skip to main |
skip to sidebar
I find that most people take on new jobs, projects and hobbies for three reasons:
1. To learn something new
2. To pay the bills
3. Because they love doing it
These three things fulfill some of our very basic needs—they give us stability, excitement, ways to contribute and opportunities to grow.
Maxing out your Triangle
Sarah Palin has received her first job offer since failing in her bid to become vice-president of the United States -- to appear in a porno movie.
Florida-based porn director Cezar Capone has offered to pay Palin $2 million to appear in an adult film production.
Capone promises in an open letter on his website that the film would be distributed internationally, shot in high definition and feature a "beautiful mother recognized by all of America as well as the rest of the world -- the most desirable woman over 40."
Palin offered $2M to appear in porn movie
If you were remotely thinking of seeking economic refuge in another country, now would be a good time to do so.
Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday.
The companies, Fannie Mae and Freddie Mac, have been hit hard by the mortgage foreclosure crisis. Their shares are plummeting and their borrowing costs are rising as investors worry that the companies will suffer losses far larger than the $11 billion they have already lost in recent months. Now, as housing prices decline further and foreclosures grow, the markets are worried that Fannie and Freddie themselves may default on their debt.
Under a conservatorship, the shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers.
Let me repeat that incase you missed it. "any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers." The money you and I earn daily, working for ourselves, to better our lives would be taxed even more to bail out 2 companies that we're so drunk with the need to make more and more money. Don't be surprised if it happens, and don't be surprised if General Motors, and many airline companies are next.U.S. Weighs Takeover of Two Mortgage Giants
With Mr Obama closing in on her steadily, it is essential for Mrs Clinton to defeat him decisively on Super Tuesday. Anything less than a crushing victory will allow the race to continue throughout February and well into March, and that will almost certainly prove fatal. After Super Tuesday, the race will shift back towards the sort of state-by-state retail politics that characterised the early primaries, allowing Mr Obama to play to his ability to fire up the crowds at huge rallies that resemble rock-concerts more than conventional politics. The buzz that surrounds him will grow, neutralising Mrs Clinton's greatest advantage, which is the fact that people feel they know a lot more about her.
economist.com | read article
As mentioned in the morning memo, there's a new federal budget proposal out with a whopper of a deficit figure--$410 billion for 2008. To celebrate the occasion, (and his own birthday, best wishes to you, sir) Greg Mankiw writes in the New York Times that his real birthday wish is a world where we didn't bequeath large debts to our children. Being a generation younger than Mr Mankiw, I thank him for his concern.
He is absolutely correct that we face a rather troubling budget picture. Unfortunately, he misses the mark in descrbing how the situation is worse than we think, and how it is better than we think. Mr Mankiw's first great omission is in focusing his column entirely on entitlement spending. Mr Bush's budget increases defence spending by at least 7.5 percent (and one never knows what further appropriations may be required) to a total of $515 billion. That marks the 11th year in a row in which defence spending has increased. Perhaps the world has grown significantly less safe in each of the last 11 years, or perhaps it is time to discuss whether budget cutting zeal ought to be turned exclusively toward entitlements.
Economist.com | read article
If you were remotely thinking of seeking economic refuge in another country, now would be a good time to do so.
