Below are the most recent 2 friends' journal entries.

Tuesday, December 22nd, 2009
economics [ ikilled007 ]	11:59p	Unemployment funds going 'absolutely broke' Looks like taxes will be going up and benefits going down. That should help the alleged "recovery": 40 state programs to be emptied by the jobless tsunami within two years The recession's jobless toll is draining unemployment-compensation funds so fast that according to federal projections, 40 state programs will go broke within two years and need $90 billion in loans to keep issuing the benefit checks. The shortfalls are putting pressure on governments to either raise taxes or shrink the aid payments. Debates over the state benefit programs have erupted in South Carolina, Nevada, Kansas, Vermont and Indiana. And the budget gaps are expected to spread and become more acute in the coming year, compelling legislators in many states to reconsider their operations. Currently, 25 states have run out of unemployment money and have borrowed $24 billion from the federal government to cover the gaps. By 2011, according to Department of Labor estimates, 40 state funds will have been emptied by the jobless tsunami. "There's immense pressure, and it's got to be faced," said Indiana state Rep. David Niezgodski (D), a sponsor of a bill that addressed the gaps in Indiana's unemployment program. "Our system was absolutely broke." This economic collapse is going to be biblical when all is said and done, and the talking heads and political hacks are talking about a recovery! (2 Comments |Comment on this)
Sunday, December 13th, 2009
economics [ mackave ]	9:11p	Spill some Paul Samuelson is dead at 94. I think it's pretty safe to say he was the most influential economist of the 20th century. One thing that always impressed me about him was his sense of humor, which came through in his writing. There have been several occasions when I was reading something he wrote and I actually laughed out loud. That's pretty remarkable for an economist. (3 Comments |Comment on this)