The Kensington Review

14 January 2008


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Latest Commentary: Volume VII, Number 6
Candidates Sense Recession, Offer Money -- As the presidential campaign moves toward the stupidly named “Super Duper Tuesday” voting, candidates in both parties are touting their plans for keeping America from falling into a recession. Government can do things to prevent recessions from turning into depressions, and things in the US in 2008 won’t be quite as bad as some think. Still, it seems Richard Nixon was right; everyone is a Keynesian after all.

Kuomintang Triumphs at Taiwanese Polls -- The Kuomintang [KMT] opposition thrashed the Democratic People’s Party [DPP] of President Chen Shui-bian in Taiwan’s parliamentary elections over the week-end. Under a new voting system, the KMT took 81 of the 113 seats, while the DPP picked up just 27. The other five went to independents, who appear to be pro-KMT. This suggests the KMT will also win the presidential election in March.

Bank of America Buys Countrywide -- Last August, Bank of America bought a 16% stake in trouble mortgage firm Countrywide for $2 billion. The shares in Countrywide continued to fall, so BoA is doing what many gamblers know not to do, increase the bet to get back to even. Friday, BoA bought the rest of Countrywide for $4 billion.

Writers’ Strike Improves Golden Globes Ceremony -- The Golden Globes, awarded by the Hollywood Foreign Press Association, had to make do without members of the Writers’ Guild of America and without members of the Screen Actors Guild which is honoring the writers’ picket line. The result was a press conference ceremony that was over in minutes, no red carpet and no musical number celebrating the egos of Hollywood. It was quite an improvement.

© Copyright 2008 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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