Archive for February, 2009

CEO Of KB Homes Takes A Paycut

File this one under cajones. The LA Times reports that KB Homes CEO Jerrfey Mezger received $9.6 million in compensation last year. The company lost nearly $1 billion last year and its stock lost 42% of its value. Mezger did take a 41% paycut, if that makes you feel any better about this. But wait, [...]

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Global Depression Looms For All But The U.S.?

About all it takes to make one feel less depressed about the economy of the U.S. is to take a short trip around the world. Join me for a quick look. The export oriented economies of Asia are literally imploding. Leading the pack is Japan. Industrial production there dropped 10% between December and January. Exports [...]

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The Obama Budget: Doomed From The Start?

Will the grand plans of the Obama budget be sabotaged by the economy? There are more than a few people predicting just that sort of fate. Much of the template for significantly increased spending funded by tax increases and revisions depends on some fairly optimistic projections for economic growth. The plan counts on 3.2% growth [...]

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Warren Buffett’s Annual Letter To Shareholders-A Must Read

  The Oracle of Omaha released his annual report this morning and with it the always important Chairmans letter. Here is a link to the entire report and it is also embedded belo (if you are having trouble reading the embedded copy below, here is a link to a better copy). Do take some time to read [...]

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Will Personal Consumption Follow This Trend Line?

The WSJ Real Time Economics blog has an interesting post. Here is a graph from it:

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Quote Of The Day

Why bloggers are good for the country. Government in the last analysis is organised opinion. Where there is little or no public opinion, there is likely to be bad government, which sooner or later becomes autocratic government.                                                  William Lyon Mackenzie King

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A Couple Fed Presidents Have Sharply Different Views Of The Fed’s Activities

Two Fed Presidents have expressed conflicting views of the current activities of the Fed. The difference underscores the fact that there are members of the inner circle that fear the Fed has gone beyond its mandate and in the process jeopardized its independence. Charles Plosser, President of the Philadelphia Fed, is in the uncomfortable camp. [...]

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