Browsing Tag: economy

    Tri-Cities, WA

    Entrepreneurial Idea #718: Make Crime Pay

    December 26, 2008

    In tough times like this, it seems some of our fellow Tri-Citians have found a novel way of making a few extra bucks: by turning in criminals.

    So far this year, Crime Stoppers has paid out $3,800 in rewards to 20 people, with $1,400 given just in October and November, said Mike Blatman, the law enforcement coordinator for Crime Stoppers.

    “It kind of fluctuates, but it is up,” Blatman said. “It’s largely because of the economy and the holidays.” …

    This year, reward money paid is about $1,200 above the average of $2,667 a year, Blatman said.

    Depending on your outlook, that’s either really creative or really desperate. Or maybe a little bit of both. 🙂

    Full story at the Herald web site.


    Mortgage Crisis Didn’t Happen Overnight

    December 22, 2008

    From the New York Times in 1999:

    Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

    In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers.

    I think the problem actually goes back to the ’80s and the Reagan Administration, but have never seen any old articles referencing that.


    Peter Schiff Predicts the Recession (in 2006)

    December 8, 2008

    Bailout: I hate it. I think it’s a terrible idea. When the problem is too many loans, too many bad loans, too many loans that can’t be paid back, etc., the last thing the government should be doing is giving money to banks so they can keep making loans. We don’t need more loans, we need less; and we need more savings.

    Below is a video by an economic guy named Peter Schiff. I don’t know much about him, but I like what I know. Here’s a long video of him that apparently includes clips from 2006 and 2007. I’ve only watched the very first quote he gives (goes up to the 1:15 mark or so), and he is spot on:

    “Sometimes medicine tastes bad, but you gotta swallow it.” Agreed.

    Schiff, by the way, was an economic adviser to Ron Paul during this year’s campaign.