Collapse In Tax Withholdings Refutes Improvements In Either Unemployment Or Corporate Profitability – Submitted by Tyler Durden – … On a rolling 12 month basis, individual tax withheld has dropped by nearly 8% YoY, from $1.42 trillion to $1.31 trillion, while company witholdings are down a whalloping 64%, from $274 billion to just under $100 billion! … – Zero Hedge
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Each Job “Saved or Created” Cost $246,436 – … In the case of Cash for Clunkers, the cost to the taxpayer for every incremental car sold was $24,000. In the case for the home-owner’s tax credit, the cost to the taxpayer for every incremental house sold was $43,000. … According to the Obama administration, the stimulus program has “saved or created” 640,329 jobs since its enactment in February. Based upon the $157.8 billion that was released for the program, that equates to a taxpayer bill of $246,436 per job. … – Surly Trader
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paying 104 for MBS – Bernanke’s $50 Billion Hidden Stimulus – idea – by the Fed paying more than par for Agency MBS – … “By the end of March 2010 the Fed will have acquired $1.25 Trillion of Agency mortgages. The total cost of these purchases will be approximately $1.30 Trillion. The difference between the cost and par value is just a way for Bernanke to understate the scope of what he is doing. The extra $50 billion is just more monetary stimulus. ” … – Bruce Krasting blog
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Ron Paul’s Fed-Bashing Wins Over Lawmakers Wary of Bank’s Power – By Catherine Dodge – … During his 11 House terms, Paul has introduced legislation to abolish the Fed six times and to conduct the audits three times. Until now, none was even debated in committee. … – Bloomberg
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major article about GNMA – Mortgage agency’s growth gives fuel to risky lenders – Ginnie Mae enables the firms to issue more taxpayer-backed loans – By Brian Grow and Zachary A. Goldfarb – … More than a dozen lenders with Ginnie’s endorsement have made loans that are now delinquent at rates far in excess of what regulators consider acceptable. And some of these lenders have been accused of misleading both borrowers and the government about these loans. … – Washington Post