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Archive for February, 2009

Hidden Relief In Obama’s Stimulus Plan

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Economics, Humor, Politics

Apparently, they really are protecting our essential institutions:
WASHINGTON—After a series of closed-door talks, Scott Boras, the agent known for representing the highest-paid players in baseball, set another record for the game’s largest contract when he finalized Manny Ramirez’s $20 billion agreement with the United States federal government on Thursday. “Manny’s .396 batting average last season [...]

Welcome To America 2011, Much Like Hungary 2006

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Credit Crisis, Economics, Politics, Sub-Prime Mortgage Crisis

This is one of those little facts that just puts everything in perspective:
Based on the costs of fiscal stimulus and the bank bailout, the federal government’s ratio of debt to gross domestic product is heading much higher. By 2011, it may equal Hungary’s current ratio — which skyrocketed due to profligate spending and remnants of [...]

Rick Santelli Leads A Revolt At The CBOT

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Barack Obama, Credit Crisis, Economics, Politics, Sub-Prime Mortgage Crisis

If you missed CNBC this morning, here’s Rick Santelli going off about Obama’s mortgage bailout plan and the strongly positive reception it got from the traders on the floor:

If Capitalism Is To Blame For The Crisis, How Do You Explain This ?

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Credit Crisis, Economics

As bad as things are in the United States, the far more socialist nations of Europe are in much worse shape:

Hungary’s forint fell to an all-time low on Monday, and Poland’s zloty slumped to the lowest in five years on plunging industrial output. Half of all loans to the private sector in Poland are in [...]

Disappointing News From Mark Sanford

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Mark Sanford, Politics, Republicans

South Carolina’s Governor, who has been at the forefront of those arguing against federal bailouts from the beginning. He’s spoke out against the TARP bailout, the auto bailout, and, most recently, President Obama’s stimulus package. Today, though, he said that he will accept whatever money the new law brings to his state:
WASHINGTON (AP) – South [...]

A Shot Across The Bow

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Legal, Politics, Supreme Court

There’s a proposed law making it’s way through the North Dakota legislature that, if it passes, would be nothing less than a direct attack on Roe v. Wade:
North Dakota’s House of Representatives has passed a bill effectively outlawing abortion.
The House voted 51-41 this afternoon to declare that a fertilized egg has all the rights of [...]

The Kids Will Be Alright

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Barack Obama, Economics, Politics

Some high school students react to Obama’s economic plans:
A Dobson High School Advanced Placement government class with strong opinions about Barack Obama watched the president’s speech Wednesday on a small, grainy TV in the corner of their classroom.
Some of the students attentively watched the speech, giving questioning looks and comments, shaking their heads and laughing [...]

Obama’s Slippery Stimulus Rhetoric

by Doug Mataconis @ Thursday, February 19th, 2009. Filed under Barack Obama, Credit Crisis, Economics, Politics

Greg Mankiw picks up on something about the Administration’s statements about the stimulus that I’ve noted before.
First, here’s what Obama said in his February 9th Press Conference in response to a question about how to measure his plan’s success:
Answer: I think my initial measure of success is creating or saving 4 million jobs. That’s bottom [...]

The Devil Is In The Details

by Doug Mataconis @ Wednesday, February 18th, 2009. Filed under Business, Credit Crisis, Economics, Politics, Real Estate, Sub-Prime Mortgage Crisis

And there’s something pretty significant buried in the details of Obama’s mortgage relief plan:
The federal government has doubled the size of its commitment to Fannie Mae and Freddie Mac, increasing the guarantee against losses on their mortgage investments to $400 billion.
The massive expansion of this public backstop for the troubled mortgage giants was disclosed this [...]

More Enlightenment From Our Saudi Friends

by Doug Mataconis @ Wednesday, February 18th, 2009. Filed under Islam, Religion

I find myself unable to really decide what to say about this:
RIYADH, Saudi Arabia – Saudi Arabia’s most senior cleric was quoted Wednesday as saying it is permissible for 10-year-old girls to marry and those who think they’re too young are doing the girls an injustice.
The mufti’s comments showed the conservative clergy’s opposition to a [...]

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