The purpose of the original chart (all the blue parts) and the report it came from was to help sell the “stimulus” package, or “recovery plan,”  by planting in the public mind the perception that experts had done the math and knew how the government could “save or create 3.5 million jobs,” by borrowing and [...]

The media are in a festive mood, rejoicing in the defection of Arlen Specter from the GOP to the Democrats.  They will likely find themselves not so joyful as the months wear on.
First, giving credit where due, without Specter’s efforts on the Senate judiciary Committee there would be no Supreme Court Justice Clarence Thomas.
In [...]

President Obama’s Fiscal Responsibility Summit bamboozled the stupefied national media into reporting on deceptive campaign-style hype as if it were a serious policy meeting.
Chutzpah (pronounced and sometimes spelled “hutzpah”) is a Yiddish term meaning shameless, brazen temerity, combined with contempt for the intelligence of others.  Perhaps the most famous description of Chutzpah came from humorist [...]

This was to be the week the new Congress began work on the crucial, urgent, Trillion Dollar Stimulus Plan, mislabeled down to $850 Billion, for advertising purposes.  It was to be completed in just over two weeks, in time for President Obama to sign it into law on Inauguration Day, January 20.
The two points all [...]

This is the second post examining the political-media establishment claim that the Detroit auto companies are in financial trouble because they don’t manufacture more of the tiny vehicles politicians and the green lobby favor.  The first is here
On Main Street success is measured in satisfied customers and profits.
In the Washington establishment success is measured in [...]

It now appears likely that the auto makers will receive about $18 Billion from Washington this week.
The so-called “debate” over this issue has been a classic example of how ignorant and out of touch with reality the Washington media-political machine has become.  The continuous flow of ignorant opinion and misinformation showcases the utter laziness [...]

This week, Executives from GM, Ford, Chrysler, and the UAW made a return trip to Washington to grovel before the politicians who, if their egos are sufficiently massaged, have the power to hand them vast amounts of taxpayer money.
The executives submitted to scores of stupid questions, and endured many hours of ignorant opinions from Senators [...]

Every week brings another, massive, new bailout.

Various financial publications have come up with estimates ranging from $3 Trillion to $7 Trillion for the total amount of cash and backstop guarantees the government has hurled at problem financial institutions in just three months.
One might expect the new administration to distance itself from this reckless misadventure, [...]

Little understood by those in the media (anyone surprised?) is what could cause the current credit blow-off and associated recession to devolve into a full blown depression. To understand, one has to take a brief trip down “Globalization Lane.”
“Globalization” is a a term generically used to describe the opening up of product and financial markets [...]

Stock indexes are an indicator of investor confidence in the economic future. The Chart tracks the 40% decline in the Nasdaq Index since the beginning of the most massive series of government interventions in the private economy in American history.
Clearly, investors are not confident that Congressmen, Senators, and Treasury officials have the insights to resolve [...]