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Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...time to check out the Funnies!
Below are political cartoons and one can see why McCain lost so badly. It's the economy stupid. Now that the Euphoria is passing the daunting task which lays ahead becomes real.
President-elect Barack Obama plans to crack down on international tax havens, including Jersey, Guernsey and the Isle of Man, within weeks of taking power in January, putting him on a collision course with Gordon Brown.
There is growing international pressure to outlaw the secretive practices of tax havens as a key part of reforms to the world's battered financial system, as the leaders of the world's 20 most powerful economies gather for a major conference in Washington next weekend....
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Tonight's theme is looking at some footage from the 1930's. Whenever there is economic turmoil I personally like to go back to the mother of all economic crises, The Great Depression.
The first film is an hour long documentary which has exceptional analysis, interviews and original film clips from 1929.
This shouldn't surprise anyone who watched what happened to Argentina in 2001. Eventually the government is going to do this.
Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.
Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.
...
The Labor Department said on Friday the jobless rate rose a steep four-tenths of a percent to 6.5 percent in October, the highest since March 1994, and that job losses in September and August were deeper than previously thought.
So far this year 1.2 million U.S. jobs have been lost, with 651,000 in the past three months alone as the slide in the national labor market picked up in intensity
Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent, the Bureau of Labor Statistics of the U.S. Department
Tell me this is not payback. Google pushed Obama from early on, literally had Obama giving speeches to a captive audience, their own employees and raised millions (cough, cough) for his campaign.
Assembled to offer wide-ranging advice, the group of 17 includes Mr. Summers and his predecessor as Treasury secretary, Robert E. Rubin; Paul A. Volcker, a former Federal Reserve chairman, and Eric E. Schmidt, the chief executive of Google. The billionaire investor Warren Buffett is to attend by speakerphone.
General Motors Corp., seeking federal aid to avoid collapse, said it may not have enough cash to keep operating this year and will fall ``significantly short'' of the amount needed by the end of June unless the auto market improves or it raises more capital.
The largest U.S. automaker reported a $4.2 billion third- quarter operating loss today and said its available cash fell to $16.2 billion on Sept. 30 from $21 billion at the end of June. Merger talks with Chrysler LLC were suspended.
Update 2, Nov. 7, 2008: We got three new pieces of data this week, 2 on the monetary front, and one on the inflation front.
On the monetary front, M1 was updated weekly, increasing to ~ +8% YoY. Monetary base continues to soar, up about 60% YoY now!
Meanwhile the ISM manufacturing "prices paid" index showed that more prices are declining than increasing at the producer level:
This is our first October inflation reading, and it strongly suggests we will get another month of deflation when the PPI and CPI come out in 2 weeks.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy! 
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