OK, I used the Part Deux thing once before. A little latitude, please. The Canadians speak French. On our way back from the family road trip, we spent another very enjoyable day in Canada. Here are three more observations from the trip: 1) We crossed the border four times – twice out and twice back … Continue reading Canada – Part Deux
Category: Economy
Blame Canada!
I’m on a road trip with the family that included a very pleasant three days driving across Canada from the Michigan border to Montreal. Here are a couple of observations from the road: Observation 1: In Toronto (my first time there), I was struck by the sight of construction cranes, something I haven’t seen in … Continue reading Blame Canada!
A Plague on Both Our Houses
OK, I’ll admit that I’m stumped on this one. It’s starting to look like we’re actually going to get some sort of healthcare reform which, at least in general terms, I believe is a good idea. If you think what we’re doing now is working, read the first paragraph of this article. We spend more … Continue reading A Plague on Both Our Houses
Taming the Beast
Imagine that you have a life insurance policy that you no longer need. You could let it lapse or cash it in. You also could choose to sell it, perhaps to me. I’ll pay you a lump sum for the policy and agree to pay any remaining premiums. In exchange, I’ll get the payout when … Continue reading Taming the Beast
Car Sick – Vol. 1
According the NY Times, the debt markets are valuing the restructuring package for GM’s lenders at roughly $3.4 billion. The lenders will end up owning 10% of GM, which means the market is valuing the entire business at $34 billion. Meanwhile, the government is investing $50 billion in GM in exchange for a 60% ownership … Continue reading Car Sick – Vol. 1
AIG: Who Knew? (Not the People Who Should)
If you haven’t been following the Daily Show vs. CNBC feud, it’s great entertainment. If we could just find a way to add back to the Dow all the points Jon Stewart has been racking up, the recession would be over. A year or so ago, Tom Friedman of the New York Times pointed out … Continue reading AIG: Who Knew? (Not the People Who Should)
Name That Dog!
There's a rumor floating around that the Obamas are going to adopt a 3-legged dog. See: http://latimes.com/thedishrag/2009/02/will-a-portague.html I wonder if they'll name it "Economy."
Bailout 2.0 – What Am I Missing?
OK, let’s try this again. Since I last commented on the bailout, the Treasury Department has dumped $25 billion into Citi and promised about $300 billion more. I remember when $300 billion was real money. Treasury has now spent more than half of the TARP funds. Who knows how much worse off we’d be if … Continue reading Bailout 2.0 – What Am I Missing?
Bailing out the Bailout
Congress has approved $700 million of bailout money. Henry Paulson keeps changing his mind about what he wants to do with it. He has focused almost entirely on institutional fixes. Maybe I’m missing something, but it seems to me that the financial system currently is leaking below the waterline. What we need to do is … Continue reading Bailing out the Bailout
Carp Diem 