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The US is in Pre-Recession

The US is in Pre-Recession

The Commerce Department has released GDP data for the fourth quarter of 2012, and these numbers indicate a contraction of an annualized .1 percent, which wasn’t exactly a crash, but it was a contraction nonetheless. If you read my work, you already know that I...
The US is in Pre-Recession

There Was No Recovery

“Double Dip.” By now you have probably seen this term somewhere. It appears that the economic recovery is stalling in what is supposedly its second year, and now the economy is poised for the dreaded “Double Dip.” It is a lie. There was no recovery in the...
The US is in Pre-Recession

Cash for Clunkers

money-flying-awayBy all accounts, the cash for clunkers program has been a huge success. Never mind the fact that auto dealerships want nothing to do with the bureaucratic red tape and if at all possible will steer a customer toward conventional financing. The fact of the matter is that it has been a real boost to the economy. So who really has benefited from this program?
  • Some consumers, who traded up from old gas guzzlers to spiffy new fuel-efficient models,
  • Auto dealers, who were able to dump inventory and pay their financiers,
  • Banks, who all of a sudden, had some new auto loan volume, with up to $4,500 down-payments,
  • Auto companies, especially Ford, Toyota, Honda and Nissan, who led the pack in sales. Conspicuously absent from the list were the beneficiaries of the government's bailout program, General Motors and Chrysler. The car companies were also able to unload a bunch of inventory,
  • Unions, who conceivably will be called back to work to replace all of that sold inventory,
  • Steel manufacturers, such as Nucor, who will be able to buy cheap scrap steel and turn it into something usable,
  • The green movement, because these new cars will be spitting out fewer greenhouse gas emissions,
  • And the biggest winner of all, the Obama Administration, who was able to satisfy a number of constuencies and supporters, namely, the unions, the green folks, and the car companies they now run (GM and Chrysler). In the process, the President will be able to boast how this will boost the nation's Gross Domestic Product and single-handedly pull us out of recession.
With so many winners, how can there be any losers? Of course, [...]

2008 Election Thoughts

I’m tired of everyone dumping on George Bush.  I’m the first to admit that he has some serious leadership deficiencies, but he is the President and won the job fair and square twice, despite what the Libs think.  As President, he deserves our respect, just like...

Burning Down The [US] House

Talking Heads: No visible means of support and you have not seen nuthin yet ~ ~ ~ ~ ~ The House of Representatives today passed the Senate version of the $700 Billion Bail-out.  For now, it’s over.  Bush signed the bill shortly after the vote, and we have not...
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