Our Economy!

Now that Detroit’s Big Three need to submit a business plan to Congress who knows what will happen to General Motors Corp., Ford Motor Co. and Chrysler LLC. I don’t think they will have enough time to get this plan to them before Congress goes on their 2-month vacation, must be nice. The Dow Jones dropped almost 450 points. Making this week one of the worst it’s seen in many years. I would like to say that this bailout plan for General Motors Corp., Ford Motor Co. and Chrysler LLC. Is not a good idea? They need to do themselves out of this whole. I’m sick and tired of the Government handing out money to any big businesses out there. We also need to stop handing out money to banks; it’s not working. And what about people like me, who’s lost a lot of money in their 401k’s. First they destroy our economy, then our 401k’s, and now they want use to bail them out. Does this make since to anyone out there, because it makes no since to me. I say let them all fold, who really cares at this point. Our economy is in the trash and there’s no relief in sight. The White House isn’t an ATM!

Tags: Economy

Now Hiring!

You read the title correctly, now hiring. Not me, but Yahoo Inc. is looking for a new chief executive. That’s because co-founder Jerry Yang is stepping down as chief executive. And there are a lot of happy investors out there today. The reason for them being this happy is because Yang blew his chance to sell Yahoo to Microsoft Corp. for $47.5 billion. At that price it would have been a gift to Yahoo investors. But I can also see Yang’s point of feeling Yahoo was worth way more than that. Yahoo very will could be worth more than what it’s trading at right now. The way the economy is dragging stock prices down who really knows. Anyway, this could be a good move for Yang and investors. Yang won’t be going far though; he’s taking on his old job of being Chief Yahoo. To me this sounds like a made up job to keep him close by. After all he still owns a huge part of Yahoo and will always have a lot of pull within the company.

Tags: Jerry Yang, Yahoo Inc

Another Rate Cut!

With the U.S. and World financial markets spinning down out of control, Federal Reserve Chairman Ben Bernanke is thinking of cutting the interest rate again. But he won’t be alone with this cut; other world markets will be doing the same. We will have to wait for this next rate cut though. The Fed will meet again Dec. 16, which will be their last regular meeting this year. With the U.S. economy in its worst shape ever we might need this rate cut sooner. But then again will this rate cut even be enough to help our economy, I really don’t know. I guess we’ll have to wait and see what happens next. Hopefully Bernanke will be able to pull a fresh start out of his hat.

Tags: Bernanke, Rate Cut

Fed Slashes Interest Rate!

The Fed slashed the interested rate used to lending to banks to 1 percent on Wednesday. Just this month alone the interest rate has been cut by a full 1 percent. The interest rate hasn’t been this low in five years. The interest has never been as lower since 1958. So we’re pretty close to seeing history if there’s another interest rate drop. The man in charge is Federal Reserve Chairman Ben Bernanke. I was reading that he and his colleagues stated that they would “monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability.” And I believe he will do as he stated. This cut is showing that the markets at close to the bottom and are ready to come up. Look what happen when the rate was reduced, the Dow dropped? But now it’s on its way back up, and could stay up for the next few days. Who knows, the bottom could have been reached and now it’s on the rise. I sure hope so, I done with it being down.

Tags: Fed, Interest Rate