April 2009
11 posts
taxes = 30% of the time you are working for the...
breaking it down… you have to pay taxes because if you don’t you’ll be fined or go to jail.  this is NOT an opt-in system. in order to not go to jail you pay around 30% of your income (unless your in Obama’s cabintet ;-), for an 8 hour work day, that’s 2.4 hours working for the government.
Apr 15th
I want my own special drawing right to...
Apr 14th
Government might extend TARP funds to life insurance companies. Congrats on another industry for making bad calls on mortgage backed securities and getting a bail out. It’s happening so much it’s not even exciting or outrageous.
Apr 11th
Bow before Saudis
Obama literally bowed before the Saudis at the G20… hah! I’ll find the photo of it.. UPDATE: not that big of a deal: http://www.youtube.com/watch?v=9WlqW6UCeaY&feature=player_embedded - still fun
Apr 9th
Fannie & Freddie = more bonus for a job well done
Fannie Maie & Freddie Mac are expected to pay around $210 mill in retention bonuses to 7,600 employees over the next 18 months. In 2008, they lost a combines $108 billion - that’s w/ a B (108,000,000,000.00). 7,600 employees. Average bonus is around $27,000 each (it obviously doesn’t actually work out that way). Average loss per employee is over 14 million.
Apr 8th
Bernanke admits unemployment is going to 10%
Which means that would be the peak, which puts the recovery 6-8 months out form the trough. Right now unemployment is at 8.5% (663,000 jobs in March) according to US Labour Department  - secondary unemployment is probably near 15%
Apr 7th
Mark to Market now = Mark to how I feel like...
The old way of balancing books w/ Mark to Market accounting has now been thrown out the window.  Before companies had to “mark down” assets if the market valued them less than what the company wanted them to be worth.  That no longer applies it’ll all here http://www.fasb.org/news/nr031709.shtml (and very boring). There’s no such thing as market failure due to a...
Apr 6th
No one wants to work for Mr Pres
Of the 373 Obama jobs that need Senate confirmation, only 43 have been filled!
Apr 3rd
The IRS agents can carry guns - little FYI
Apr 3rd
Ya'll are saving too much
The US savings rate (the amount of our paychecks we aren’t spending) is now around 3 percent - the highest in years.  Turns out this is bad for the economy yet good for you. So encourage your friends to spend all their money and hord all of your spare cash!
Apr 2nd
Apr 1st