pt our flourishing economy
The Federal Reserve this afternoon is expected to cut the fed funds rate from 1% to .5%, a modern record. The government is printing more money than you can shake a stick at, all night, every night, to give to financial companies. This should be an incredibly sexy time to make LOANS. Overnight loans, car [...]
The Dow Jones fell 679 points today, since it’s been a full six days since Paulson last introduced a new multi-hundred billion dollar loan or loan guarantee program, and everyone on Wall Street is a child: “The day’s news reminded investors, who last week were buying on a burst of optimism, that the economy is [...]
It seems like just yesterday our little recession spent all its time wailing for food and pooping its pants, but it’s already pretty big! Soon it will be all growns up and cooking meth in the back yard shed while it asks us for “rent money.” The National Bureau of Economic Research says our recession [...]
Here’s a frightening math chart from the mathies at Calculated Risk putting that record 2.8% October retail sales decline in perspective. (As if a record drop in consumer spending needed more perspective!) Sales are down 8.8% on a year-over-year basis, which may just strike you as, “bah, some dumb number,” but this graph shows that [...]
Hey hobos! If you are looking for some Golden Ameros to replace your lost I-banking wages, or your lost 401(k), or your lost home, look no farther than your local pawn shop! They can give you all the money that the banks can’t, now that the banks don’t have any money.
Oh this is hilarious, on CNN we have a split screen with Barry finally laying out his detailed, comprehensive policy proposal on the left, and on the right we have a bunch of sad orange roses waiting for George Bush to stomp all over them.
Well good morning to you! The Dow dropped over 660 points after opening, which is to say, it’s just another beautiful day on Wall Street. Our president, George W. Bush, will once again scurry out of his spider hole to choke out a few brief words about our flourishing economy before he glimpses his shadow [...]
When the markets tank, editors need a photograph to illustrate the terrible loss of value in equities most people either don’t own and don’t understand. The obvious photograph — poor people eating trash in the alley because they have no food and no home — is never used, because it would seem racist. Instead, the [...]
Hey, you half-million people seeking unemployment checks last month: Did you not hear that Congress and Hank Paulson are going to Save the Economy? And what about you Wall Street analysts finally admitting, today, that the United States is in a terrible recession? Did you forget that John McCain believes the fundamentals are strong?
It’s Monday, meaning a bank fell. A major bank, felled. Or didn’t fall? Just “sold off” its entire banking operations: “Citigroup will acquire the banking operations of the Wachovia Corporation, the Federal Deposit Insurance Corporation said Monday morning, the latest bank to fall victim to the distressed mortgage market.” While the F.D.I.C. chairman says Wachovia [...]
OH, UH …. “Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis.” [REUTERS]
Hmm so yes, this is what it’s come to: our national financial crisis was predicted by a comic book movie about a villain with a lumpy white sliced-up face. This mashup of George Bush’s sad address from last night and Heath Ledger’s bravura performance as an insane person with drymouth is dreadfully offensive to the [...]
The Federal Reserve Bank and the U.S. Treasury just launched this great new website where you can force the government to buy your worthless old garbage, too! Somebody wants Paulson to buy this “used douche bag,” which is so gross. Wonkette has submitted a request for $1.4 billion dollars to cover an old HP notebook [...]
