Tag archive for ‘Prospects’
Stock Market Meltdown, Bank Failures, and Recession! Oh my!
Last week, the stock market shredded almost 20% of its value, and briefly looked as if the Dow Jones Industrial Average would march to 7000, a number that would bring the market’s value down to almost 50% from its high a year ago. Panicked investors continue to be frenzied as they worry about the value of their 401K’s, IRA’s, and government savings plans, selling in droves and fleeing for the safety of US Treasury Bonds; bonds which are almost worthless in their yields at the moment as demand for bonds far outstrips supply. In the time of market panic - cash is king. Many Americans are asking, however, why this is happening? They were told the Bail Out “rescue” plan would avoid Financial Armageddon! Why then does the market continue to be driven downward, and the credit market continue to be seized?
Bail out on the bailout
Put simply - the problem with the bailout is this - who are we bailing out, exactly, with the current Bill (HR 1424)? The now 420+ paged monstrosity includes things such as tax breaks for employers who encourage their workers to take bicycles to work, a 2500+ dollar tax for electric vehichle purchases, an alternative fuel tax credit, credits for biodesiel and alternative fuels, credits for carbon dioxide sequestration, credits for geothermal heat pumps, tax breaks for the steel industry, changes to the Alternative Minimum Tax system, oh and among my personal favorites, a seven year amortization table for the expenses associated with development and running a motocycle racing track. Yes, you heard me - motocross racing tax provisions.
What would Iran’s nuclear weapons mean for the United States?
I am sure that my readers have all been watching this week Iran’s missile tests. Iran launched a series of missiles to demonstrate its capability to deliver warheads at medium-range distances (2000 km). While there is some dispute as to how many missiles it has launched over the last three days - the message from [...]
Why is the Democratic Party so seemingly anti-democratic?
Washington, D.C. (Right Commentary) - Trotsky said, “None of us desires or is able to dispute the will of the party. The party in the last analysis is always right, because the party is the single historical instrument given to the proletariat for the solution of its basic problems. I have already said that in [...]
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