Archive for January 6th, 2009

Is The Sun Coming Up On The Economy?

OK, if any of you can figure this out let me know. I put up a post a couple down from this one that noted bankruptcies, plant closings and layoffs from some of the industrial titans of the world. At the same time, there’s an article in the WSJ that says that some pretty smart […]

Obama: The New Republican

Well this guy isn’t walking the walk or talking the talk of a spendthrift Democrat. President-elect Obama came out with some talk on government and deficits that would have been more expected from, oh say Ronald Reagan. In, perhaps a more detailed statement than has been seen so far, Mr. Obama acknowledged that the fiscal […]

Tobacco Is On The Democrats Hit List

I really wasn’t going to publish this picture of President-elect Obama. As a fellow smoker I know how embarassing these sorts of snapshots are. No, I was going to give him a free ride and not even say anything about the habit we both share but then he turned on me and I have no […]

More Industrial Weakness

Three reports from industrial giants today underscored the gravity of the recession. LyondellBasel Industries sought bankruptcy protection for its U.S. subsidiary. Lyondell is the third largest independent chemical company in the World. It is headquartered in Holland. Alcoaannounced the elimination of 15,000 jobs and said it plans to cut capital expenditures by 50%. The job […]

Fed Minutes Show Deep Concern About The Economy

The minutes of last month’s Federal Open Market Committee showed that there is deep concern about the economy among the members. That concern was not confined to just a downturn in the economy but also to a debilitating period of disinflation. Over the past several days, several other economists have come forth with fairly dire […]

Quote Of The Day

Capitalism in the United States has undergone profound modification, not just under the New Deal but through a consensus that continued to grow after the New Deal. Government in the U.S. today is a senior partner in every business in the country.                                                         Norman Cousins