Archive for November, 2008

13
Nov

Irony: Credit Card Company Desperate For Credit

Posted by The Weakonomist in Thursday, November 13th 2008   Comments Off   

American Express, often referred to as Amex, has decided it will become a commercial bank. Like Morgan Stanley and Goldman Sachs before it, Amex has determined it is better off under the more regulated role of a bank holding company. With it comes the good and the bad.
The good:
The Fed will loan you [...]

under: banking, business, government    
12
Nov

Bailing Out the Auto Companies is a Mistake

Posted by The Weakonomist in Wednesday, November 12th 2008   Comments Off   

Ford’s losing money like John McCain lost electoral votes.  GM burns cash like it’s crack going bad.  Chrysler has some cash, but they can’t sell any cars because they don’t make any good ones.  These companies have been money pits for the passed decade.  So what is the solution?  Run to Congress for a bailout [...]

under: cars, economics, government    
11
Nov

Veteran’s Day:  What It’s Branded And What It Feels Like

Posted by The Weakonomist in Tuesday, November 11th 2008   Comments Off   

On holidays The Weakonomist likes to post something that has nothing to do with finance.

We celebrate Veteran’s Day on November 11th because it marks the day that World War I officially ended.  Veteran’s Day is meant to honor the deceased from war, deceased of war survivors, and currently living veterans of war.  I make this [...]

under: government, personal    
10
Nov

$100 Oil Coming To A Port Near You, But When?

Posted by The Weakonomist in Monday, November 10th 2008   Comments Off   

Earlier this year we watched oil take a roller coaster ride up to $150 but it’s now plummeted to less than half that.  At first we were told it was simply supply and demand establishing a fair value.  We are now fairly certain it was the speculators, which, thanks to new rules, have been mostly [...]

under: business, economics    
8
Nov

Weakonomics Weekend Edition:  Obama Edition

Posted by The Weakonomist in Saturday, November 8th 2008   2 comments already   

Finally we have elected a new president.  Is it time to start campaigning again?  My favorite comic, XKCD summed it up best:
I’m already disappointed in the way the public has reacted to his election.  I grew up in a world where the color of your skin means very little.  From a legal standpoint it means [...]

under: government, personal, personal finance, weakend    
7
Nov

Fed Hires Ex-Bear Stearns Risk Officer… Makes It Way Too Easy

Posted by The Weakonomist in Friday, November 7th 2008   Comments Off   

Come on Bernanke!  Is it still irony when it’s so absurd you never considered it?  Alanis Morissette at least had subtle irony.  I don’t expect Canada to hire George W. Bush as a foreign policy advisor.  I don’t expect Google to hire Ted Stevens as a technology advisor.  I don’t expect Barack Obama to hire [...]

under: banking, economics, government, jobs    
6
Nov

GObama Tearing Up Pennsylvania Ave, What’s In It For Wall & Main St?

Posted by The Weakonomist in Thursday, November 6th 2008   Comments Off   

First of all let me apologize for the Wall St. and Main St. references.  The Weakonomist couldn’t help himself.  We all know Barack Obama is our newly elected Savior president.  Hopefully by now the people that actually cried with joy over the news have gotten over it.  Maybe someone told them electing a black president [...]

under: economics, government    
5
Nov

Top 5 Industries For a Down Market

Posted by The Weakonomist in Wednesday, November 5th 2008   Comments Off   

Not many jobs out there are recession proof.  Some are more at risk than others.  If you work in the industry that started the recession like I do then your job security can be in even more danger.  My list below is not a recommendation for a career change, but instead a helpful reminder that [...]

under: business, jobs, lists    
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