Archive for ‘Economics’

February 16, 2009

Waukesha’s part of the stimulus

by thoughtfulconservative

Top on the list is fixing Accordion Arcadian Ave.

Except voting is currently against it.

Can they overturn Congress?

More here.

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February 12, 2009

Cause and Effect?

by thoughtfulconservative

Does this [Emphasis is mine throughout]

Twenty-six percent (26%) of American voters say the nation is moving in the right direction, while 66% say it is heading down the wrong track, according to the latest Rasmussen Reports national telephone survey.

The number of voters who think America is moving in the right direction is down slightly from last week’s high of 29%, but it marks the third straight week in which over a quarter of voters share that opinion despite increasing bad economic news.

stem from this?

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell to a new record low for the second straight day on Thursday. Just two days after Treasury Secretary Tim Geithner’s presentation of the White House financial rescue plan, the Consumer Index fell to 56.2, surpassing the all-time low set the day before. During 2008, record lows for consumer confidence were recorded on a regular basis. Consumer confidence is down two points from a week ago and one point from a month ago.

Rasmussen pegs the low to Geithner’s presentation of the rescue plan, but couldn’t it simply be the downturn/recession/depression that’s making folks nervous and causing low approval ratings?

I suppose we won’t know until we start to pull out of this mess.

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February 8, 2009

Waukesha Carnival 02/08/2009

by thoughtfulconservative

Welcome to this week’s edition. It’s gettin’ late and I have to work tomorrow, so let’s get to it.

First sad news, Darryl Enriquez at Waukesha FYI tells us about the Waukesha Freeman layoffs. One of those laid off was photographer and Waukesha blogger Byron Houlgrave, who shared the last picture he clicked for the Freeman.

Continuing in Waukesha city, Jeff reviews the fish fry at Michael’s Italian America Restaurant at Five Points Blog.

James Wigderson went to the Waukesha Common Council meeting and shares his thoughts with us at Wigderson Library & Pub.

Spiralling out a little, Linda Richter at Inside New Berlin finds the security cameras in schools unsettling and it’s not just the price tag.

At peterepublic, Pete Fanning drops by to remind us he’s still alive, just very, very very busy.

Kyle Prast at Practically Speaking reminds us that US Rep. Sensenbrenner and state Rep. Leah Vukmir will have several town halls. One is past, two are upcoming.

In posts about state news, Wisconsin Sen. Mary Lazich (chief aide Kevin Fischer?) points out at Conservatively Speaking that the Wisconsin Covenant program could be costly.

In a couple of miscellaneous posts, Curt Otto gives us the question to last week’s answer, or something like that. Any way it’s all over at Maple & Main.

Meanwhile, over at the Spring City Chronicle, Michael Phelps gets the Bonehead of the Week award. Pretty much a unanimous vote, I would say.

Then in posts on national issues, MommaBlogger takes time out to rant over that Florida case of the botched abortion at Homemakers Guide to the Galaxy.

Dan Deibert shows us how fast government can move when they want to, with pictures at The D Spot.

Alex has some thoughts about Republican votes and raises at A Little off Main.

At The Other Side of  My Mouth, Tim Rock has some thoughts on the Republican vote on the stimulus package.

Silent e tells us why Democrats are unpatriotic at silent e speaks.

Cindy Kilkenny has a two-parter over at Fairly Conservative on building our own stimulus package.

Dad29 points out that the American people seem to be understanding the ramifications of the stimulus package.

Whew, that’s it for another long one. As usual, if you have one you liked add the link in the comments below or e-mail me at thoughtfulconservative [at] yahoo [dot] com. Same for posts you’d like to nominate for next week’s carnival. It doesn’t have to be one of your own. Links to our archives and future editions can be found here.

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February 6, 2009

Capping executive pay

by thoughtfulconservative

In contrast with some of my fellow conservative bloggers, notably Owen (and observe the extent of the comments). I’m a conservative, I understand their opposition, yet I find myself agreeing with Roger Simon at Politico.com.

President Barack Obama is on the right track with his plan to cap at $500,000 per year the salaries of Wall Street big shots who get federal bailout money. But he is off by $499,999.99.

There is no reason for taxpayers to continue to reward unlimited ignorance and unbridled greed. These Wall Street firms were run into the ground by financiers who were too stupid to understand the true risks of what they were doing and too greedy to stop doing it.

And now they deserve a half-million dollars a year? Some of them deserve six to 12 in Allenwood.

The bottom line for me is, they’re taking the money, the government can set the terms now.

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January 14, 2009

Social Security vs Ponzi Schemes

by thoughtfulconservative

Over at Good Math, Bad Math, Mark Chu-Carroll heard Mayor Micheal Bloomberg refer to Social Security as a Ponzi Scheme and said,

This is, to put it mildly, bullshit. Incredibly, stupid, rampant, bullshit.

Technically, of course, he’s correct. In spite of the many times I’ve refered to SS as a Ponzi Scheme, there are differences and Mark enumerates them.

  1. Ponzi Schemes are investments and voluntary. Social Security is a tax and non-voluntary.
  2. In a Ponzi Scheme you have the investors at the top making their money while the poor saps at the bottom aren’t getting anything. In Social Security benefits are paid out to all recipients based on a formula.
  3. A Ponzi Scheme is based on deceit. No one is ostensibly trying to profit from Social Security, so there is no reason to lie.
  4. A Ponzi Scheme tries to make a profit and have enough liquidity to make good on some of its promises. Social Security is a zero-balance tax-funded benefit.

In spite of the fact that its not considered an investments, there are those statements you can have mailed to you, where they give you your earnings record along with your estimated benefits, not unlike something I might get from my 403(b).

Politicians have joined in the charade somewhat by referring to the monies collected as investments. And we refer to those benefits as entitlements.

The Trust fund has been skimmed by the government to cover deficits in the general fund, one of the reasons those in the know look at Baby Boomers beginning to collect benefits with some trepidation.

Although not technically a Ponzi Scheme, one can find enough similarities to justify the label.

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January 14, 2009

Gannett plans to furlough employees for a week

by thoughtfulconservative

From the New York Times

The Gannett Company, the nation’s largest newspaper publisher, said on Wednesday that it would force thousands of its employees to take a week off without pay in an effort to avoid layoffs.

This involves about 31,000 employees.

Also on Wednesday, USA Today notified its staff of a one-year pay freeze for all employees.

Most of the readers of this blog know that

With the newspaper industry in increasingly dire financial straits, Gannett’s mandatory week off takes its place in a growing list of grave moves. Layoffs have been widespread, the newspapers in Detroit halted home delivery four days of the week, the Tribune Company filed for bankruptcy protection and owners of The Rocky Mountain News and The Seattle Post-Intelligencer warned that those papers could shut down.

Our local Milwaukee Journal Sentinel has announced a couple of “layoffs” in the recent past (announced as buyouts and early retirements) as well as a price increase for non-subscription newspapers.

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