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Yesterday we quoted an article in the Australian Financial Review which said the proposed cash for clunkers scheme would:
“[C]ut carbon dioxide emissions by 1 million tonnes and save $344 million in fuel costs in the next 10 years”.

We then wrote, “But when you compare it to Australia’s total CO2 emissions as of 2007 of 374 [...]

Perhaps that’s what you think when you read Money Morning each day.
But anyway, today we’re referring to something sent in by a reader.
Money Morning reader Paul sent us an email on Saturday saying, “Here we go again…” followed by a link to a Sydney Morning Herald article titled “GM to pay $A3.9b for auto financier”.
We [...]

Right now you may be wondering who the big winners from the stimulus programmes and banking bail outs have been, because it sure as hell hasn’t been you.
Well, look no further than two articles yesterday from Bloomberg News:
“Purchases of U.S. Existing Homes Probably Dropped as Credit’s Effect Waned”
That’s the story from Main Street, USA. [...]

A barely known Chinese rating’s agency is crying out for a more ‘realistic and fairer’ international credit risk system.
Right now, the international risk system is dominated by three main companies: Moody’s, Standard & Poors and Fitch.
All three of these companies, didn’t see the global financial crisis coming, or the European debt crisis coming. [...]

I did not hear it, but I read that Ben Bernanke, chairman of the satanic Federal Reserve, admitted that “Our nation’s fiscal position has deteriorated appreciably since the onset of the financial crisis and the recession.”
Well, neither he nor the Federal Reserve are going to take any of the blame, even though they are solely [...]

We’ve only been in England since Friday afternoon. But during that brief time we’ve seen the country go from the shoulders of optimism to the ankles of pessimism.
On Friday afternoon and Saturday it was “England Expects”. An overused catchphrase first coined by Admiral Lord Nelson we think. Or was it the Duke [...]

Filed under: Brazil, Citigroup Inc. (C), Bank of America (BAC), Stocks to BuyThe financial sector has been a strange double-edged sword in portfolios over the past two years or so. In the wake of the Lehman Brothers bankruptcy, billions of wealth was e…