Archive for Dollar
Kick the Can
Posted by: | Comments
Here’s Obama telling congress not to kick the can down the road. Here’s Obama kicking the can down the road last February. Here’s the can. It’s big.
Above My Pay Grade
Posted by: | Comments
The GS-15′s keep getting richer. USA Today reported that 10 times as many federal workers earn $150,000 as did five years ago. The number has doubled under the Obama administration. Meanwhile, the fed is working hard to devalue those dollars with quantitative easing.
Bonding
Posted by: | Comments
If you are like me you think QEII is a boat. And so it is but it’s also Fed Chairman Bernanke’s economic policy. It’s called quantitative easing and it involves the purchase of a gazillion dollars worth of bonds. Actually, that’s an exaggeration. It’s only a half trillion dollars worth. Helicopter Ben says this is critical for global stability. Warren Buffet and some other very smart guys, in Paul Farrell‘s Market Watch column, say this is nuts.
Zorba
Posted by: | Comments
I’ve had this one sitting around in my sketches file for a while. Zorba the Greek isn’t a household name these days. But with the Greek economy sending the Euro crashing this week and the Germans left to pick up the pieces well… as Dieter would say, now is the time on Sprockets when we dance.
Osama Bin Laden Not a Denier
Posted by: | Comments
Osama bin Laden commented on economics, climate, and quoted Noam Chomsky in a tape released today. Here’s the New York Times story. If you want you can read about real Davos big shots click here.
Take a Bow
Posted by: | Comments
Well, our president certainly isn’t one to hold a grudge. Within the same week he’s granted constitutional rights to the mastermind of of the worst attack on the U.S. since Pearl Harbor and bowed to the Emperor of Japan. Here’s a link to the LA Times story.
Mao Money
Posted by: | Comments
Considering that his budget proposes a 34% spending increase, our patrons the Chinese, are skeptical that Obama is doing everything he can to reduce the Bush Deficits. Jawboning didn’t get the message across. Neither did harassing the U.S. Navy. So now they propose ditching the dollar in favor of a new world reserve currency backed by the IMF.
Geithner was initially cool with the idea which promptly caused the dollar to drop 1.3%. Drawing on his vast rethinking powers, the Treasury Secretary had the dollar bouncing back 15 minutes later.