The January 26 th issue of “The Wall Street Journal” finally provided some really cheery news about the economy with the joyful headline: “Recession Batters Law Firms, Triggering Layoffs, Closings.” I’ve long advocated a government imposed one- to two-generation moratorium on lawyers breeding. It would certainly have the support of the vast majority of Americans, but it would raise some thorny ethical and legal issues. So this is the next best thing: a Darwinian thinning of the one herd that probably takes more from the economy than any other, and contributes little. Cannibals even refuse to eat lawyers. It leaves... continue reading
WASHINGTON – Shares of Hope and Change, Inc. finally rose this past week on word the North American firm would spend more than $1 trillion to dig itself out of a prolonged economic downturn. Hope and Change (NYSE:HOPE), formerly the United States of America, LLC, has suffered several setbacks since popular new CEO Barack Obama took over following a November shareholder vote. Obama’s first few weeks at the company have been marred by controversy. Several of his top management picks had reported tax problems – including his new CFO Timothy Geithner. Three nominees for high level positions were forced to... continue reading
Once newspapers were the answer to the riddle: “What is black and white and read all over?” They’re no longer just black and white, but they are red all over. Red ink spills off nearly every page onto balance sheets across America . The newspaper business is bleeding to death. Hidden amidst the other obits at the back of the Metro section should be “R.I.P. American Newspapers b. 1690 d. Soon – from self-inflicted wounds.” On Feb. 15, the Baltimore Examiner becomes the latest sad casualty of an industry racing headlong to its death. It is not something to celebrate... continue reading
In an interview in the January issue of Esquire, super tough guy and Cleveland Brown of all Cleveland Browns, Jim Brown said: “A liberal is arrogant enough to think he can do you a half-***ed favor. He is superior enough to think he can give you something that you don’t deserve. A liberal will cut off your leg so he can hand you a crutch.” The statements will be no surprise to roughly 50 percent of this country. We know them to be true. It’s why we fear liberals. They are arrogant, thinking they can re-arrange people and institutions and... continue reading
In business there is a crime called “bait and switch.” It refers to the practice of advertising something that a lot of people want, in order to lure them to a store or showroom under fraudulent premise, with no intent whatsoever of providing what was advertised, but instead switching them to a different and much more expensive alternative. For example, an auto dealer might advertise a new 4-door sedan at a ludicrously low price; once you get to the dealership, you discover there’s only one on the lot, deliberately painted a butt-ugly color, with hideous plaid fabric upholstery, and no... continue reading
It’s almost Groundhog Day. Americans wait anxiously for Al Gore to pop up out of his hole, mumble “global warming” to the shivering masses and then scurry away again while we suffer through weeks more of winter. We won’t be disappointed. Gore is scheduled to nuzzle his way into a hearing for the Senate Foreign Relations Committee Wednesday to warn of a warming planet. Temperatures are near freezing. It may even snow. Gore’s appearance in the dead of bone-chilling winter is almost five years to the day since he came out of hibernation in New York and called President Bush... continue reading
The solution to the current economic downturn as put forth by the majority in Congress and touted by most of the news media is for the federal government to enact a massive “stimulus package.” This stimulus package will be weighted towards federal government spending with some redistribution of income labeled a tax cut. The theory behind the program is fairly straight-forward Keynesian (named after John Maynard Keynes) macroeconomics. The hypothesis is that the recession is being caused by a lack of demand, particularly consumer-demand. As consumer sentiment falls, consumers save and this drop in demand causes companies to lay off... continue reading
According to President-elect Barack Obama’s latest radio address, this will be “the most open and accessible inauguration in history.” I guess he forgot to tell his inauguration committee. They have “struck deals with three television networks to the tune of more than $5 million,” according to the Jan. 17 Washington Post. So much for open government. Obama hasn’t even taken the oath of office and he’s blocking media outlets that don’t pay. He even shut out C-Span – almost unheard of in Washington . Instead, his inauguration is raking in cash and limiting access to ordinary Americans to help pay... continue reading
Turning on the news now is a dismal experience. It’s bleak. Most of the reporting and opining is ignorant or superficial, and it’s all depressing. We need some dramatically different news. When I was a kid, I read Mad Magazine, and enjoyed their “commercials we’d like to se” and ”movies we’d like to see.” Here’s some news I’d like to see: Bernie Madoff is sentenced to four years in the Obama administration. He will do hard time as special investigator and prosecutor of financial fraud within banks, financial institutions, public corporations and government bail-outs, rescues and stimuli. And, he must... continue reading
A few years ago, the Securities and Exchange Commission looked at Bernie Madoff’s operation and said it was doing things just fine. Madoff then allegedly went on to scam $50 billion from unknowing investors. Congress instituted the Alternative Minimum Tax to go after a couple millionaires but forgot to adjust it for inflation. It now threatens as many as 24 million taxpayers each year. /*--> */ Government brought us the Katrina fiasco, a broken immigration process and the Department of Motor Vehicles. So naturally, President-elect Barack Obama wants to expand government. And not by a little, either. We’re talking epic... continue reading