Tag: economy

Find Out Where Your Money Goes! | An Occasional Series

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I hear nonstop bitching from Democrats and Republicans and Independents about where all the bailout (or stimulus) money is going. This is one of those times in life where the more educated about reality you are, the better.

Click here to be taken to a map that shows which banks received TARP money. This is from the government website http://www.financialstability.gov. At whim or random, we will keep putting information from this site out because it’s important stuff. But really, you should become familiar with it so you at least know what the facts are (or ‘facts’ are, depending 0n your political affiliation).

You know how to tell when a politician is lying, right?

Euro Area Headed for Break-Up, SocGen’s Edwards Says (Update2) – BusinessWeek

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More fallout from the Greece situation:

Tommaso Padoa-Schioppa, a former European Central Bank executive board member and Italian finance minister, said today there was no possibility of a partition of the euro-zone.

“I don’t think there is any prospect for such an event and I don’t think it makes much sense to talk about it,” he said in an interview on Bloomberg Television.

Read Article.

Europe Risks Another Global Depression | The Baseline Scenario

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You may or may not be aware, but Greece is on the edge of a complete economic collapse. The problem is that the more prosperous European Union countries don’t want to ride to the rescue of their unfortunate neighbors:

But the Europeans are not being careful – and it’s not just about Greece any more. Worries about government debt and associated public sector liabilities (e.g., because banking systems are in deep trouble) have spread through the eurozone to Spain and Portugal. Ireland and Italy are next up for hostile reconsideration by the markets, and the UK may not be far behind.

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Statewide small business stimulus program heads to Riverside | Office of the Small Business Advocate

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Business Matchmaking and SBDC team to help entrepreneurs access contracts
Statewide small business stimulus program heads to Riverside

SACRAMENTO — On Feb. 4 Riverside businesses will have the opportunity to participate in a free statewide program aimed at increasing small business readiness to access stimulus-funded contracts through President Obama’s Economic Recovery Plan.
Continue reading “Statewide small business stimulus program heads to Riverside | Office of the Small Business Advocate” →

U.S. Retail Credit Card Defaults Hit Near-Record Levels with No Relief in Sight | Insurancenewsnet.com

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Fitch’s December Retail Credit Card Index results show that more than one in every eight dollars of receivables was written off as uncollectable during the November collection period on an annualized basis.

Similar to chargeoffs, the deterioration in delinquencies has slowed significantly from the previous year, yet they still remain almost 48% higher than 2007. Despite these short term improvements, Fitch expects retail credit card delinquencies to remain elevated throughout first half 2010 in line with its expectations for unemployment.

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Stimulus News Digest | Office of the Small Business Advocate

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Highlights include:

Santa Rosa, County Due Millions in Stimulus Aid   –   $7.4MM

Forest Service Gets $185 Million to Expand Payroll in Region  –  $185MM

Workforce Investment Board Offers Free Employment Advice  –  $220K

Fiber Dominates Latest US Rural Broadband Stimulus Funds Release  –  $300MM

NIH Funding of Biomedical Innovation Is Creating Jobs, Fueling Industry  –  $10.5BN
Continue reading “Stimulus News Digest | Office of the Small Business Advocate” →

Bankers Without a Clue | Paul Krugman – NYTimes.com

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Jamie Dimon of JPMorgan Chase declared that a financial crisis is something that “happens every five to seven years. We shouldn’t be surprised.” In short, stuff happens, and that’s just part of life.

But the truth is that the United States managed to avoid major financial crises for half a century after the Pecora hearings were held and Congress enacted major banking reforms. It was only after we forgot those lessons, and dismantled effective regulation, that our financial system went back to being dangerously unstable.

It’s the equivalent of “Hey, who can know why these things happen? What am I, an expert? Fuggetaboutit.”

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