Economy

Stimulus Results: Unemployment Soars

“The U.S. may suffer further job losses in the coming months” began the April 3 Bloomberg.com story on federal government reports that the...

Thomas R. Eddlem April 6, 2009

Obama Administration Ousts GM CEO Wagoner

Dennis Behreandt March 30, 2009

In a move heralding the Obama administration’s most aggressive intervention in the business sector to date, the federal government has forced GM CEO...

Bill Would Give Feds Control Over Family Farms

March 20, 2009

On February 4, Rep. Rosa DeLauro (D-Conn.) introduced the Food Safety Modernization Act of 2009 (H.R. 875) in the House. Its stated objective...

Japan & China: Following Obama’s Lead on Spending?

Thomas R. Eddlem March 16, 2009

Chinese Premier Wen Jiabao’s remark that he was “worried” about the $1 trillion in U.S. debt he was holding caused such a chill...

Down Goes the Dow

Charles Scaliger March 4, 2009

Down, down, down goes the Dow (and all the other stock indexes), and how much further the markets are likely to fall before...

AIG’s Latest (Fourth) Federal Bailout

Charles Scaliger March 2, 2009

For the fourth time in six months, the federal government is giving billions of taxpayer dollars to AIG, following the latter’s announcement of...

$750 Billion Bank Bailout in Obama Budget

Charles Scaliger February 27, 2009

Figuring prominently in President Barack Obama’s newly released budget proposal for fiscal 2010 is another massive bank bailout. The Bush administration’s gargantuan $700...

Creeping Nationalization

Denise Behreandt February 25, 2009

Though the Obama administration continues to deny it, the U.S. government continues to move closer to nationalizing the nation’s largest banks. The last...

Automakers Seek Another $21.6 Billion

February 19, 2009

General Motors and Chrysler submitted “financial viability” plans to the U.S. Treasury on February 17 that included combined requests for another $18.6 billion...

Obama’s Homeowner Lifeline Not a Lifeline

Gary Benoit February 19, 2009

“President Barack Obama threw a $75 billion lifeline to millions of Americans on the brink of foreclosure,” the Associated Press reported after the...

Obama: Buying a Second Term?

Patrick Krey February 18, 2009

On Tuesday, February 18, President Barack Obama achieved one of his first major goals in office by making his $787 billion stimulus plan...

Coming Soon: Nationalization of the Banks?

Gary Benoit February 16, 2009

Will the banks be nationalized? That question would have seemed preposterous prior to the $700 billion Troubled Asset Relief Program to bailout major...