UPDATE 5-Ecuador defaults, says to fight “monster” creditors
This may be our future, and maybe for our children and grandchildren….really. My problem is, although we see weekly and monthly estimates of the costs of these bailouts, and we are reassured that folks like AIG will pay the taxpayer back someday…when congress turns down more bailout money and the executive branch goes ahead with an end run and finds a way to grant it…HOW MUCH ARE WE AS TAXPAYERS GOING TO BE RESPONSIBLE FOR?
This is a rhetorical question…but the government appears to be saying whatever we think we need to spend.
I posted this old ex-senator yesterday (and lawyer and actor)…but his final bit of wit is exactly what bothers me….
I feel like the guy in Tiffanys when the price tags are turned over…”If you have to ask how much, you can’t afford it.”…..
The hand is the cure, and the hand dictates an equal an opposite amount of pain. The hand is just.
"It is generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges." —John Maynard Keynes
Proving that how one feels don't necessarily translate to how they act, the first look at March U of M confidence fell to 72.5 from 73.6 and matches a 4 month low and is 1.5 pts below expectations. Both Current Conditions and the Outlook fell. One year inflation expectations rose .1% to 2.8%, matching the highest since Oct '09, likely due to the slow creep higher in gasoline prices which last night hit a fresh 17 month high. The key to confidence is the labor market and notwithstanding the improvement in retail sales, the labor market picture is still uncertain....
December 13th, 2008 at 4:47 pm
The last panel says it all “Stay Tuned for the Thrilling Conclusion”
Well, someone else beat us to it…
http://www.reuters.com/article/etfNews/idUSN1254958620081212
UPDATE 5-Ecuador defaults, says to fight “monster” creditors
This may be our future, and maybe for our children and grandchildren….really. My problem is, although we see weekly and monthly estimates of the costs of these bailouts, and we are reassured that folks like AIG will pay the taxpayer back someday…when congress turns down more bailout money and the executive branch goes ahead with an end run and finds a way to grant it…HOW MUCH ARE WE AS TAXPAYERS GOING TO BE RESPONSIBLE FOR?
This is a rhetorical question…but the government appears to be saying whatever we think we need to spend.
I posted this old ex-senator yesterday (and lawyer and actor)…but his final bit of wit is exactly what bothers me….
I feel like the guy in Tiffanys when the price tags are turned over…”If you have to ask how much, you can’t afford it.”…..
http://blip.tv/file/1528079
Fred Thompson on the Economy
December 13th, 2008 at 5:24 pm
The hand is the cure, and the hand dictates an equal an opposite amount of pain. The hand is just.