Gregg Henson.com

This is the perfect example of tax cuts working.

Jenny on the blocks latest example of "economic diversification" is the recent announcement that Motown Picture Studios is moving to Pontiac and bringing 5,000 jobs to the region.  This is obviously great news for Southeast Michiganders, yet I don't think the Obamanation is seeing the bigger picture on this and other similar stories.

As they debate the pork laden "spending bill" in Washington why aren't they looking at the best past practices to stimulate growth in the economy?

Tax breaks for business work and they work quickly.  Do you think Motown Pictures would be in Detroit if they weren't given tax breaks, of course not.  The same stimulus is working for Shreveport, La. too as they have become the top city outside of Hollywood for film production, passing Austin, Texas.

So if you have such a great example of tax cuts working, why not extend them to other industries to bring them to Detroit?  Alternative energy, semi-conductors, etc.  Tax cuts attract business owners like chum in the water, Michigan needs to get moving and start making itself a friendly place to do business.  The U.S. is one of the highest taxing nations when it comes to business.

Obama needs to do the same thing and cut taxes for business like Reagan did when he was cleaning up Jimmy Carter's mess, not spend more money on ridiculus pork projects.  What the House and Senete is doing right now is a disgrace,  they are robbing the American people of their treasure.

I hope they get the picture soon, we could all use the right kind of stimulus.

The banks may be hurting worse than we know.

Last Wednesday I got a "courtesy call" from Capital One that my credit card payment was due on December 17th and they offered to take the payment over the phone.  So I stopped the lady and said "You mean to tell me you are calling me 5 days before the payment is due?  Am I past due?"  She replied that I wasn't past due but this was a "courtesy call" to let me know the payment was due next week.

I was annoyed to say the least, I expect credit card companies to call when the payment is late, but it pisses me off they bother you and the payment isn't even due.

It tells me that these banks are hurting even more than we know.  They are working hard to collect any and all cash they can at this point. 

Indy Mac also offered me $1000. to pay off my HELOC, guess they are getting out of the HELOC business since the government took them over and they are trying to dump as many loans as they can to raise cash.

Anybody else notice the banks are hounding you for money even though you are current?

Quick quiz. Who is the world biggest debtor nation?

I was reading a a lot online tonight concerning the US's current economic state and I came across this blog post on Wizbang.

One little fact I read in the post stunned me. Here is the passage.

"As the global credit crunch drives Japan into its first recession since 2001, the country is building roads and airports that have helped make it the world's most indebted major economy"

Japan has borrowed money every year since 1965 to finance its budget, saddling each household with the equivalent of 17 million yen ($182,000) in debt. The spending has pushed the government's debt to the highest among the Group of Seven economies -- 170 percent of annual gross domestic product last year, compared with 63 percent in the U.S., according to the Organization for Economic Cooperation and Development.

This fact stunned me, I know Japan has been in a slower growth mode since it returned from it's 1990's malaise but I didn't think there was anyway they were more in debt that we were as a country.  As a Detroiter I just assumed Japan was doing just fine.  After all, we hear about how much better their auto industry everyday.  Why wouldn't their economy be growing.

I was even more stunned to learn that Japan's debt per citizen was 3 times higher than ours.

Eye opening to say the least.