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Boehner on Bloomberg: Dems' TARP Slush Fund "The Worst Idea I've Ever Heard" |
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| GOP Leader: "I just don't see any reason to use that money to try to pass a bill that's going to do nothing but grow the size of government." |
Washington, Dec 4 -
In an appearance on Bloomberg Television this morning, House Republican Leader John Boehner (R-OH) decried House Democrats’ misguided proposal to pay for another ‘stimulus’ with funds from the Troubled Asset Relief Program (TARP.) Calling Democrats’ plan to turn TARP into a politician bailout the “worst idea I’ve ever heard,” Boehner said these taxpayer dollars should be used to reduce the deficit instead of piling even more debt on our grandkids. Boehner also outlined how Democrats’ job-killing agenda of bigger government and higher taxes is hurting families trying to find work and make ends meet.
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Economist Says the Great Moderation Is Not Over; Technology Is Key to Economic Stability |
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Newswise — The recent financial and economic turmoil has led to claims that the stabilization of the economy for the past 25 years is now over or was even a 'myth' in the first place. But economist James Morley argues that pronouncements of the end of the 'Great Moderation'* are premature.
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Economists Find Predicting Another Severe Global Financial Crisis Is Nearly Impossible |
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The 2008 financial crisis prompted a renewed interest among economists to construct an “early warning system” but a new study concludes that out of 65 potential causes of a global economic meltdown, few factors would have predicted the severity of the crisis across a multitude of countries.
The forthcoming paper for the National Bureau of Economic Research, “Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning,” is co-authored by Professor Andrew Rose, the Bernard T. Rocca, Jr. Chair in International Business & Trade at the University of California, Berkeley’s Haas School of Business, and Mark M. Spiegel of the Federal Reserve bank of San Francisco.
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GM Reports Third Quarter Results Nov. 16; Expert Tells Auto Industry to Proceed with Caution |
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Supply chain expert Panos Kouvelis says it’s time for the auto industry to go through a period of capacity rationalization. “Rationalization is a nice business term,” Professor Kouvelis explains. “I don’t think you appreciate it if you are the one losing your job in the factory, but it is a necessity for management. Companies have to figure out how to match their supply with where demand is. If the demand drops suddenly from 15 or 16 million dollars of cars you sell in North America to 9 or 10…obviously your capacity has to be adjusted and that’s what we call capacity rationalization.” |
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Read More ~ GM Reports Third Quarter Results Nov. 16; Expert Tells Auto Industry to Proceed with Caution
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Japan Unveils Biggest Stimulus Plan |
 | | Pedestrians walk by electric market board in Tokyo, 09 Apr 2009, as Japanese stocks rally to highest close in three months |
Japan's ruling party has unveiled its biggest-ever stimulus package to try to protect the world's second largest economy from a deepening recession.The $154 billion plan outlined by the Liberal Democratic Party Thursday includes emergency spending to protect jobs and boost corporate financing.It also calls for lower taxes on gifts of financial assets. The cut aims to encourage older Japanese to give some of their savings to younger generations likely to purchase expensive items like houses.Japan's fourth stimulus package is worth about three percent of gross domestic product. The economy is suffering its worst recession since World War II, due largely to a collapse in demand for Japanese goods. The global slump in demand has also taken a toll on Germany, Europe's largest economy. The Economy Ministry announced Thursday that industrial production dropped for a sixth straight month in February. The ministry had some positive news, however. Germany's industrial output fell 2.9 percent in February, far less than its 6.1 percent crash in January.The German government, meanwhile, offered Thursday to take over the troubled Hypo Real Estate bank to try to stabilize the financial markets. |
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