’m going to blog, I may as well speak what I feel. I watched the news today and saw Speaker Pelosi as she spoke to a group of mostly illegal immigrants in San Francisco . She told them that it is un-American for us to enforce the immigration laws.
President Obama promises No Earmarks but will sign budget with over $8 billion in earmark items
Posted in Economy, Government, current events, tagged CNN, earmarks, Economy, Government, Obama, president on March 9, 2009 | Leave a Comment »
I listened today to CNN’s State of the Union with John King. He was interviewing Budget Director Peter Orszag. He asked him repeatedly why a president who campaigned on promises of not doing things the way they’ve always been done in Washington and promised to eliminate earmark spending projects would sign a budget bill with over 8000 earmarks in it.
Maybe this recession / depression will reset us to reality
Posted in Economy, Family, cars, current events, money, tagged credit, depression, Economy, economy.automotive, real estate, recession, Sleep on March 7, 2009 | Leave a Comment »
I listened to an economist the other day on a business news channel who said that basically the prosperity of the last decade was all a lie. A lie built on credit. People borrowed money they didn’t have to buy houses and cars and stock they really couldn’t afford.
They say we may recover back to were we were in about 3-5 years. Personally I hope we never get back there. I hope that this time has the effect on our generation that the depression and WWII had on our grandparents and parents.
Fiddling with the economy while Rome burns
Posted in Business, Daily update, Economy, Government, current events, money, politics, tagged bailout, current events, Dow, Economy, Government, Obama, Stock Market, Wall Street on March 3, 2009 | Leave a Comment »
Today the Dow drop to it’s lowest point since 1997 at 6763 down 299 points in one day. The Dow Jones Industrial has gone down almost 24% since President Obama was inaugurated. Now I’m not saying it went down because he was inaugurated. It has gone down because of the spending policies of Congress and the Obama administration.
