Stimulus Money and Academia

Our local paper published a long piece today about use of our tax dollars. The article is entitled “VU puts stimulus funds to work.” The writer and Vanderbilt University are boasting about Vanderbilt having snagged $87 million in stimulus dollars to fund 194 difference academic research grants. Read more

Hard Truth Weekly Reader – Shall We Panic?

This is a week for considering not how things are in the world of personal finance, but how bad they can become. If you are inclined toward getting in a funk after reading negative predictions, you might want to skip this post. If you are willing to read some hard truth to guide your own money decisions, I’ve got some helpful stuff for you. Read more

The Problems with Small Business Tax Credits

President Obama has recently proposed tax credits for small business that he thinks will create jobs. I think he’s either fooling himself on the merits of the proposal or is just playing for time and PR by introducing “sounds good” legislation that he knows will not make it through Congress. I work for and partly own a small business. Let’s look at the realities of what Obama is asking for. Read more

Keynes vs. Hayek – A “Fear the Boom or Bust” Battle Rap on our Economy

Thanks to reader Don, Mr. ToughMoneyLove learned of a recent YouTube video that, in approximately six minutes, will educate you about contrasting views on central control of our economy. More particularly, the spirits and ideas of economists John Maynard Keynes and Friedrich August von (“F.A.”) Hayek are channeled in a rap battle by two guys with awkward moves and bad mustaches. But you have to watch it. It’s funny, witty, entertaining, and informative, all at the same time.

If you don’t know anything about Keynes or Hayek, it’s never too soon or too late to learn. You might as well start with a video. Enjoy: Read more

Why Don’t I Feel Better?

A few interesting events this week on the economic-political scene. First, President Obama tells us about the state of our union, i.e., a “hope and change” redux tempered with the reality that “hope and change” part 1 didn’t seem to produce much tangible economic benefit. “Hope” doesn’t get it done without the “change.” Spending doesn’t get “change” done when primarily used to buy votes and cater to favored constituencies. (Bush wasn’t any better, by the way.) Read more

State of the Debtor Union

Some exciting stuff happening today in the worlds of buying and selling. Let Mr. ToughMoneyLove tell you about them.

First, Apple is finally going to tell us all about its latest must-have product offering. This will have gadget freaks and the Apple-brand obsessed running for their credit cards to be the one of the early adopters. Read more

California Scheming

I’ve always liked the Mamas and Papas song “California Dreamin.” Someone should write a sequel: “California Scheming.” Read more

When Money is Tight, the Government Keeps Hiring

I just had to share an article summarizing the collective hiring and firing practices of our state and local governments during this Great Recession. They are willing to raise taxes and fees and accept federal (our) dollars in a futile attempt to close their budget gaps. They are not so willing to drop government workers from the payroll. This will be a double-whammy for taxpayers in those jurisdictions because of the pension costs that are piled on top of everything else. Read more

Giving Thanks for Non-Binding Agreements

Mr. ToughMoneyLove had long ago surrendered hope that government could be trusted with our money. I still believed that science was a bedrock on which we could build some aspects of economic policy (excluding of course the dismal science of economics itself). Now I wonder. Read more

CIT Bankrupcty – More Tax Dollars Down a Rat Hole

Another “too big to fail” lender has ….. wait for it …. failed! Yes, CIT Group, Inc. has filed the 5th largest bankruptcy in U.S. history so that it can wipe its hands clean of billions in bond debt, including $2.3 billion in taxpayer money that we gifted to them on 12/31/2008. Belated Happy New Year to us! Read more

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