In Economic Woes 10-23 Updated

The Government Is Spending Money Faster and Faster. Oh goody.


Cap & Tax, And The Loss Of U.S. Sovereignty. A perfect triumvate, Cap & Tax will raise taxes, kill poor people by freezing them to death, and destroy our economy.

U.S. House may soon get estate tax bill: Rep Hoyer

I'm "underserved". May I have an iPhone please? Stimulus Spending for Laptops and iPods?

ANYONE except Obama and his clownish co-horts could have predicted this result. Top employees leave financial firms ahead of pay cuts.

The Chicago Way. The Chamber of Commerce is only the latest target of the Chicago Gang in the White House. Basically Obama is seeking to neuter or destroy anything that challenges his attempt to hijack the US economy. AND Obama's Uncompromising Inner Man

FDIC Failed to Limit Commercial Real-Estate Loans, Reports Show

Treasury: Bailed-out firms to slash pay in Nov. They will come for you next.

As usual, the Obama administration over-steps its bounds. The government has majority ownership in AIG and GM, so I guess they can call the shots there.

Approximate government ownership percentages:

AIG: 80
BoA: 40
Citi: 34
GM: 60
GMAC: 35
Chrysler: 10
Chrysler Finance: I couldn't find quickly

But isn't it the role of the Board of Directors to set executive compensation? Why would they not call a Board of Directors meeting and put the compensation packages to a vote of the shareholders (Hint: they may lose the vote)….

Politics of Envy.

"No doubt many will cheer executive pay cuts ordered by the Obama administration at companies that received U.S. bailouts last fall, but the celebration will prove short-lived. Obama pay czar Kenneth Feinberg, who has unprecedented authority to dictate pay in the private sector, has told executives at seven companies that their paychecks will be cut by 90 percent this year. In lieu of cash, the top 25 executives at American International Group (AIG), Bank of America, Citigroup, Chrysler, General Motors, and the financing arms of the two car companies will receive restricted stock in their companies, most of which they can't touch for years. On average, their total compensation will drop by 50 percent."

'Fierce urgency' for jobs, not health care Duh.

Should we accept this level of "Permanent Job Loss"?
Parsing Unemployment

When Work Doesn't Pay For The Middle Class

Pork Report October 22, 2009: Vegas Neon Museum

Dillard Says No to Income Tax Increase



Why Is Unemployment Rising Faster In the U.S. Than Other Countries? Because other countries don't have Obama and this clown Congress running their economies?

Going Galt. Which explains this... Tax Collapse

The Fed at The Crossroads

The Rise of the Mob Economy



Nice map. Where Foreclosures Cluster

Romer: Impact of stimulus will level off. The stimulus had an impact?