Spending, Inflation, data, hit – This story is written by the headline

Another headline, another day.

Patrick Lalande on WordPress

photo_2808_20070815-crumpled-dollar-bill-2_400x180.jpg  Do you remember  “Recession headline: Bears like sinking ships“?  Keep it in mind when you read the rest of this story.

I awoke from a fitful sleep to read a headline that pretty much says it all.

Spending, inflation data to hit Wall St.  I would add “this week”. Continue reading

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Interest rates drop – Recession dead ahead

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Fed rate cut not enough to forestall recession or falling stock prices

Patrick Lalande on WordPress

The Fed interest rate cut is not enough to forestall a recession.  Think of it like this.

A big ship (the economy or the stock market) is full under way towards its next port of call (a growing, stable economy) when a storm (the sub-prime loan fiasco) pops up.   The storm winds whip up waves (little glitches in a capitalist system) and blow on the ship until, instead of pointing toward a safe harbor, is now pointing towards rocks (a recession).  Continue reading

Taxes and hidden fees and poor whittled us

Taxes and hidden fees: Wheddle me this. 

Gotcha Capitalism is a new book by Bob Sullivan, author of MSNBC.com’s Red Tape Chronicles, in which he speaks about the little hidden fees that infest our capitalist system.  I brought up that book in a conversation with a friend of mine.  I was railing against hidden fees in my household bills when my friend said, “Our government has been doing that for years.”  

My friend was right.  How could we blame the businesses that serve us if those businesses were taught by our government how to wheedle their way into our pocketbooks.

On the federal level we have income tax, social security and medicare taxes (social taxes); we have sin taxes, we have capital gains taxes, we have estate (death) taxes.   I could go on but the state taxes are just as onerous.  There is income taxes, property taxes, sales taxes, sin taxes, fuel taxes, and they just keep going on and on. Everywhere you turn there is a tax, hidden tax, or a fee.

A little bit here and a little bit there doesn’t seem too “taxing” but those hidden fees add up fast.  I offer an example:

Continue reading