Where Are The Stimulus Dollars Going As Of June 2009?

As hard working citizens, we can't keep an eye on every little detail out there with regard to where are tax dollars are being spent. That's why we try to elect accountable representation and subsequently hold our breath and cross our fingers hoping that they'll actually do their job!

Thankfully, a couple of them do seem to be doing something.

Maryland's Republican Senator Tom Coburn had his office put together an overview where and how some of the stimulus dollars are being spent. The full 45 page report is available here.
You may have already seen the press release for this report however, these ten (10) items of note stuck out and are worthy of a quick once over:

1. $1.5 million in “free” stimulus money for a new wastewater treatment plant results in higher utility costs for residents of Perkins, Oklahoma.

2. $1 billion for FutureGen in Mattoon, Illinois is the “biggest earmark of all time” for a power plant that may never work.

3. $15 million for “shovel-ready” repairs to little-used bridges in rural Wisconsin are given priority over widely used bridges that are structurally deficient.

4. $800,000 for little-used John Murtha Airport in Johnstown, Pennsylvania airport to repave a back-up runway; the ‘Airport for Nobody’ Has Already Received Tens of Millions in Taxpayer dollars.

5. $3.4 million for a wildlife “eco-passage” in Florida to take animals safely under a busy roadway.

6. Nevada non-profit gets $2 million weatherization contract after recently being fired for same type of work.

7. $1.15 million for installation of a new guard rail for the non-existent Optima Lake in Oklahoma.

8. Nearly $10 million to renovate an abandoned train station that hasn’t been used in 30 years.

9. 10,000 dead people get stimulus checks, but the Social Security Administration blames a tough deadline.

10. Town of Union, New York, encouraged to spend a $578,000 grant it did not request for a homelessness problem it claims it does not have.


Hat tip to Michelle Malkin for spreading the word to the masses.

The Big Ten Financial Bubbles Prior To 2008

Nothing new here folks.

These cyclical bubbles and crashes have been going on for hundreds of years. I'm going to delve into this in far greater detail in the coming days and weeks. Stay tuned for much more:

• 1636 - Dutch Tulip Bulb Bubble
• 1720 - South Sea Bubble
• 1720 - Mississippi Bubble
• 1927-1929 - US Stock Price Bubble
• 1970's - Mexico and other developing countries Loan Bubble
• 1985-1989 - Japan Real Estate & Stock Price Bubble
• 1985-1989 - Real Estate & Stock Bubble(s) in Sweden, Finland & Norway
• 1992-1997 - Real Estate & Stock Bubble(s) in several Asian Countries
• 1990-1993 - Mexican Foreign Investment Bubble
• 1995-2000 - US OTC Stock Price Bubble (dot com)

(Source: Kindleberger; 'Manias, Panics, and Crashes')

Just under 400 years of history to look back on and see the similarities. There are many.

Do yourself a favor and buy Charles Kindleberger's 'Manias, Panics, and Crashes' and learn how to react to the current crisis by studying the history of all those that have preceded it. Click below and get it today. It is well worth your time and $10.