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January 13, 2009

Automotive bailout

So now we are giving billions of dollars to the automotive industry. With this money they will come up with some new efficient car designs and do all the navel-gazing they need to become strong companies once again. Soon people will leap at the chance to buy a new GM car.

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Wealth disappears?

What was lost in the stock market crash of October, 1929? "Still, most academic experts agree on one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying." - http://query.nytimes.com/gst/fullpage.html?res=9B0DE4DC1F3BF932A15753C1A961948260&sec=&spon=&pagewanted=2

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