Year Vacation

Today I read that the FED is pledging up to 7.7 trillion dollars to help ease the frozen credit market. Which amounts to approximately $69,268.11 per household. The average household income in 2007 was only $50,233. So if all that money is going to Americans who can't pay their mortgages and investors who, quite frankly, have preformed awfully. We could just skip all of these complicated processes of deciding who gets what and instead just give everyone 51 grand. Then all of those hard working Americans I keep hearing so much about could all take the year off. It would be a Nation wide holiday....all year! There would even be 2 trillion left over (we would give it to Barack Obama to use for his next campaign). I'm really looking forward to this year of plenty. Now I just need to find someone to make me lemonade while we are all on vacation.

congratulations Ta!

My Sister Natasha got married Saturday. Pictures are still forthcoming, but for now I just have a reminder that you should think twice before decorating the honeymooners vehicle. At least that is what my sister Rebecca and my dad realized when they found out, after dropping Ta off at the airport, that they would have to use the "Just married" vehicle for the rest of the week. I'm sure there were more than a few surprised people when they saw my dad driving Becca to school with a big heart around each window.

Obama's School Choice

John Stossell is speaking about school choice here in Salt Lake next week. It comes at an interesting time considering the Obama's have just made their school choice.

Mr. Obama says he opposes such vouchers, because "although it might benefit some kids at the top, what you're going to do is leave a lot of kids at the bottom." The example of his own children refutes that: The current system offers plenty of choice to kids "at the top" while abandoning those at the bottom.

Mark Perry points out that the Obama's aren't the only ones who prefer private schools, public school teachers do as well.

Doing what they are best at

Secretary of Green Technology

Everyone has been trying to figure out where Tim Dehne is going to be moving on to. There has been speculation that he will take over at GM or perhaps follow in Michael Jordon's shoes and take up minor league baseball. All of these rumors are, of course false.
To set the rumors straight; on behalf of the Obama administration I am pleased to announce that Tim Dehne (former VP of R&D at National Instruments) will be the new Secretary of Green Technology.

I know, you would think they would have chosen a publication with an actual reader base for this announcement, but hey, this is the administration of change. I'ts all about giving an opportunity to the little guy.

The next bailout

My Dad just alerted me of the next threat to our economy.

Unless we get an immediate, gargantuan, government bailout of our oil companies our whole free enterprise system may be in peril!

Tax Time

To be clear I am always one of the first to chastise any tax increase. After all, what you tax you decrease, you are essentially saying that thing you are taxing is in someway evil. So things like Capital gains or income taxes I have been quick to criticize. However, there are a few things I support taxing. I support taxes on cigarettes, Alcohol, and things with a negative externality.
Believe me, I loved being able to fill up my car this morning for $28.34, just over half of what I was paying earlier this year. Every politician this summer was saying "We need to end our dependence on foreign fuel". I heard constant whining about souring gas prices and how the government needed to step in. Although since the price is plummeted congress doesn't have people breathing down there necks to do something about it anymore, and like many things, now that congress could do something, they probably won't.
But, perhaps this new administration will show some real change and before everyone decides to pull their SUV's back out of storage they will step in and raise the gas tax.

Depression Economics

Today, Paul Krugman tried to give some encouragement to Obama and the Lame ducks in congress on their bailout plan.

Under current conditions, however, it’s much better to err on the side of doing too much than on the side of doing too little.

Correct me if I'm wrong, but wasn't that what made the great depression, Great?

Under the Mattress Bank

Yesterday I missed our company meeting so my boss gave me a recap. Apparently we are well positioned to make it through the economic downturn thanks to a wise investment we made.

We proved to use our cash wisely, in this case we didn't use it at all.

New stragegy: Be Big

A co-worker of mine who, on first inspection, is clueless to everything going on in the news said,

I guess the new strategy for companies is just to convince congress your too big to fail and so the government has to bail you out.

The big 3 is banking on that strategy, today they came out and said that 1 in 10 jobs is dependent on the auto industry. So they are arguing if the big three go under that unemployment will rise 10%. In a country that has been talking a lot about giving the little guy a chance, taxing the rich guys so the underprivlaged guy gets his shot at glory, you would think we would be happy to hear about the big company failing. This would be the best way for letting someone new climb to the top. Someone who will have better ideas, better technolgies, and even better prices. But I guess we just aren't ready for that type of change.

*The economist highlighted the largest companies today. Funny thing is that these are all the companies that are constantly demonized, yet they (unlike GM, AIG, Ford, and other failing companies) haven't been stealing money from american tax payers.

*UPDATE: Catherine Rampell questions how legit the 1 in 10 argument is.

Teachers salary(subject they teach)=Better schools

Ed Glaeser wrote today the key to better schools is hiring better teachers. Because, as evidence by my last post, the education field is not getting the best and the brightest. Since Dr. Glaeser has already begun giving advice to President-Elect Obama, I decided to throw in my two cents.
The problem is so simple to solve, yet I know it never will be. It became apparent to me when my cousin's wife said,

You know there is a problem with our system when I had to fight to get a job paying $27,000 a year, when Matt (my cousin) had no trouble finding a job paying $60,000 right after graduation.

Lisa was right. There is a problem. The problem is not that her husband was making so much more than her, but that she expected to be paid the same. Matt studied Economics, one of the highest paying majors right out of college, and took a job in DC, one of the most expensive cities in the country. She on the other hand took a job in Utah teaching English. It was no secret she would be getting paid less. Starting salaries for teachers is public information, there is no reason her salary should have been a surprise. Had she wanted more money, she should have switched majors.
But, she gives us the root of the problem when she said she had to "fight to get a job". Fact is in Utah anytime there is a teaching position in English, History, Physical Ed., or Art there are hundreds of applicants. However when my sister, Natasha, applied for a position teaching math she had several schools knocking on her door. This same problem occurs with science teachers. School districts in Utah are constantly pleading for teachers. The solution is so simple, it has already been applied at all of the universities, yet somehow it has eluded public schools: Pay math teachers more, and PE teachers less. If the math and physics majors really are the best and brightest students coming out of our universities, then you are going to have to offer them something better than an History teachers salary to get them in front of a bunch of whining 10th graders.

Who is the smart one on campus?

That being said, could all the teachers stop complaining that they should be getting paid as much as other fields in the "private" sector.

The Rat is DEAD

Finally after being tormented and robbed of our bread three nights in a row, our house will have one fewer mouth to feed.