http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/ Engadget Comments for Recession roundup: Monday morning edition http://www.engadget.com/media/feedlogo.gif http://www.engadget.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:05AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:06AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:12AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Buzz Killington: (Hands Peter a picture of a man riding a Penny Farthing bicycle.) Now, here's a fellow attempting to ride a bicycle. But he's having some trouble, isn't he? And do you know why?
Peter: (Sighs) Why?
Buzz Killington: Because he's a Scot! (laughs) Now, who here likes a good story about a bridge?
Peter: (Groans, lifts his glasses and rubs his eyes) ]]>Jan 26th 2009 11:52AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 12:34PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:13AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
IBM is recruiting massively in Bulgaria and Romania. Guess those reds did win in the end...]]>Jan 26th 2009 10:16AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:24AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
"if we can but prevent the government from wasting the labours of the people, under the pretence of taking care of them, they must become happy." - Thomas Jefferson to Thomas Cooper, 29 November 1802]]>Jan 26th 2009 10:41AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 11:12AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://news.bbc.co.uk/1/hi/world/europe/7807292.stm)]]>Jan 26th 2009 2:56PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:21AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:44AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:29AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:59AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/---
www.chl-tx.com]]>Jan 26th 2009 11:04AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Or are you hoping he does all the work and that he is some type of magician? Do you want your government to do everything for you or will you get off your lazy ass and actually do something as well like a real American?]]>Jan 26th 2009 11:45AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Borrow 800 billion dollars and give everyone a "tax refund" check for $1,000, whether or not they actually pay taxes. Add that $800B to the national debt, and sell more 30 year bonds at, say 3%. Actual cost to the tax payer: $1.2 Trillion dollars.

Assuming of course you can find some one to buy the bonds...

On second thought, that sounds like a really stupid idea.
]]>Jan 26th 2009 12:14PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
There are very few of these left. Today's America is a gimme state: "Gimme this, gimme that. I deserve it!"]]>Jan 26th 2009 12:19PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 1:14PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 1:24PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:31AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Even though My job is actually pretty secure due to the fact that I see an increase in business during bad times, I cant help but feel completely awful for all of these folks.

Despite all of the fanboy flamwars we see here, everyone should be pulling for every company to do better soon for all of our sake!]]>Jan 26th 2009 11:04AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Lemme guess... repo-man or bartender?]]>Jan 26th 2009 11:38AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/A bit more enlightening to civilization than those. But those wouldn't be a bad business to get into these days.]]>Jan 26th 2009 12:05PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:39AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 11:44AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
I lost my job a coupLE of weeks back.

:( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :(

Lucky me i somehow managed to save. Some how I managed to hold myself and defeat inpulse buying. I contained myself from
plunking down money on products I dont need. IN OTEHR WORDS I MANAGED TO BEAT THE VIRAL MILLION DOLLAR MARKETING CAMPAIGNS BESTOWED UPON US EVERY YEAR. TAKE THAT!!! YOU CORPORATE BLOOD SUCKING DRONES.

Sucks that not even my career can help me find a job right now. I am about to take a pay cut hey Harrison Ford did it why not me.

Computer programmer/graphic designer/I.T available anytime. ]]>Jan 26th 2009 10:46AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 9:10PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 10:51AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 11:26AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 11:11AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 11:17AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Feb 2nd 2009 11:26AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 11:22AMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 12:16PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Normally, this would all be good in the long run. It would infuse new ideas into the marketplace. New companies would arise. Unfortunately, government regulation is at least magnitude higher than it was ten years ago, there is a lack of liquidity in financing and the government is only making it worse with the so called bailout and stimulus packages. The best way to help the economy would be for the government to reduce taxes and regulations and get the hell out of the way.]]>Jan 26th 2009 12:56PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 1:17PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 2:00PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
And what regulation was repealed to lead to this current crisis, if you could tell us?

What caused this crisis was legislation like the Community Reinvestment Act and hold-overs from the New Deal such as Fanie Mae and Freddie Mac.

And now we are being asked to pony up for a New New Deal? No thank you.]]>Jan 26th 2009 2:08PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 3:42PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Perhaps a rocket-surgeon would draw the same conclusion you did. An Economist, however, would argue that a barley enforced relect of the post 1929 crash regulating banking and investing houses did not stop the .com bust while it was still on the books. Futhermore the root cause of the current crisis did not stem from the stock market, but from banks, the thousands of banks, that were issuing bad loans to people who should not have received them, at the urging of the U.S. Government.

So, no, sorry. Tossing out the useless and antiquated GSA (which, BTW, one of the original sponsers wanted to repeal soon after having it passed) had nothing to do with the motgage crises started by the CRA and Fannie and Freddie.

Regulation is what is doing us in, not the lack of it, as anyone who is true proponent of deregulation would tell you.]]>Jan 26th 2009 6:06PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
So far they haven't had anyone go postal, but I'm a bit surprised by that since the top firing manager of the company is a complete bitch and actually enjoys it. Personally I think the Friday sacking is the better of the two.]]>Jan 26th 2009 1:20PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 1:24PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Sure... the best way to help the economy would be for Uncle Sam to reduce taxes and regulations and get the hell out of the way...





...so that we could invest into new Enron or Bernard Madoff.





Or the government should TAX the hell out of companies that take jobs overseas?! They build products (often of low quality) overseas, pay nothing for it, they're not taxed for bringing it into the US (US based), but they sell it at 10000% margin. Great, no jobs and higher prices. VIVA CAPITALISM!]]>Jan 26th 2009 1:45PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
"Except in all but the rarest of instances, tariffs hurt the country that imposes them, as their costs outweigh their benefits. Tariffs are a boon to domestic producers who now face reduced competition in their home market. The reduced competition causes prices to rise. The sales of domestic producers should also rise, all else being equal. The increased production and price causes domestic producers to hire more workers which causes consumer spending to rise. The tariffs also increase government revenues that can be used to the benefit of the economy.

There are costs to tariffs, however. Now the price of the good with the tariff has increased, the consumer is forced to either buy less of this good or less of some other good. The price increase can be thought of as a reduction in consumer income. Since consumers are purchasing less, domestic producers in other industries are selling less, causing a decline in the economy.

Generally the benefit caused by the increased domestic production in the tariff protected industry plus the increased government revenues does not offset the losses the increased prices cause consumers and the costs of imposing and collecting the tariff. We haven't even considered the possibility that other countries might put tariffs on our goods in retaliation, which we know would be costly to us. Even if they do not, the tariff is still costly to the economy. In my article The Effect of Taxes on Economic Growth we saw that increased taxes cause consumers to alter their behavior which in turn causes the economy to be less efficient. Adam Smith's The Wealth of Nations showed how international trade increases the wealth of an economy. Any mechanism designed to slow international trade will have the effect of reducing economic growth. For these reasons economic theory teaches us that tariffs will be harmful to the country imposing them.

That's how it should work in theory. How does it work in practice?

Empirical Evidence on the Effect of Tariffs on the Country Imposing Them
Study after study has shown that tariffs cause reduced economic growth to the country imposing them. A few of examples:

1. The essay on Free Trade at The Concise Encyclopedia of Economics looks at the issue of international trade policy. In the essay, Alan Blinder states that "one study estimated that in 1984 U.S. consumers paid $42,000 annually for each textile job that was preserved by import quotas, a sum that greatly exceeded the average earnings of a textile worker. That same study estimated that restricting foreign imports cost $105,000 annually for each automobile worker's job that was saved, $420,000 for each job in TV manufacturing, and $750,000 for every job saved in the steel industry."

2. In the year 2000 President Bush raised tariffs on imported steel goods between 8 and 30 percent. The Mackinac Center for Public Policy cites a study which indicates that the tariff will reduce U.S. national income by between 0.5 to 1.4 billion dollars. The study estimates that less than 10,000 jobs in the steel industry will be saved by the measure at a cost of over $400,000 per job saved. For every job saved by this measure, 8 will be lost.

3. The cost of protecting these jobs is not unique to the steel industry or to the United States. The National Center For Policy Analysis estimates that in 1994 tariffs cost the U.S. economy 32.3 billion dollars or $170,000 for every job saved. Tariffs in Europe cost European consumers $70,000 per job saved while Japanese consumers lost $600,000 per job saved through Japanese tariffs.

These studies, like many others, indicate that tariffs do more harm than good. If these tariffs are so bad for the economy, why do governments keep enacting them? We'll discuss that question in the next section."

source: http://economics.about.com/cs/taxpolicy/a/tariffs_2.htm]]>Jan 26th 2009 3:57PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 2:05PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/
Most of those wonderful Wall Street brokers that helped bring about the collapse of the market and whose firms were bankrupted just upped and moved to other parts of the U.S. at slightly lower salaries to work at other brokerage houses. Big deal. They just traded in their Mercedes for a BMW. I guess that's what's called "roughing it" for certain people. What a laugh.]]>Jan 26th 2009 4:50PMhttp://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/http://www.engadget.com/2009/01/26/recession-roundup-monday-morning-edition/Jan 26th 2009 5:17PM