Archive for May, 2009
Uncle Jay Explains Deficits
May 27
Congress having passed, and President Obama signing new Credit Card regulation will guarantee you’ll be receiving more of those “Important Information Regarding Your Account” notices.
Failing to put a cap on rates charged means that the companies are only limited by the State cap in which they are based. Of course they choose to locate in the few states that have no cap on rates that can be charged. So they have from now till February 2010 to raise rates on existing balances.
No doubt they will.
The Wealthy Downsize
May 20
I know that most of us don’t realize how hard this economic downturn has been on the wealthy. They too are facing a loss of income.
A case in point are the Peacock’s, yes Peacock. They recently held a one day auction for their 10,000 square foot mansion overlooking the ocean in Vero Beach Fla, with a outdoor aviary full of rare parrots, a gym barbershop, salon, six bedrooms and seven and a half bathrooms. Included in the auction were a roomful of 100 hunting trophies, a 2004 Ferrari, a one million dollar ocean-front four bedroom home located nearby, and a $600,000 motor coach. There were also other items, after all they are trying to scale back.
Well neither of the houses sold……..people just don’t know a bargain when they see it. In all they sold 500 items for $300,00. About $200,000 went to the auctioneer and additional expenses.
So they cleared about $100,000 for a afternoon yard sale. Not bad, I think I’ll downsize too.
Stimulate The Dead
May 15
Dead People Get Stimulus Checks
Identity Theft?
President Obama has budgeted $130 Billion for the Iraq and Afghanistan war this year. How about spending more of it on equipping our troops, get the man some pants.