Storms

Things are not looking great, except that there is a great storm coming. Hopefully the Hurricane season will not contribute to the pending economic doom that is coming.

Book Inspections

Bank examiners from the Federal Reserve and the Comptroller of the Currency are inspecting the books of the two largest U.S. mortgage finance companies, Fannie Mae and Freddie Mac, as the Bush administration prods Congress to approve a plan that would enable it to inject billions of dollars into the companies.

According to Joseph Stiglitz

According to Joseph Stiglitz in his book, Towards a New Paradigm in Monetary Economics, the real reason behind the need of this company was to allow the US government to subsidize the banking sector in a way that wasn't very transparent and therefore avoid the possible resistance.

Hapy 4th

Happy fort of July. Remeber, if you're in debt you don't need to go out and splurge on fireworks, it will take the hole in your pocket and burn it.

Vacation Time

It's gonna be a great July with all the vacation time I've saved up. Posting will be sparse from mid August onwards.