As Clear as Mud

I have to say, Michael Kinsley makes a good point about the complexity of the rescue plan being put forth by Obama. Spending trillions on a plan that few can understand is not filling me with confidence. The market is up but it's probably just a temporary bounce. I don't think any of this is going to work. There's too much debt and we're just piling more and more on top of it. That's not too hard to understand.

Obama's Press Conference

President Obama didn't reassure me during his press conference yesterday. I still don't understand how the massive spending he is proposing can be the solution when it was overspending and too much borrowing that caused the problem in the first place. The stimulus might prevent a more massive and painful downturn in the short run but in the long run is going to cause more problems with an unsustainable debt and a weakened dollar. Without such a massive stimulus we probably have more pain now but for a shorter period and we would have a chance to re-establish our economy on a sounder basis.

More socialist than Sweden

It's really amazing to see Sweden say no to bailing out Saab while the US government is bailing out everyone in sight. Who's the socialist now? It really says something when the Swedes are more pro-market then we are.

Stewart and Cramer

I liked Jon Stewart's interview with Jim Cramer. I usually don't like Stewart or the Daily Show and thought his famous attack on Crossfire was obnoxious. However, here he intelligently and soberly criticized Cramer and CNBC, raising a lot of good points. Cramer's only defense seemed to be that all these CEOs lied to him.