Friday Morning update
Slow political day after a flurry of activity in Springfield and DC earlier this week. I think the Gregg rumours are more about posturing then actual appointments. Obama may be trying to snag a few votes for the stimulus package in DC.
Here’s an article in the WSJ from yesterday that really got my juices flowing
http://online.wsj.com/article/SB123319134864127065.html
I have a lot of sympathy for Mr. and Mrs Smith as I do for all the other Americans who are facing financial hard times. “There for the grace of God goes I” as the saying goes and for me its a heartfelt plea. Yet there is one paragraph in this article which just shocks me as what can pass for common sense in America today. The writer relates that the Smiths were, on their combined 180K annual salary, were not lavish spenders but they had accumulated 25K in credit card debt.
 Does this seem like common sense? You earn 180K and still accumulate 25K in credit card debt? Bless their hearts the Smiths with all their education, great jobs and obvious intelligence did not learn basic personal finance lessons. Until Mr. Smith’s recent layoff apparently the word “No” was never used when it came to spending money. One cannot under estimate the value of the word “No” or even “well maybe later or next month”. That’s really the key to budget restrait at home or in the halls of government.Â
Perhaps more later from me.
It’s Friday
Friends,
A comment on the “Stimulus Package.â€
The bailout of states IS going to save jobs. Our state of CT is somewhere between $500 – 900 million in the red. One of the ways to cut the red is to cut jobs on the state level. Another way to cut the red is to cut the amount of money that is given to towns for their education budgets. This would force towns to increase their property taxes or start to eliminate jobs within the town.
In either scenario, jobs would be lost. Aid to states WILL save jobs.
Much of the other “junk†in the bill will not create many, if any jobs.
Oh, BTW, in all of these projects, are there any jobs for women? Shovel ready jobs are usually construction and the vast majority of construction workers are men. I was told that secretarial staff would be needed within these companies. That is true. The only problem is that these companies already have secretaries. So, if my wife gets laid off of her job, this “stimulus bill†would not create any job for her.
Frank
Commentary: Obama’s hypocrisy showing
CNN
Yes, THAT CNN.
The Tax Cheat is fanning the flames with China.
WHERE IS THE FRIGGIN CHANGE???????
Here’s some change…
Dow 8,058.69 -90.32 -1.11%
Very interesting article – thanks for the link. The US economy was sustained by a majority of the American people spending not only all the money they earned, but spending even more through credit cards, HELOCs, and all other manner of easy credit. With people now forced to live within their means (and less means at that), there is going to be pain as those effects ripple through the economy.
Dow Down 1400 since O won the election (11-08).
We are led by Zero and Geithner who is the Architect for Bailouts 1, II, and III.
Leave no STD Kit Behind.
There will be sod too – just like the sod in the back of BJ’s truck in the 1980s, or was it astroturf?
ok Tina .. who’s BJ?
Think Big Joe, think really hard. It does not refer to you, but to the President that oversaw the growth in AQ and when he left office pocketed a boat load of $$$ from foreigners.
How are you doing btw? I see that you have replied to me in other posts. I am not here much lately. Are you gearing up for the Super Bowl?
Ah ok, I knew you were talking about him, but didn’t know you referred to him as “BJ”. LOL, I think he’s smart enough to use rubbers.
I’m not a big fan of either the Cards or the Steelers. I’d love to see Coach Tomlin win. This is a guy who wouldn’t have even gotten an interview for the coaching position if it weren’t for the Rooney Rule. So it would be a great story if he were to win.
And it would also be an equally feel-good story if Kurt Warner were to win.
Who are you pulling for?
I just like watching the games, not rooting for anyone really.
The 49ers are my team, as you may/may not be aware of. Fan since 1975.
Ultimately, the economic down turn will be good for many middle/upper income people, since it will force them to learn not to live on borrowed money and to SAVE.
So many people see what others do and duplicate their spending habits – even though they cannot afford them. The Smiths in the article are unfortunately typical – but if most people where more frugal in their spending and saved money, we wouldn’t be in the hard times we are. Sure the last few years wouldn’t have been so “great” but I’d rather have consistent levels of small growth, rather than huge levels of growth for 5 years followed by big negatives for a year or two.
If Gregg is appointed as Sec of Com look for Gov.Lynch to appoint a caretaker Republican to the seat ie a Warren Ruddman a moderate Republican.
The GOP is in danger of becoming a minority party. By representing the values of older, lower educated white voters in the South and Mountain States the GOP is teathering it’s hopes to a group that demographically will be in the minority within the next 25-30 years.
By advocating a mean spirited hard line stance on immigration the GOP can kiss the Hispanic vote goodbye, and any chance of winning Colorado, Nevada, etc in the next election. Also it was the Hispanic vote in Indiana of all places that swung the state to Obama. So keep up with your xwnophobic, rooted in the 1908’s policies, and today’s GOP will become like the Democratic Party in the of the 1890’s, a Southern/rural party who doesn’t win Presidential elections very often.
Michael Steele would be a wise choice for the RNC Chair.
Given the high chance that Mexico collapses in the next year or two, I somehow think a GOP stance to safe and secure borders will be a good thing.