Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts

Monday, August 8, 2011

Right address, wrong person





Dude



Totally related:

Treasury Secretary Timothy F. Geithner said European governments need to get their “fiscal house” in order and provide a financial backstop for economies under pressure.

“What Europe needs to do is to make sure that there’s an unequivocal financial backstop,” Geithner said, according to the transcript of an interview with NBC and CNBC television today. “So there is no doubt in anyone’s mind that those countries have the ability and the will to meet their obligations. That’s essential to managing crises.”


It remains one of life's great mysteries that Geithner is able to get out and about laboring with the basketball-sized set of cajones that quote obviously proves he has.

The NYSE doesn't open for another 15 minutes (0600 PDT) so we won't be able to comment until later just how the markets will have reacted to all the "order" we have restored to our fiscal house. Suffice to say, we're not looking forward to it.

Thursday, January 7, 2010

We waited 7 years for that?

Gov. Arnold Schwarzenegger yesterday revisited central goals that have eluded him his entire governorship as he proposed a new jobs program and warned of another painful budget year in his final State of the State address to the Legislature.

The governor also proposed a constitutional amendment that would require the state to spend more on higher education than it does on prisons every year.

Sigh.

Those were the big ideas of how Governor Schwarzenegger was going to get California back on its feet. A training program funded by god-knows-what because we are broke to the tune of $20 billion and growing and a bizarre constitutional amendment that would neither reduce crime nor necessarily improve the quality of higher education which is not even the level of education that needs the most help in this state.

Look, nothing is going to improve the situation in this state right now until we get the CALPERS pension situation under control. We’re blogging on the fly and don’t have any good numbers in front of us but when the state employees union set their current pension agreement with the state back at the height of the tech boom in 1999, they tied benefits to some truly outrageous stock market expectations for the decades to come. We are hamstrung by the defined benefits that the stock market has not been able to cover and this situation will get even worse as time goes on.

There are some other, smaller things we can do though, to help put a dent in labor’s influence in Sacramento. A ballot initiative is afoot to make it illegal to use taxpayer money, deducted from the paychecks of state employees, for political purposes.

Steve Poizner, who is running for governor, is backing the initiative. W.C. Varones describes Poizner thusly, “…a long-time undistinguished moderate politician running for governor as a born-again reformist-populist-conservative…” We couldn’t help but think that describes Schwarzenegger but in reverse.

Anyway, get ye over to W.C.’s place for details on that and another fine idea regarding our legislature. Hint: it works just fine in Texas.

P.S. And while we’re on the subject of ballots and elections, swing by K.T.’s joint, who has a few words on the upcoming special election in Massachusetts on Jan. 19th to find a replacement for Ted Kennedy’s vacated Senate seat.

Sunday, August 12, 2007

"Another 12 Hr. Workday.... but Hey, Still Time to Make it to Home Depot and Circuit City."


Stock market rocked by volatility…. Home loan market in turmoil…. Credit disaster looms….. (yawn)…. Doesn’t appear that we're all getting too worked-up about this impending meltdown. Why not? Not sure but maybe its because we’re just too damn busy working and spending.

Click here for story on Wall Street by Larry Kudlow

http://article.nationalreview.com/?q=OTU5ZmZkZWNkZTU2NTUwMjhhNGYwYjQyZjYyMDFmY2Q=

… and here for a story out of the AP on consumer… morale?