Daily Archives: April 4, 2010


Looting Main Street

Follow this link to the story in Rolling Stone. The sub-title to the article is How the nation’s biggest banks are ripping off American cities with the same predatory deals that brought down Greece.

This is a good story to read if you believe that local government control is better than any interference from the federal government. (Well, maybe not. It’s not clear what you will think after reading this.)

If you are easily offended by some 4 letter words, then the story is not for you.

In case you opt to skip this incredible story (not April 1st anymore), here is the closing of the article:

And even if the regulators manage to catch up with them billions of dollars later, the banks just pay a small fine and move on to the next scam. This isn’t capitalism. It’s nomadic thievery.


Health insurance reform profiles

Follow this link the article in the Chicago Tribune that is A look at how the new law will affect four people in different circumstances.

This shows that you can find an occasional story that tells you about the benefits of the health care reform bill instead of focusing only on the costs.


Romer: Recovery to be export fueled

Follow this link to the UPI story that quotes Christina Romer as saying:

Romer said she thinks the United States will experience “a different kind” of economic recovery from this recession.

“I think it’s not going to be one where consumers come roaring back as the engine of growth,” she said. “It’s going to need to come from our exports.

Who could have imagined that? Not Nightly Business Report which is constantly saying that they don’t know where the recovery is going to come from. Maybe you could have read it here or in the Worcester T & G from that renowned economist, Steve Greenberg.

See my previous post, Capitalism Is The Path To Prosperity, where  on January 24, 2010, I said:

… Since the local consumers have finally realized that they cannot count on rising real-estate values as extra income, they are cutting back on purchases to pay off debts. If they won’t provide the purchasing power to stimulate demand, exports are our next best bet.