Non-Paper Daily, 2.18.09

Yeeks! Per a comment on the last post asking, er demanding, the return of the Non-Paper Daily, it is back.

*The stimulus package is official. At just under $800 billion it's big, but in the view of many economists, not big enough for the desired effect. We should start seeing the money flow relatively soon, in fact, the school where I teach was thinking of closing early due to budget restraints, but they may keep the doors open for the entirety of the year due to the influx of these funds.

Interestingly, I'm still very much up in the air about the stimulus package. On the one hand, without it there may be total economic meltdown. On the other, however, is the view that our current economic model of ever-increasing consumption simply cannot go no forever. Eventually it must change and perhaps this was the time for that change. As the saying goes, "Pain Causes Change." A new way of doing things is not going to just happen, it will be a result of dire economic times. We may very well be missing our opportunity for real, substantive, change

*Roland Burris, er "The Magic Man," is back in the news. During testimony before being appointed to Obama's old senate seat he said he had had no contact with Blagojevich or his associates. Apparently that wasn't entirely accurate, which is also known as a lie. Except, in his case, it was under oath, so it is known as a perjury. Ooops. Perjures, like drug traffickers, often go to jail. So the saga continues...

*The American car manufacturers are asking for more money. Looks like this time it will be for another $5-10 billion. I know if they fail it will cause extreme pain around the nation, but how long can we keep propping up failed businesses? If a mom and pop place downtown fails, they won't be receiving any stimulus funds. Since when did capitalistic theory state that once you get big you can no longer be allowed to fail?