My First Chart
I created this chart using the latest data on our economy. I'd supply the source data but there are times when I'll want to keep some things shrouded in mystery. I think it adds to the mood. I'm hoping you can appreciate charts that have an aura of conspiracy about them.
Here's an update.
My secret sources have informed me that although the voyage has run into a few slight snags and snafus, we are currently back on schedule and should be reaching a port of safety shortly.
September 3, 2009
Sinking Feeling
As Treasury Secretary Timothy Geithner headed off to London on Thursday for two days of meetings with central bankers and finance chiefs of the Group of 20 nations, he carried a letter outlining the Obama administration's plans to boost capital levels for banks around the world. Now, most people who haven’t been following this issue may scratch their heads and wonder, “Hasn’t this been done already?”
That’s an awfully good question. The financial system went into spasms last year, requiring a staggering bailout by the taxpayers, because major banks took reckless bets on derivatives and shaky mortgages—capital levels be damned. When the Titanic sank in 1912, it only took a few months for the U.S. and British governments to conduct inquiries and then to take action, boosting the number of lifeboats on sailing vessels. Heck, the U.S. Senate convened an inquiry within hours.
Yet here we are, a year later, and it’s hard to find much in the way of concrete steps to prevent a future apocalypse from taking place....
September 4, 2009
Students Borrow More Than Ever for College
The ripple effects for today's heavily indebted young people are becoming palpable. A growing body of research suggests that tough loan payments are affecting major life decisions by recent graduates, forcing them to put off traditional milestones—from buying a first home to even marriage and having children.
September 6, 2009
Poor economy driving birthrate down
And the decrease is likely to be more pronounced during 2009. A limited review of statewide hospital data shows births plummeting during the first six months of the year.
"It seems to be a common theme I'm hearing from people: 'We can't afford to have more kids with the economy the way it is, so we'll have to wait,' " said Lincoln mommy blogger Christine Young, who hears from women across the country on her site.
Meanwhile...
September 4, 2009
Plan would pay Japanese families to have kids
A proposal to pay parents about $3,400 a year per child has got her thinking seriously about expanding her family. The cash for kids plan is the brainchild of the country's new ruling Democratic Party of Japan, which came into power during the elections this week. The proposal has garnered supporters and critics.
It's like a Cash for Clunkers Program that never ends.
Nevertheless, the money for babies proposal has its critics. Economist Yuri Okina said she wonders where Japan's government is going to come up with the money to fund it.
The answer is so simple. The money is borrowed from the unborn children and grandchildren of course, just like we do in America. That money can then be given directly to the parents right now. Ponzi schemes need ever increasing numbers of investors to keep the party going. Japan's solution is to give birth to more investors as soon as is humanly possible.
You know what? I think I shall remain bearish long-term.
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