today's recession linked to Great Depression

If you are interested in a concise, quick read on how the policies of the Great Depression created the current Great Recession, Dr. Steve Horowitz delivered a speech at GA State University last March. Here is an excerpt from the speech. The full text can be found at:

http://myslu.stlawu.edu/~shorwitz/gsutalk.htm

"There are indeed parallels between this recession and the Great Depression, but they are not what much of the public commentary would lead you to believe. What we are living through today is a recession whose causes are significantly the unintended result of institutional changes made during the Great Depression and whose proposed solutions reflect the same failed understanding of the causes that motivated Great Depression "solutions" that largely ended up doing more harm than good. History is indeed repeating itself, and not in a good way."

Could Obama be the F-word?

Now that I have your attention...this is a test...100 shares of GM stock (or $5 - which ever is greater) to the first person who can tell me what economic system is characterized by the following:

1. gov't forces private enterprise to use their capital in the "national interest"
2. gov't does not nationalize business, but plans economic activity
3. gov't controls the monetary system and uses politics to control wages and prices
4. gov't planning boards set production target
5. "excess" income is taxed
6. protectionist trade policies
7. gov't appoints "representatives" to board of directors of private companies

Recent examples:

1. Federal bailout of AIG and other banks
2. Federal bailout of Fannie Mae and Freddie Mac
3. Federal bailout of GM
4. Cap and Trade & CAFE
5. 90% tax on bonuses
6. Feds block Mexican trucks from entering U.S. in violation of NAFTA


Hint - answer can be found in The Concise Encyclopedia of Economics

Yea, Spring is Here!

IT'S SPRING, YA'LL!

It actually snowed in Atlanta!

Wow! We got our first snow of winter today, March 1. I'm sure some of our readers are sick of snow, but every year we pray for just one or two good snows. If only for a day, we will relish the beauty of big, soft snowflakes falling from the sky. The girls even had some fun batting snowballs.

We are reminded, however, that we are in the Deep South, by the loud crack of thunder that sent Sabatini into a panic. Oh well, we'll take what we can get. We'll be back into the 60's by later this week. The trees are already budding with life and the daffodils are in full bloom. Spring is just around the corner and we are fine with that. The girls don't care for softball practice when its cold.

Take care all!

February Has Come and Gone

Cheese!

We started out February with Jeff's 29th Birthday. He does look young, doesn't he?

Okay, here's our quicky update-

Sports: The girls just finished church league basketball and now rec league softball has started. High school softball season is in the fall, so all of the girls are expected to stay in shape by participating in winter and spring sports. Reagan has also just decided to continue basketball by joining another league that is just starting up. This means that someone will have a practice or a game just about every day of the week. But that's okay, because it's fun for all and keeps these girls healthy and focused.

Work: Jeff's group is going through some expected transitional pains as the new company implements budgetary and administrative changes. That's life and he takes it all in stride.

Other than that, same 'ole, same 'ole. Dogs are great. Weather is warm, cold, warm, cold. Had some golf ball size hail last week but no damage to our house. Waiting for it to turn warm and stay warm!