Archive for July 18th, 2009

Goldman, CIT And Capitalism: Some Musings

Prepare to be bored for here are some idle thoughts on a few of the events of the past week. To everyone’s surprise, there were a couple of events that indicate a faint glimmer of free market capitalism may yet exist in the land. First, one of the Swiss banks, I believe is was Credit […]

Wienermobile Runs Amok

Leaving no stone unturned in our quest to bring you the most cutting business news, we have this on a slow news Saturday. From WITI-TV: The Oscar Mayer Wienermobile got itself into quite a pickle when it crashed into a Racine home Friday morning. Neighbors tell FOX 6 the Wienermobile took a wrong turn and […]

Ireland Tries To Dig Out Of Its Fiscal Hole

Ambrose Evans-Pritchard writing in the Telegraph reviews the catastrophe that has befallen Ireland. Events have already forced Premier Brian Cowen to carry out the harshest assault yet seen on the public services of a modern Western state. He has passed two emergency budgets to stop the deficit soaring to 15pc of GDP. They have not […]

The Cataclysmic Decline In State Tax Revenues

Taxes collected by the fifty states fell a collective 11.7% in the first quarter of 2009 versus the first quarter of 2008. That’s the largest quarterly decline since 1962 when the government started keeping this statistic. You don’t need much more information to understand how desperate is the shape of state finances. Here’s a table […]