Category Archives: Economy

Yisroel Pensack: Is Sarah Palin a Follower of American Economist Henry George?

According to an AP report in The New York Times: ANCHORAGE, Alaska (AP) — Records show that Sarah Palin has not paid any property taxes on cabins that have been built on two backcountry plots partially owned by the former … Continue reading

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Yisroel Pensack: Ballot Measure to Overhaul California’s Tax System Receives Clearance to Collect Voter Petition Signatures

The proponent of a constitutional amendment that would overhaul California’s tax system by abolishing or reducing taxes on earned incomes, commerce and industry has received authorization from state officials to solicit signatures needed to place the measure on next November’s … Continue reading

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Federal Reserve Struggles To Loosen Credit Market

The Federal Reserve is operating a program to buy over one trillion dollars worth of mortgage-backed securities. This keeps mortgage interest rates at record lows. This program is expensive and members of the Federal Reserve board are arguing about whether … Continue reading

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Is It Ethical To Bail Out The Profligate?

Randy Cohen writes “The Ethicist” column for the New York Times. You can always count on him to take a liberal position. That’s what makes reading him such a riveting experience. Now he’s come out for bailing out those who … Continue reading

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Housing Remains America’s Biggest Economic Problem

Is the only solution for banks to rewrite loan terms? Will their stockholders put up with this? Why penalize those who are keeping up with their mortgage payments? The Telegraph of London says: One recent report, from property research firm … Continue reading

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Reforming The World’s Financial System

Here’s the view from Jamaica: The Editor, Sir: We are being continuously bombarded by amazing developments out of the unfolding world financial and economic crisis. One of the latest was former Fed Chairman Alan Greenspan’s contrite admission before the United … Continue reading

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Why is the Government Modifying Mortgages?

Peter Viles writes: The L.A. Times today leads the newspaper with a look at Countrywide’s plan to modify up to 395,000 mortgages — 125,000 in California — to make the mortgages affordable to buyers who are living in houses they … Continue reading

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How Do You Know If You Are In Trouble?

Most Americans are not in trouble because of stock market losses in the past month. Most people’s income is not primarily effected by the stock market. If you are trying to get a loan, however, you’re suffering. People about to … Continue reading

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Where Is The $700 Billion Bailout Going?

The Christian Science Monitor reports that the bailout is changing. It’s getting bigger and more ambitious and is looking more like a trillion dollar program. The first change was for the government to start buying a direct stake in banks. … Continue reading

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Reforms Needed To Get Us Out The Mortgage Mess

Harry Rosenfeld writes for SeattlePI.com about the Treasury’s dramatic intervention into the economy. The Treasury is going to buy mortgage-backed securities that the free market does not want. Without this intervention, banks were teetering on the edge of bankruptcy and … Continue reading

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