The House of Representatives just voted on, and failed to pass, the big financial market bailout bill. Too bad that they are saying this is a “Wall Street” bailout bill. People forget that we own all those stocks. Our 401ks, our IRAs, our pension plans, our insurance companies, our church building funds. The market is […]
Posts from ‘September, 2008’
I knew that the housing bubble bursting was a trigger for the later financial market failures but I was a bit unsure as to how much of the financial market failure was due to other causes. Then I heard yesterday that most of the $700 billion in bad debt that must be rescued is in […]
FedGov interference in the free market always has undesirable consequences. The mother of all financial disasters (well, before this one) is the Great Depression caused by FedGov by means of Smoot-Hawley. The collapse of Fannie Mae and Freddie Mac have triggered a much wider financial crisis. As I pointed out previously, the housing collapse was brought […]
As I wrote on September 13th, for many people, this presidential election is more about race than politics. This morning I was watching the news and the Big Question was: Why isn’t Obama way ahead of McCain in the polls? The statement was made: If Obama were white, he’d be way ahead of McCain in […]
What will happen if people reject Obama’s socialist politics? What if people don’t vote for him because they judge him too inexperienced? What if voters deem him too radical because of his long association with Reverend Wright? What will happen if Barack Obama is not America’s First Black President?