Posted by Bill on September 18, 2008 at 5:57 pm
Because of the economy, and many failed policy decisions by our politicians, not only big businesses like AIG and Bear Stearns are feeling the pinch. The forgotten victims of the housing crisis are the many displaced families.
A recent news story at MSNBC highlights what is going on in Reno, Nevada. After emergency winter shelters closed for the summer, a number of tents cropped up by the railroad. Within a few weeks, over 150 people were living in what had become a “tent city.”
Many of the people living in these tents were at once hopeful of getting a casino job. But interviews in the story indicate that casinos are actually starting to lay off employees. Read the rest of this entry »
Archived under Housing
Posted by Bill on September 17, 2008 at 12:49 pm
In a troubled economy, finding a good bargain can help us stretch our dollars even further. I personally enjoy golfing, and one of the best golf deals I have come across is from a company named Warrior Custom Golf.
Warrior Custom Golf is giving away a free custom golf wedge or a hybrid golf club. The catch you ask? Simply signup for their newsletter and get the special promotion code. They do charge a small shipping and handling charge, but it is well worth it considering the quality of the club. Read the rest of this entry »
Archived under Bargains
Posted by Bill on September 17, 2008 at 1:32 am
Just when I thought President Bush could not piss any more of our tax dollars away, now his Administration has provided $85 billion to bailout insurance giant AIG.
This latest bailout comes on the heels of $50 billion of our tax dollars pumped into the market to ease the credit crunch.
As each week passes, President Bush and his Administration is handing our tax dollars over to the same companies that sold, managed, and insured sub-prime mortgages. What the President is doing is rewarding the failure of these companies and the damage they caused to many families across this nation.
At what point will this President stop wasting our money? Between the Iraq War, and the bailouts, President Bush is pushing close to a trillion dollars in wasted spending! Any other President would have been tossed out of office, but none of the politicians we elected are prepared to do the job we elected them to do. And that job is to represent the people.
If President Bush is going to bail anyone out, it should be the victims - the citizens that were duped into these high cost loans. That would have done a few things. First, it would have helped families keep a roof over their head. Second, it would have stabilized home values. And finally it would have helped the overall economy.
What President Bush is doing is nothing short of a band-aid fix. The reason why these banks and insurance companies are going belly up is because people are losing their life’s possessions and can’t afford to pay their mortgages. There is a lack of jobs, high costs of health insurance, and energy expenses that have eroded each citizen’s purchasing power. President Bush has ignored the causes of the economic problems in this country and has chosen to throw billions of dollars at the result of the problems. This is yet another failure feather George W. Bush can put in his hat.
It is going to take many years to recover from the financial impact of the bailouts and the Iraq War. And this money will need to be replenished at a time when Social Security and Medicare are going broke. This country is going downhill at full speed, and nobody has their hands on the wheel or foot on the brake. And most taxpayers seem to have their heads in their asses and could care less. Shame on those people!
Many citizens of this country can’t afford to pay their bills, let alone repay all this debt. It’s time that Congress stepped in and demanded a halt to these bailouts. This is the people’s money, and it should be spent on helping the people - not those that have screwed citizens.
Archived under Economy
Posted by Bill on September 15, 2008 at 1:08 am
If you live in the Cleveland Ohio area, and read the Cleveland Plain Dealer, you probably understand that the Plain Dealer strongly opposes the sick time issue that will be voted on in November. The question is why.
Before I answer the “why” question, let’s look at what this issue is about. The issue is called the “Healthy Families Act.” If approved by voters, the law would require employers to provide their employees seven paid six days per year, which could be carried over into the following years if unused. It’s important to note that this law would only apply to companies that have 25 or more workers. Read the rest of this entry »
Archived under Cleveland
Posted by Bill on September 15, 2008 at 12:38 am
In yet another blow to the American economy, news reports indicate that Lehman Brothers will file for bankruptcy protection.
How a 158 year old company can go from a high flyer to a dud is simply unbelievable. The greed that has gripped this country, the corporations, and the politicians, has reached an all time high. Without the help of taxpayers, this country would be facing certain economic collapse.
Fortunately for taxpayers, the government (actually our tax dollars) will not bail out Lehman Brothers. This is a good thing. In a free marketplace, there needs to be failure which allows the marketplace to shift and fill in the void. Unfortunately though, taxpayers are still on the hook for billions of dollars because of the Fannie Mae and Freddie Mac bailouts. Read the rest of this entry »
Archived under Economy
Posted by Bill on June 10, 2008 at 8:52 am
Ohio is one of those states that relies heavily on property taxes to fuel its ever bulging budget. So it comes as no surprise that the State of Ohio is concerned that the recent downturn in the economy is going to cut into their revenue.
On a whole, property values in my city have taken a huge hit. Homes on the market for $200,000 ultimately have sold for $170,000. And the wait to sell is extremely long. The house across the street from my residence sold after being on the market for nine months, and it too was sold at an extremely discounted price.
Read the rest of this entry »
Archived under Ohio
Posted by Bill on June 6, 2008 at 11:24 am
Stretched to the point of breaking, many American citizens are coping with high fuel and food prices at a time that their largest investments (their homes) are shrinking in value. Adding to this already stoked fire is the poor employment conditions.
Today, Government released statistics show that the unemployment rate rose from 5% in April to a whopping 5.5% in May. This is the largest increase in unemployment since 1986. In the month of May, employers cut 49,000 jobs. So far this year, the United States of America has shed 324,000 jobs. Read the rest of this entry »
Archived under Economy
Posted by Bill on May 23, 2008 at 11:30 am
With Memorial Day weekend just about to start, consumers are shocked to find that gasoline prices have risen to over $4 a gallon for regular unleaded fuel.
It was just two and a half months ago when President Bush was shocked to learn gas may top $4 a gallon this summer. Click here to view more details (includes the video interview).
It’s truly sad that the President of the greatest country in the world was shocked by a reporter who had suggested fuel prices would reach $4 a gallon. With the use of our tax dollars, the President has many advisers and agencies at his disposal. Even with all this talent and staff, the President had no clue to what was going on with fuel prices.
As gasoline prices continue to increase, I suspect we will see a greater focus on the President’s blunder regarding fuel prices. Some “spoofs” on the President’s lack of insight are already popping up across the Internet. Read the rest of this entry »
Archived under Economy
Posted by Bill on April 1, 2008 at 4:08 pm
It was another exciting day on Wall Street. The Dow gained just under 400 points on beliefs that the United States economy had already hit rock bottom.
If you look at today’s headlines, you will notice that the news was far from encouraging. Some of the headlines include:
Automakers see Sales Fall in March
Truckers Protest High Fuel Prices
European Banks See $23 Billion Sub-Prime Hit
Construction Spending Falls Again in February
Congress Questions Big Oil’s Profits
Food Price Hikes Changing Eating Habits
Manufacturing Activity Contracted in March Read the rest of this entry »
Archived under Economy
Posted by Bill on March 25, 2008 at 9:39 pm
For decades, elected officials have turned a blind eye to the problems facing Medicare and Social Security. A new report released today tells just how dire the situation is.
First, let’s get one thing straight. The media’s use of “entitlement program,” when describing Medicare and Social Security, at times leaves a hint that these are taxpayer giveaways. Taxpayers paid into these systems with the belief it would be there when they needed it. The reality is that decades of failed government were spending this money like a drunken sailor in a bar while on shore leave. Read the rest of this entry »
Archived under Economy
