Friday, January 30, 2009

Krugman on Health Care

Says the laureate...
The whole world is in recession. But the United States is the only wealthy country in which the economic catastrophe will also be a health care catastrophe — in which millions of people will lose their health insurance along with their jobs, and therefore lose access to essential care.

Has he never heard of COBRA? The program that lets the unemployed keep their health insurance for eighteen months or until they find a new job?

Or is he ignoring it in a bald attempt to advance a political agenda? Either way he doesn't look too intelligent, let alone persuasive.

Thursday, January 22, 2009

Kennedy Withdraws Her Name

Says Andrew Malcolm.

Good. But it would have been better if Gov. Paterson had rejected her immediately and publicly.

(h/t Insta)

Friday, January 16, 2009

Sens. Bennett and Hatch Oppose Further Bailout

Matt Canham of the SL Trib reports Hatch and Bennett both oppose releasing the remaining $350B of TARP, even though they both supported the program last year. Says Bennett...
I strongly supported the economic rescue plan in October because we were facing a total collapse of the world's financial markets within days; it was a true emergency and we averted that collapse. Now, there is not the emergency we had before.

How does he know TARP prevented collapse? Last I checked, no one knows how the money was actually used.

Meanwhile Treasury Secretary Paulson says the remaining $350B is needed for "bank capital programs" (Reuters). Bennett stood by Paulson when TARP was originally passed, why isn't he standing by him now?

I smell politics.

Thursday, January 8, 2009

Cost of Savings

I don't know who Sudeep Reddy is, but this para he wrote doesn't seem very bright...
For individuals, an appropriate saving rate depends largely on circumstances. Those nearing retirement, of course, have the biggest incentive to save. Everyone else should have six months to a year of liquid savings in case of job loss, say personal finance experts.

So until you're near retirement (55? 60? 64?), you only need to save twelve months' worth of cash. Wow. I really hope those "personal finance experts" are just Mr. Reddy's drinking buddies, and not real professionals giving that advice to real people.