The Cynical Economist

Arizona treasurer says checks will bounce amid budget crisis – …unless the capitol buildings are sold before the end of the month, there will be no more money meaning, “If they continue to issue checks without having money from the sale of the buildings, I have to bounce them.

Business tax for unemployment benefits to rise by 50% – This surely will create jobs…not. Unemployment-insurance taxes paid by Arizona businesses will rise an average of 50 percent in 2010, which could further stall hiring.

Sun Belt struggles to begin recovery – No recovery? Don’t tell Obama and Wall Street

Layoff numbers still aren’t pretty – If we’ve hit bottom, we’re still there… LOL

High U.S. debt means slower growth, history suggests – What growth, if the extra that you make is covering only the interest on the debt you have taken? A new report that reviewed 200 years of economic data from 44 nations has reached an ominous conclusion for the world’s largest economy: Almost without exception, countries that are as highly indebted as the United States is today grow at sub-par rates.

In 2009, the Federal Reserve Bought 80% of U.S. Debt?!

JP Morgan – The largest Processor of Food Stamp Benefits in the U.S.

-Question – How is JP Morgan benefiting of processing the food stamps benefits?

He doesn’t answer, but talks about how important is that JP is building infrastructure, so they can process these EBT (electronic benefit transfer) cards (and probably get commission or a fee for doing it), so the peasants will be happy when purchase stuff  from Wall Mart and Costco…