Today's Fresh Blogs...

• Tax and Spend Republicans

  Published: August 14, 2007, 1:42 am

  Tags: George Bush, Economy, Libertarianism

  to war. To be sure, the U.S. economy is the largest national economy in history, and that's the main reason for record tax levels. And tax revenues are not at their peak in terms of percentage of GDP though they're getting close. Earlier in the year OMB estimated that revenues as a percentage of GDP would reach 18.5 percent in 2007. But as of a

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• Run on banks in L.A. as it's time to pay the piper for Countrywide

  Published: August 17, 2007, 2:16 pm

  Tags: Sub Prime Lending, Bush Economy

  full flowering of the Bush economy comes home to roost. The formerly go-go sub-prime market's crashing down -- and one bank's woes are roiling customers.Anxious customers of Countrywide Bank jammed its phone lines, branches and website after the nation's largest mortgage lender -- which owns the bank -- announced it was facing problems from a

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• Foreclosures up 93% from same period last year

  Published: August 21, 2007, 10:40 am

  Tags: Bush Economy, Foreclosures

  There's no story here; move along...Countrywide cuts 500 mortgage jobs.Countrywide Financial Corp., the nation's largest mortgage lender, said Monday it has eliminated about 500 jobs as it tries to ride out problems from a credit crunch that has rocked the home loan industry....The Calabasas-based company also tried to reassure its banking

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• Wal-Mart pulls dog treats; no public announcement

  Published: August 21, 2007, 11:23 pm

  Tags: Bush Economy, Pet Food, Melamine

  No recall needed yet. I guess the big box retailer hoped its customers wouldn't notice that it hasn't been testing imported pet products sold at its stores since the Menu Foods Melamine Affair. Move along...Wal-Mart Stores Inc. quietly stopped selling two brands of dog treats in July, after customers voiced concerns that the Chinese products may

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• U.S. lost jobs in August

  Published: September 7, 2007, 10:18 am

  Tags: Bush Economy

  to have an impact on the economy. Many financial services firms hit by subprime mortgage problems already have begun to announce layoffs.The last time the economy shed jobs was in August 2003, when 42,000 jobs were cut.

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• Greenspan rolls out the CYA strategy

  Published: September 7, 2007, 3:51 am

  Tags: Bush Economy, Real Estate Bubble, Alan Greenspan

  about the now tanking GOP economy? Yes, it could have happened to anyone as you point to other historical crashes in the market. Too bad there's actually a record of your muddled words as well as your actions and inactions. Too bad you never hesitated when the GOP thought easy money was the wave of the future and you never hesitated to

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• Troubled mortgage lender fires 12,000

  Published: September 8, 2007, 3:51 am

  Tags: Bush Economy, Gop Congress

  June instead of 126,000.The Bush administration must be trying to set a record for one of the most miserable jobs growth records in modern history because month after month, year after year the story is always the same. With about 150,000 new job seekers coming into the market every month, try counting how many months we have witnessed jobs

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• Trickle down economics

  Published: September 12, 2007, 3:25 am

  Tags: Bush Economy

  that has carried the US economy in recent years tanks, it just might have a negative impact on spending in other industries? Shocking, really. From GM's CEO while explaining the soft numbers last quarter:In an interview at the annual Frankfurt International Motor Show, Chief Executive Officer Rick Wagoner said the company was watching the

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• US consumer confidence drops

  Published: September 14, 2007, 3:34 am

  Tags: Bush Economy, Gop Congress

  continue to drag down the economy.Consumer confidence fell from 89.3 in August to a dismal 71.1 in September. Let's hope this is the end of the GOP economic experiment.President Bush, meanwhile, is continuing to get low marks for his economic stewardship. Just 37 percent approve of his handling of the economy in September, down from 41

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• $2 billion withdrawn, 30% stock crash by British mortgage lender

  Published: September 15, 2007, 11:00 am

  Tags: Bush Economy, Real Estate Bubble

  The real estate bubble is bursting and it's not pretty. Just as the GOP has some explaining to do concerning their blatant disregard for basic economic fundamentals, the British Labour government and Gordon Brown ought to explain why they thought "easy money" was such a good idea now that everything is falling apart so quickly and violently.

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• Mr Bubble criticizes Bush and GOP economic policies

  Published: September 16, 2007, 5:34 am

  Tags: Bush Economy, Gop Congress, Alan Greenspan

  he could do nothing to stop Bush and the GOP when he was at the Fed is laughable. It's unfortunate for Greenspan that we lived through that period and when all of the insane GOP policies were being shoved through Congress, he offered no criticism and did nothing to stop the insanity. In fact, Greenspan even went on the offensive against

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• August foreclosures up 115% from 2006

  Published: September 19, 2007, 4:10 am

  Tags: Bush Economy, Gop Congress, Real Estate Bubble

  Republican "let industry self regulate" economics in action. Where are all of the GOP members of Congress who allowed the mortgage market to go unchecked these days? They had no problem allowing this new system to discard decades of common sense so they should have no problem stepping up and explaining themselves today. There's no rush though,

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• Tiimmmbbbbbeeeeerrrrrr

  Published: September 20, 2007, 6:49 pm

  Tags: Bush Economy

  The dollar is collapsing again, breaking an important support level against the euro and now equal to the Canadian dollar for the first time since 1976. Ouch.

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• Now Bernanke wants to regulate the market

  Published: September 22, 2007, 3:23 am

  Tags: Bernanke, Bush Economy, Gop Congress, Alan Greenspan

  part of the problem with the economy. The shortfall and run on the bank at Northern Rock in the UK was due to the recent fad in the financial world - mastered in the US by the largest banks, that we suddenly had to have in recent years - where the banks hold little and extend themselves significantly by borrowing from other banks and then

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• US savings and loan with $2.5 billion rescued after defaults

  Published: September 29, 2007, 4:46 am

  Tags: Bush Economy, Gop Congress, Business

  Do they have a loyal Bushie working there or something? It's not exactly a Northern Rock-like failure but it's not insignificant either. At issue with the failed NetBank is over-exposure to loan defaults. Customers have the standard $100,000 FDIC guarantee but it is not clear what happens with deposits that were above that amount

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