Media-Types Struggle to Get on the Same Economic Page

December 1, 2008 by  
Filed under Economics, Spending

I was amused and intrigued by Sunday’s print edition of our local newspaper.  The business section featured four articles under the following headlines:

“Foreclosure Wave Hits Malls”

“Big Players Scale Back Charitable Donations”

“Global Crisis Jolts Tourism in Caribbean”

“Companies Whack Pay Raises, Bonuses”

Definitely a doom and gloom article collection wouldn’t you say?   This selection came from a newspaper with a definite liberal editorial staff.  (By they way, when did organized crime slang like “whack” become a mainstream media headline verb?) Read more

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More Pigs Approach the Bailout Trough

November 24, 2008 by  
Filed under Economics, Loans and Borrowing

The number of failing businesses and industries lining up for a Congressional bailout continues to grow.  The newest money pigs are the home builders.  Mr. ToughMoneyLove is not surprised but I am disgusted by this latest appeal for taxpayer intervention.   Before I explain why, let’s review the specifics of the builders’ proposal which they call “Fix Housing First.”  (Such a clever and patriotic way of saying “me first.”  I wonder how much some genius PR firm was paid to think that phrase up.    Weren’t we all supposed to learn in kindergarten that a “me first” attitude is impolite and selfish?   The other pigs at the bailout trough have made it clear that principle and reason are not in play because we are talking about money – big money.) Read more

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Another Week of Ambiguity in Personal Finance

November 16, 2008 by  
Filed under Blog, Economics

I have read more material this week on the economy, investing, and personal finance than I can recall having done in any week prior.  The more I read, the more I learn that there is very little consensus on any current economic issue affecting us, the taxpayers.

Fortunately, less of what is available to read is tainted by political spin, as the election is over and because the lame duck Congress has no clue what to do.  That’s a good thing because whatever they do, it would likely be wrong, including a possible bailout of General Motors. Read more

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