Category Archives: Economics

Business, Economics, Media Criticism, Political Commentary

Rick Perry Is An Idiot

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At least based on his interview with O’Reilly.

No, the Occupy Wall Streeters are not looking for jobs, Rick. They’re looking for a big paycheck to cash in on their worthless college degrees, if they even have them.

But even worse, knowing that you were going into that interview that you would be asked about the president’s comments about “Americans being lazy” and knowing that your commercial had taken him out of context, in that he was talking about us bringing in foreign investment, did you point out that in fact that the president was wrong, and that there has been abundant foreign investment in the US because much of the money has nowhere else to go?

No, you just double down on the stupid.

Here’s some advice Rick Perry. Either listen to your political advisers, or fire them. Because this was a huge blown opportunity.

Business, Economics, Political Commentary

The GM Bailout

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The losses are going to be massive:

The $23.6 billion represents a 25 percent loss on the feds $60 billion direct “investment” in GM. But that’s not all that taxpayers are on the hook for. As I explained previously, Uncle Sam’s special GM bankruptcy package allowed the company to write off $45 billion in previous losses going forward. This could work out to as much as $15 billion in tax savings that GM wouldn’t have had had it gone through a normal bankruptcy. Why? Because after bankruptcy, the tax liabilities of companies increase since they have no more losses to write off.

This means that the total hit to taxpayers, who still own about a quarter of the company, could add up to $38.6 billion. That’s even more that the $34 billion on the outside I had predicted in May.

But it’s OK, ‘cuz the president’s campaign supporters got paid off.

Business, Economics, Education, Media Criticism, Political Commentary

The Brain-Dead Left

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Thoughts on their intellectual exhaustion and maleducation:

To our mind, that sentence more than anything we’ve read encapsulates the spirit of Obamaville. It originally appeared in a San Francisco Chronicle story about an incident in which “dozens of college students” invaded a Bank of America Branch, “pitching a tent and chanting ‘shame, shame’ until they were arrested.”

On the way to B of A, they paused at Citi to scream at the walls. These are college students, acting like 2-year-olds throwing a tantrum. What does that tell you about their critical thinking skills–and about the standards of American higher education? The likes of the New York Times expect us to take such incoherent spasms of rage seriously as a political “movement.” What does that tell us about the standards of the liberal media?

Pretty much everything we need to know.