All right, so mine’s not so great as Hilzoy’s, but we were thinking alike. Here’s me on the Wall Street wonders last night: They need to put down the champagne and pick up some history books. I’d advise them to start with the French Revolution. Specifically, what happened to the “let them eat cake” crowd. …
Category Archive: economy
Mar 16 2009
Outrageous Fatcats
Someone needs to hit these people with an industrial-strength clue-by-four: From the WSJ: “American International Group Inc. will pay $450 million in bonuses to employees in its financial products unit. That division was at the heart of AIG’s collapse last fall, which compelled the U.S. government to provide $173.3 billion in aid to keep it …
Mar 15 2009
The Fallout Continues Apace
Poor Jim Cramer. He just had no idea that a nice comedian like Jon Stewart was gonna pwn his ass: Since his brutal interview with Jon Stewart on Thursday, CNBC host Jim Cramer has largely disappeared from public view. He skipped a planned Friday morning appearance on MSNBC’s Morning Joe, and MSNBC producers were also …
Mar 14 2009
“You Will Like Him When He’s Angry” – Jon Stewart Annihilates Jim Cramer
Steve Benen’s absolutely right. You will like Jon Stewart when he’s angry: In 2004, Jon Stewart appeared on CNN’s “Crossfire,” and explained that the show was “hurting America.” He wasn’t kidding. The brutal appearance exposed the show as something of a farce; CNN’s executives ended up agreeing with Stewart; and three months later, CNN announced …
Mar 09 2009
Damn You, Socialists!
Steve Benen has this chart. I have taken the liberty of modifying it to reflect the opinions of certain of our more conservative lawmakers and “thinkers”: John Cole posted this graph a few days ago. See that column on the far-right edge? That’s where Obama proposes the marginal top-rate should be. It’s also the rate …
Mar 04 2009
Time to Start a Tax-Consulting Business
Via Steve Benen, Jon Chait and his commenter have a bonza idea for playing Robin Hood in today’s economy: My post about ignorant rich people who think they can have a higher after-tax income by holding their earnings under $250,000 a year brought on a follow-up from National Review‘s Stephen Spruiell: But these taxpayers have …
Mar 03 2009
How One of the Biggest Tax Cuts in History Became Known as a Tax Increase
Ladies and gentlemen, allow Digby to present our self-absorbed media in action: And on the subject of economics, their perspective is from the perch of the upper class, particularly those media celebrities who pretend they are men and women of the people, but who aren’t good enough actors to hide that they don’t want to …
Feb 24 2009
Spending Cut Calculator – We Needs One
The always brilliant dday comes up with another brilliant point: One result of the budget mess being resolved here in California was a variety of tax increases (which were mostly flat or regressive and not all that good). The spending cuts were actually larger. However, in two of the weekend editions of the Los Angeles …
Feb 19 2009
We Don’t Need No Stinkin’ Stimulus!
Ah, I’m sure the desperate citizens of these states find it heart-warming that their Con governors are standing on ideology: BATON ROUGE, La. – A handful of Republican governors are considering turning down some money from the federal stimulus package, a move opponents say puts conservative ideology ahead of the needs of constituents struggling with …
Feb 18 2009
The Answer to a Very Good Question
Cujo359, the official Thinking Brain Dog of En Tequila Es Verdad, has an economic post up worth reading in its entirety. But I just want to focus on this bit here: We were also the ones who allowed our manufacturing and services industries to be shipped overseas. Rather than fix the environmental problems with the …
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