Daily Archives: March 21, 2008

I agree with Al Mascitti

If you by letting John Couger into the Rock and Roll Hall of Fame you open the door to a lot of second and third tier rockers.

Mellonkamp (sp?) had maybe two good songs. So why not Eddie Money? Why not Gillbert O’Sullivan? Where does it stop?

The National Association of Sports Writers, or whoever picks inductees screwed up on this one.

Did Anyone Else Hear This Drivel?

On the way into work this AM I heard a Republican DE lawmaker Joe Fitzgerald of the NCC Chamber making some point about how unfair it was to business owners to raise the minimum wage. The quote was something like ‘Let’s face it, the price of everything is going up these days and some of the business owners aren’t going to keep the doors open if they have to pay an extra $0.50 an hour.’

So here is Joe’s that legislator’s statement in real English: Prices for everything are going up. The people that should suffer for that are the people that make the least amount of money in our economy. People working for minimum wage should just have to suffer along, because their food costs are rising, their fuel prices are rising, their energy costs are rising, their rent is rising, but their pay should stay the same, so that the business owner can still make his profit.

Look, if you have an employee that makes minimum wage, $0.50/hour is $20 a week. Give me a break. If all of your competition is in the same boat, you’ll be fine forking out another $100 a week for your 5 employees. Does anyone know who the quote was from this morning? Thanks, Anon.

Maybe if they got better jobs they wouldn’t be poor

An analysis of government data by The Washington Post found that prices have risen 9.2 percent since 2006 for the groceries, gasoline, health care and other basics that a middle-income American family has little choice but to consume. That would cost such a family, which made $45,000 on average in 2006, an extra $972 per year, assuming it did not buy less of such items because of higher prices. For a broad range of goods on which it is easier to scrimp — such as restaurant meals, alcoholic beverages, new cars, furniture, and clothing — prices have risen 2.4 percent.

Wages for typical workers, meanwhile, have been rising slowly. In that same time span, average earnings for a non-managerial worker rose about 5 percent. This contradiction — high inflation for staples, low inflation for luxuries and in wages — helps explain why American workers felt squeezed even before the recent economic distress began.

See just do the math.  If the average American just picked himself up by the bootstraps, stayed in school and didn’t work in a factory job that was being moved to China or Mexico he wouldn’t be a victim to this. 

The economy is fine, The war is fine, the weather is fine..

See, this is all because the democrats wanted this recession to happen!  They should be hung!  Traders!  I love you Mike Castle!

For the first time since the Depression, the Fed has been extending credit directly to securities firms in an effort to stabilize the capital markets. The central bank also expanded the types of collateral that firms can use in buying Treasury securities at a government auction next week. The moves helped shore up confidence in the financial system and set off a rally in shares of banks and brokerage firms.

The CIT Group, a century-old company that lends money to small businesses and midsize corporations, was forced to draw on $7.3 billion of emergency bank credit lines. Its shares and bonds plummeted.

CIT prospered when credit was easy. But its fortunes began to plunge last summer as the credit crisis that began in the market for subprime home mortgages started to spread.

Personally, this isn’t CIT’s fault. It’s the greedy homeowners that had no business going and getting a mortgage they didn’t know they would be able to afford when gas prices were $2 a gallo, milk was $3.5 and electric was $75 a month and Bush was telling them to spend money to defeat terrorism! Idiots! They should know better. They probably have cable and cell phones too…

See, Free Markets bring lower prices

The two largest cellphone service providers — Verizon Wireless and AT&T — won a greater swath of radio spectrum in the government auction that ended this week, heading off new competition that could have led to lower prices for consumers.

Pretty sweet huh? I love our brand of capitalism. Aren’t these the same guys that when asked to break the law, did so?

And shockingly the government had the bidding done in secret. Wonders never cease…

The auction raised $19.12 billion for the Treasury after more than seven weeks of secret bidding

More money to kill the brownies in Iraq! heeeehaaaawwww!