Budget Deficits For Dummies

This is a clear explanation, actually.

Dow Jones Nosedives

World Markets "Plunging"

Bill Maher On Socialism

Quote Of The Day - Paul Krugman

"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 to those who invoke the confidence fairy, claiming that tough action on the budget will reassure businesses and consumers, leading them to spend more. It doesn’t work that way, a fact confirmed by many studies of the historical record. Indeed, slashing spending while the economy is depressed won’t even help the budget situation much, and might well make it worse." - Nobel Prize-winning economist Paul Krugman, writing for the New York Times.

Who Caused The Deficit?

Not that anyone here doubted it.

Borders Books To Liquidate

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 the changing book industry and the economy hastened the chain's demise. Borders had been seeking a new white knight bidder after a $215 million bid by private equity firm Najafi Cos. dissolved late last week. Creditors and lenders argued the chain would be worth more if it liquidated immediately.