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We should learn from Hong Kong

 Hong Kong’s government is doing right  instituting  a temporary 50 percent salary tax reduction for 1.4 million taxpayers on Feb. 25. Also announced increased spending on infrastructure, as part of a plan to bolster the economy, which faces its first full-year contraction in more than a decade. John Tsang, Financial Secretary, said In a budget speech to lawmakers,   one-off tax cut, effective for 2008-09, would be capped at HK$6,000 (US$774) for salary earners and cost about HK$4.1 billion (US$528.8 million). The government also plans to spend HK$39.3 billion (US$5 billion) on capital works projects for 2009-10, as well as HK$1.6 billion (US$206.3 million) over 3 years to create 62,000 jobs and internships, and it will launch a program selling government bonds. Tsang said Hong Kong will run budget deficits for the next five years. US government should learn from  Hong Kong

Best explanation of the market crises I've seen yet

A farmer sent his 18 year old son to town and, as a birthday present, handed him a duck.
"See if you can get a girl in exchange for this," he said.
In town, the lad met a prostitute and said, "It's my birthday and all I've got is this duck. Would you be willing to..."
"Sure," she said. "I'm sentimental about birthdays. And besides, I've never owned a duck." Afterwards, she said, "Do you know, for a 18 year old, you're quite a lay. If you do it again, I'll give you back your duck."
"Sure," said the boy.
When his pleasurable work was through, the lad started on his way home. While he was crossing the main street in the village, the duck suddenly flew out of his hands and was hit by a passing beer truck. The driver of the truck felt sorry for the boy and gave him $2.
When the lad returned home, his father asked, "Well, how did you make out?" His son replied, "Heck, I got a fuck for a duck, a duck for a fuck, and two bucks for a fucked-up duck!"

The boy now works for Goldman Sachs

 

 
   

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