Charitable as the thought might be, Washington simply doesn’t have deep enough pockets to bail out every deadbeat. Did you really think it would stop at a mere trillion for the banks?

DR readers might have been alarmed to read Dan Amoss‘ warning in yesterday’s edition that, “Some in Congress are floating a proposal to steal your 401(k), sell the proceeds, and invest in ‘government-guaranteed’ retirement accounts.”  Alarming especially to folks reading about it for the first time.  So let’s go into a little more depth.

Rick Pendergraft says we won’t see an economic recovery before one of the housing, auto or labour markets stabilize. Friday’s nasty unemployment data and earnings reports from GM (NYSE:GM), Ford (NYSE:F ) suggest that our hopes are resting on real estate.

Congratulations on a long well fought race. Now, “fasten your seat belts, it’s going to be a bumpy ride.” The classic line from Betty Davis seems appropriate. No matter who won this race, they were inheriting a hell of a mess. No need to go into detail, just the list is daunting enough.

It has all the hallmarks of a political thriller: Washington lobbyists, political pressure and money… lots of money

Were, as The New York Times reports today, Fannie Mae (FNM) and Freddie Mac (FRE), which guarantee about $6 trillion dollars in US home loans, unduly “insulated” by Capitol Hill?

Did Congress make it implicit to the companies that any losses would be guarenteed with taxpayers’ hard-won cash?

Investors better keep an eye on bonds this week.While the stock market may be more fun to follow, fixed income is often a stronger gauge of investor expectations of the economy, future U.S. Federal Reserve policy, and inflation.

Really, could the Demos & Repubs have nominated two more energy-illiterate candidates?

Good morning Australia. It’s another triple digit mid-day decline on the Dow. Is this the Obama Rally?

When U.S. Department of Energy analysts told you more than a month ago that gasoline prices would peak at about $4 a gallon around Memorial Day, we told you they were wrong. Gas prices, we said, were destined to head much, much higher.

Look at a nationwide map of foreclosures, and you just might be looking at a hollowed-out future of exurban America. I alluded to this phenomenon a couple of days ago in musing over Sen. Obama’s ill-considered remarks that implied giving the developing world effective veto power over American driving and dietary habits.