That’s what the Fed is pledging to “rescue the financial system,” according to Bloomberg.com. That’s 50% of 2007 GDP, or 288% of 2007 federal tax revenues. Makes my prior post sound look like a praise of good budgeting.
$7,400,000,000,000 Read More »
That’s what the so-called “financial crisis” of 2008 has cost the federal government directly… so far.* Wonder how that stacks up to other crises? CNBC has a slideshow showing the costs (inflation-adjusted) of some of the biggest government projects ever. There are many events not listed in that slide show, of course. Two of the
$4,284,500,000,000 Read More »
It’s the best one-image summary of why the Detroit Three are in such hot water, and it’s on Michigan economist Mark Perry’s blog. (h/t Greg Mankiw).
The Only Graph You Really Need to Understand the Auto Industry’s Problems Read More »
Elliott Wave International asks, “Are stocks really a bargain?” If you believe your eyes, the answer is pretty clear. P.S. In case you were wondering what the current DJIA dividend yield is (click the link above to see why this is relevant), you can see that here.
Are Stocks Really A Bargain? Read More »
Let’s all hope this, at least, does not repeat. It’s a miracle the American Dream has survived this long.