Financial Vagabond

Taxpayers are bailing out AIG! So, it looks like government officials are deciding to take a 80% interest in AIG, the nation’s largest insurer valued at about $85,000,000,000,000.00. Looking at these numbers it makes sense why the Fed or Treasury were unwilling to lend a helping hand to Lehman. They had to make a decision… [...]

Secretary Paulson just issued his press release and I gained absolutely no confidence in the current situation.  Actually I’m more concerned than before as he said that the “banking system is safe and sound“.  Will someone please tell me how the banking system is safe and sound when major institutions are failing?  Bank of America was just [...]

Black Monday? Really bad news, and I’m going to the store to get some consumer staples, and cash. If the banking system collapses then cash may not be good for anything. I don’t know if everything is going to crash in one day, but the next week is going to be very interesting. My blood [...]

What concerns me most is looking at the highly probable future outlook… The gov’t is looking to bail out the Freddie and Fannie (dependent upon congressional approval), which will help out new, but not existing home buyers. By adding their debt the gov’t is using our tax dollars and inflation adjusted dollars to secure them. [...]

I was originally going to write a post about how we always hear about the “New World Economy” prior to any boom / bust period.  This time I think the rules have finally changed as the United States is losing if it hasn’t already lost its status as the number one superpower, we are now [...]

GDP cries foul! When the numbers emerged today I was shocked. After my initial amazement sunk in I started to wonder what was “really” going on here… My eighth grade science teacher (yes 8th grade was a long time ago) managed to prove through statistics that I and everyone else in the class didn’t exist. [...]

Who knew?  So, the Federal Reserve publishes all sorts of information that is free.  Yes, you can actually get soemthing for free.  Oh wait a minute of course there is a catch… You pay for it through taxes and inflation.  Guess we are back to the old saying that nothing is free.  Anyways I just [...]

I’m pissed to say the least…  First Bear Stearns and now the Macs.  Why do I as a taxpayer get the privilege of helping these overextended companies stay in business?  It is bad enough that the Fed keeps “printing” money, which keeps the interest rate low and provides liquidity to an illiquid financial industry.  Each time they [...]