The vote buying season is in full bloom, manifested by President Obama’s speech decrying the rising cost of a college education.
The President is a smart man. Why does he embarrass himself this way? Read more
A sinking President Obama is trying to buy votes from those who are already underwater. It is a waste of valuable government time and resources that could be better used.
The federal government has never accepted that all of its attempts to “rescue” the housing market are fruitless. Bad loans and unqualified homeowners are a sad fact of the real estate bubble. Nothing that Congress or the White House says or does can change that.
Long-time readers know that Mr. ToughMoneyLove is not a fan of MBA programs and, generally, their graduates. The former are mostly cash machines for students looking to borrow their way to an upgraded life. The MBA graduates, if they learn anything at all, it’s to bean count their employer into bad decisions. Witnesseth: Wall Street 2008 and U.S. car companies. I’m not the only one who thinks we need more engineers and fewer bean counters.
Many of us have a sense and concern that China (and even India) are on a path to overtake the U.S. and other western countries in economic might. There is a real basis for that concern, as reflected in actual GDP per capita and other important indicators. Read more
Today and tomorrow are set up to be quite tumultuous for the world of personal finance. The new look of the House and Senate may determine whether federal income taxes (for those of us who pay taxes) will go up on January 1. Of course none of our chicken-sh— politicians wanted to vote on tax rates before the election, but no surprise there. Read more
You may have forgotten that there is a federal “fiscal commission” working since against a December 1 deadline to propose a plan for balancing the budget by 2015. The official title is the National Commission on Fiscal Responsibility and Reform. You haven’t heard much about it, have you? That’s because there is an election to take care of first. Read more
I read an article this morning about an attorney in Florida who has become uber-wealthy because he runs a foreclosure processing business. He owns multiple mansions, exotic cars and a yacht. I tried to get angry about it but I really couldn’t. Read more
When the French are upset about having to retire later, they don’t wait for elections to change policy. They just shut the whole damn country down until they get their way. Unions run the country and the French run the unions. Ergo, France is a great place to be except for the French. Read more
People tend to forget all of the taxpayer money that has been spent to prop up “too big to fail” financial institutions. Some of those “forgetful” people include the jerks that still run these institutions, which others have referred to as “zombie banks.”
The consumer engine that drives our economy isn’t returning to its borrow and spend ways.
“F—you” say consumers who refuse to comply with the pleas of government economists that we revert to our bad habits of yesteryear.
This is most pleasing to Mr. ToughMoneyLove. Read more