Tag Archives: economy

(Tipped by JMG reader Osman)

Unless Congress takes some dramatic action, the long-predicted bankruptcy of the Postal Service may become a reality. The USPS may default on a $5.5B loan which is due at the end of this month. “Our situation is extremely serious,” the postmaster general, Patrick R. Donahoe, said in an interview. “If Congress doesn’t act, we will default.” In recent weeks, Mr. …

From their website: On the 17th of September, we want to see 20,000 people to flood into lower Manhattan, set up tents, kitchens, peaceful barricades and occupy Wall Street for a few months. Once there, we shall incessantly repeat one simple demand in a plurality of voices and we will not leave until that demand has been met. Like our …

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Say goodbye to the Palm Pre and the HP Touchpad. In discontinuing its tablet and webOS phone hardware lines, Hewlett-Packard is killing off several pieces of hardware that it had just released. HP’s newest devices weren’t exactly tearing up the marketplace. According to one report, Best Buy had ordered 270,000 HP Touchpad tablets and only sold 25,000 of them; a …

Sullivan links today to this bit of insanity: In a recent consumer study, 21 percent of individuals surveyed – including 38 percent of those with income below $25,000 – reported that winning the lottery was “the most practical strategy for accumulating several hundred thousand dollars” of wealth for their own retirement. In addition, 16 percent thought that winning the lottery …

Sullivan thinks this might help the Democrats win back the House in 2012.

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This is a clear explanation, actually.

“We currently have a deeply depressed economy. We will almost certainly continue to have a depressed economy all through next year. And we will probably have a depressed economy through 2013 as well, if not beyond. The worst thing you can do in these circumstances is slash government spending, since that will depress the economy even further. Pay no attention …

Not that anyone here doubted it.

Months after declaring bankruptcy and with no buyer in sight, Borders Books has requested the court’s permission to liquidate the stock at its 399 locations. The U.S. Bankruptcy Court of the Southern District of New York is set to approve the move on Thursday. Liquidation sales could start as soon as Friday. In a statement, Borders President Mike Edwards said …

But only if their clerk prints them for you at the airport. Low-fare carrier Spirit Airlines drew gasps last year when it became the first U.S. airline to charge passengers for bringing carry-on bags aboard. On Tuesday, the proponent of fees for nearly everything airborne unveiled another U.S. first: Passengers who have boarding passes printed by a Spirit check-in agent …

So says the governor of Texas.

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