Our financial system is crumbling this week.

[sighyoung]

Well, he'll have to make good on reining in entitlement spending, then.

[Arthur Dent]

Well, even I have some trepidation about spending that will remain after the stimulus is over.

What makes you say that this will happen? Unless I've missed something, it's not authorized in this bill.

[maddash]

Well, even I have some trepidation about spending that will remain after the stimulus is over.

What makes you say that this will happen? Unless I've missed something, it's not authorized in this bill.

No, but once programs are allocated money it's hard for them to go back. Given Congress's track record, it'd be hard to imagine many of those expenditures not carrying over into new bills.

Having our government ramp up spending and then trusting them to bring it back down to what it was before (less would be even better) is asking quite a bit, don't you think? Obviously some things will be one time expenses (you can only build a bridge once, right) but not everything is going to be like that.

[Arthur Dent]

The Kanjorski story appears to be false.

http://www.portfolio.com/views/blogs/ma ... -the-facts

[sighyoung]

The Kanjorski story appears to be false.

http://www.portfolio.com/views/blogs/ma ... -the-facts

Thanks for posting that.

[Jocephus]

[Hungary Jack]

Good article in today's Journal about the impending meltdown in the corporate subprime (junk) debt market. Default rates are expected to spike to 14-19%, which would be an all-time high if it reaches the upper end of the forecast.

[maddash]

Anyone watch the House of Cards documentary on CNBC last night? It was relatively unbiased and just a brilliant recap of the events that have transpired and what led up to them.

[Leroy]

Anyone watch the House of Cards documentary on CNBC last night? It was relatively unbiased and just a brilliant recap of the events that have transpired and what led up to them.

I was just going to post something on this (do great minds think alike? ). I thought it was very good. It was also extremely frustrating. Everybody got wrapped up so much in things going up and never thinking things could go down. I set the dvr so I didn't have to stay glued to the tv, but ended up watching the whole thing anyway. It pretty much showed problems at every level of the process, from the homeowner to the government.

It is on Sunday night also...not sure what time.

[ghostrunner]

Anyone watch the House of Cards documentary on CNBC last night? It was relatively unbiased and just a brilliant recap of the events that have transpired and what led up to them.

I was just going to post something on this (do great minds think alike? ). I thought it was very good. It was also extremely frustrating. Everybody got wrapped up so much in things going up and never thinking things could go down. I set the dvr so I didn't have to stay glued to the tv, but ended up watching the whole thing anyway. It pretty much showed problems at every level of the process, from the homeowner to the government.

It is on Sunday night also...not sure what time.

I just checked and found it on Saturday at 7pm Eastern. I set the DVR - thanks for the tip guys.