Below The Beltway

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Archive for the 'Economics' Category

Sarah Palin Is Not A Serious Candidate For President

by @ Friday, July 3rd, 2009. Filed under 2012 Election, Economics, Politics, Sarah Palin

Something tells me that Charles Krauthammer won’t be invited to Wasilla anytime soon:

Krauthammer is, I think, 100% correct, as I observed only days after the 2008 election:
History certainly isn’t on her side. There are no examples in history of a failed Vice-Presidential candidate becoming either their party’s nominee or President of the United States (Walter [...]

Time To Party Like It’s 1983

by @ Thursday, July 2nd, 2009. Filed under Barack Obama, Credit Crisis, Economics, Politics

Despite some hopes/signs that the economy may be improving, the job market continues to get worse:
The pace of job losses quickened in June after slowing just a month earlier, casting a shadow over the Obama administration’s attempts to stanch months of declines in the labor market.
The American economy shed 467,000 jobs last month, and the [...]

General Motors Follows Chrylser Into Bankruptcy

by @ Monday, June 1st, 2009. Filed under Auto Industry, Barack Obama, Business, Economics, Politics

Just over a month ago, it was Chrysler filing for Chapter 11 Bankruptcy protection, today General Motors did the same:
General Motors filed for bankruptcy protection this morning, marking the end of financial independence for the 100-year-old industrial leviathan that once conflated its interests with the country’s and — counting jobs at the company and its [...]

Public Continues To Hold Bush Responsible For The Economy

by @ Monday, June 1st, 2009. Filed under Barack Obama, Bush Administration, Credit Crisis, Economics, Politics, Republicans

If you’re looking for a reason why President Obama continues to enjoy relatively high approval ratings despite the state of the economy, look no further:
President Obama contends he inherited the nation’s ongoing economic problems and that his actions since taking office are not to blame. Sixty-two percent (62%) of U.S. voters agree with the president [...]

General Motors Giving The Ax To 1100 Dealers

by @ Friday, May 15th, 2009. Filed under Auto Industry, Business, Economics

Yesterday it was Chrysler, today General Motors announced that it intends to trim it’s dealer network by nearly 20 percent:
DETROIT — General Motors is telling about 1,100 dealers on Friday that they will lose their franchises by late next year.
Unlike Chrysler, which on Thursday released a list of 789 dealers that it was cutting loose, [...]

Chrysler Announces Plans To Slash It’s Dealer Network

by @ Thursday, May 14th, 2009. Filed under Auto Industry, Business, Economics, Politics

It’s going to hurt, but it’s absolutely necessary:
Chrysler said today it wants to shrink its 3,181-dealership network by roughly a quarter.
In court documents filed this morning before U.S. Bankruptcy Court here, Chrysler asked Judge Arthur Gonzalez for approval to reject dealership agreements it has with 789 dealers across the country.
Chrysler said in court documents filed [...]

Who’s Minding The Store At The Federal Reserve ?

by @ Thursday, May 14th, 2009. Filed under Credit Crisis, Economics, Politics

Apparently, nobody is:

Apologies for the badly mixed audio.
         

Barack Obama’s Sea Of Red Ink

by @ Monday, May 11th, 2009. Filed under Barack Obama, Economics, Politics

The news just keeps getting worse when it comes to the utter fiscal irresponsibility of the Obama Administration:
WASHINGTON (AP) — With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.
The deficit for the current budget [...]

Obama’s Phony Budget Cuts

by @ Thursday, May 7th, 2009. Filed under Barack Obama, Economics, Politics

Today, the Obama Administration released the results of a its weeks-long search for areas where the Federal Budget can be cut.
To say the very least, the results were barely even symbolic:
The Obama administration today unveiled program details of a $3.4 trillion federal budget for the fiscal year beginning in October, a proposal that includes [...]

Chrysler To Taxpayers: Sorry, Suckers !

by @ Thursday, May 7th, 2009. Filed under Auto Industry, Business, Economics, Politics

It turns out that Chrysler has no intention of repaying those government loans it got in December and February:
NEW YORK (CNNMoney.com) — Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing.
This revelation was buried within Chrysler’s bankruptcy filings [...]

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