PoliPundit.com

The rhetoric;
the 401K’s that have been wiped out.
The reality;
According to the Employee Benefit Research Institute, workers in every age group and tenure have seen improvements in their retirement accounts since the stock markets hit bottom on March 9. The gains ranged from nearly 15 percent growth among workers ages 25 to 34 with one to [...]

Mickey Kaus makes a prediction:
Here’s a safe political prediction: Despite all the innovative e-mobilization and ad campaigns and town halls and community organizing, the August recess will not produce any effective groundswell of popular support for Obama’s health care reform. Why? The “security” message–which might appeal to the vast middle–is not getting through.
Unfortunately, I’m not [...]

On June 1, 2009 when the S&P 500 hit 947, I cheered as I wrote;
Good News for IRA investors!
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Good News for 401k investors!
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Good News for America!
But there were the naysayers;
Yes it is good news. When the market goes down (as it will do), it will be bad news.
What will you post then?
Two months later, where [...]

I’m not staying up that late, but Timmy the Tax Cheat’s house will be featured on the Daily Show tonight.
Bottom line is that Timmy and his wife bought a house in 2004 for $1.6 million which was a stretch on their income (if you don’t count Timmy’s extra income from tax cheating), tried to sell [...]

Kentucky Senator Jim Bunning has had moments of brilliance standing up against the bailouts, the banksters, and the crooks at the Fed. But he’s widely regarded as past his prime and losing his marbles. Yesterday, he announced that he will not seek re-election.
Will libertarian/constitutionalist hero Rand Paul run? I don’t know, but [...]

Not for the economy, but green shoots for democracy and freedom!
1) Obama approval below 50% for first time
2) Blue Dog Democrats mad as hell about being “lied to” by leadership on ObamaCare

We’re in for much more economic pain than almost anyone realizes, due to a ballooning mortgage problem in the Housing Bubble states – mainly California, Florida, Arizona, and Nevada.
Read this. And then decide if those are “green shoots” or brown crap.

And so it begins:
Beijing will use its foreign exchange reserves, the largest in the world, to support and accelerate overseas expansion and acquisitions by Chinese companies, Wen Jiabao, the country’s premier, said in comments published on Tuesday.
“We should hasten the implementation of our ‘going out’ strategy and combine the utilisation of foreign exchange reserves with [...]

On April 20, President Obama challenged his Cabinet to cut $100 million in spending over the next 90 days.
Well, 90 days has come and gone.
To understand the ambition of these cuts, that’s 0.01% of the size of Obama’s $787 billion porkulus bill. And yet the man who is going to take over the nation’s [...]

Someone please tell me what’s wrong with this idea: Let’s use the unspent part of the $700 billion stimulus to buy up a few million foreclosed homes and… demolish them! The instant reduction in inventory would send home prices soaring! And think of the millions of demolition jobs we’d be creating!
So where do I go [...]

Mea Culpa, mea culpa….
Sen. Martinez to support Sotomayor for Supreme Court;
”Judge Sotomayor is knowledgeable of the law, would be a fair and impartial judge, and seems to have a good understanding of the limited role the judiciary plays in our democracy,” he said.
And he called Sotomayor, a child of the Bronx whose parents were [...]

He’s like the worst of Jimmy Carter…
So far, he seems to be skipping the chapter on Bill Clinton and his generally free-market economic policies and instead flipping back to the themes and comportment of Jimmy Carter. Like the 39th president, Obama has inherited an awful economy, dizzying budget deficits and a geopolitical situation as promising [...]

What data series does this chart represent?

I had plenty of problems with the Bush Administration but I knew the difference between blaming Bush because he was Bush and blaming real fault. That is why I enjoyed poking fun with those on the left by saying if you have hemorrhoids, just blame Bush!
Yesterday, on the radio I was listening to someone talking [...]

Just how far will home prices drop? Well, back when J.P. Morgan Chase swallowed up the collapsing Washington Mutual bank, they needed to figure that out.
Here are their projections from September 2008:

Under their worst case scenario, unemployment would hit 8 percent, and home prices nationwide would decline by 37 percent from the peak.
Now unemployment is [...]