California’s median home price down 40%; U.S. Dollar in Trouble; Obama’s electric car
Friday, June 12th, 2009
House passed a bill that taxes AIG and other bailout company employee bonuses
•impose a 35 percent excise tax on the companies paying the bonuses and a 35 percent tax on the employees receiving them.
•”We want our money back now for the taxpayers,” said House Speaker Nancy Pelosi. “It isn’t that complicated.”
•*Basically, Washington is throwing AIG employees under the bus by placing all of the blame on them.
http://finance.yahoo.com/news/House-passes-bill-taxing-AIG-apf-14693850.html
Oil prices reach new high for 2009 as dollar falls
•A result of the Fed sinking dollar and OPEC cutting supply
http://finance.yahoo.com/news/Oil-hits-high-for-2009-as-apf-14689612.html
Fed to pump another $1 trillion into U.S. economy
•The Federal Reserve inserted an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.
•*Im not financial expert, but it sounds these guys are just printing dollars
•*where did we get one trillion dollars from?
http://www.iht.com/articles/2009/03/18/business/fed.php
Dollar Heads for Record Weekly Loss Versus Euro as Supply Rises
•The dollar headed for a record weekly drop against the euro after the Federal Reserve ramped up supply of the currency by unexpectedly saying it will start buying Treasuries.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPBKcHlztObA&refer=home
Lam Research to cut 375 more jobs
http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSN1946410420090320
Pa. lost 41,000 jobs in February, most since 1996
http://www.forbes.com/feeds/ap/2009/03/19/ap6191001.html
California’s median home price down 40%
•The state median fell to $224,000 in February, compared with $373,000 a year earlier, tracking firm MDA DataQuick says.
http://www.latimes.com/business/la-fi-sfhomes20-2009mar20,1,2320173.story
Foreclosure in WA
Harrison and four competitors have qualified to bid on a 3,300-square-foot McMansion on an acre lot in the south county town of Auburn. The house last sold for $470,450 more than four years ago, the county assesses it at $577,000, and well over $600,000 is owed against it on a pair of loans.
But the foreclosing lender, trying to recoup what it can in an area of plummeting real estate prices, has set the opening bid at just $267,000.
http://www.msnbc.msn.com/id/29744491/
Gov. Strickland says Ohio shouldn’t gamble on casinos to solve its economic woes
•Flint considered this too
http://seattletimes.nwsource.com/html/businesstechnology/2008886619_apgamblingproposalgovernor.html
Obama unveils $2.4-billion grant program to aid electric cars
•Obama visited an electric-vehicle testing center and announces a program for companies to compete for grant money.
•He pledges to put a million plug-in hybrid vehicles on the road by 2015.
http://www.latimes.com/news/nationworld/nation/la-na-obama-pomona20-2009mar20,0,4688845.story
Homeless people living under the state Capitol in Madison, WI
http://www.jsonline.com/news/statepolitics/41472052.html
Citys Public Hospital System to Cut Jobs and Programs
•New York Citys public hospital system is cutting 400 jobs and closing some childrens mental-health programs, pharmacies and community clinics
•*I think were going to see a lot of hospitals that serve the poor shut down and its going to have devastating consequences.
http://www.nytimes.com/2009/03/20/nyregion/20hhc.html?ref=nyregion
Incest Killer Josef Fritzl Gets Life Sentence
•Incest killer Josef Fritzl has been given a life sentence at a psychiatric hospital for locking his daughter in a cellar for decades and letting their baby son die.
•*why am I mentioning this? Stories like this remember me that when people have the freedom to do anything, they often will do anything.
•*I dont think that economy is going to get better this year or the next. In fact, I think that things are going to get worse. And whether you like it or not, the next three years will our true colors.
http://news.sky.com/skynews/Home/World-News/Josef-Fritzl-Guilty-Cellar-Incest-Abuse-Trial-In-Austria/Article/200903315244994?lpos=World_News_Carousel_Region_0&lid=ARTICLE_15244994_Josef_Fritzl_Guilty%3A_Cellar_Incest_Abuse_Trial_In_Austria
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