“.. people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said. Interest rates are market driven. The Fed is simply following the market in determining rates. The low rates indicate that money demand is very low; it is a sign of a very weak [...]
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“For the first time in at least six decades, private sector employment is negative on a 10-year basis (first turned negative in August). Hence, the changes are not merely cyclical or short-term in nature.” An economy can’t survive without manufacturing and right now people are making everything off-shore and then selling it back to us [...]
All the news reports from US and Canadian real estate associations touting that the housing “recession has ended” is just about as worthless as the hot air coming out of politicians mouths. Very low interest rates made houses and condos too expensive, especially compared to the price of renting equivalent properties. Logic dictates that this [...]
“We’re going to run out of cash in four and a half weeks. We are going to run out of money. Unless we do something about it, (it will) threaten generations,” Paterson said. When facing the consequences of over spending, why do politicians cut police, teachers, hospitals, and firemen? Why not cut bureaucratic paper shufflers, [...]
‘It cannot be acceptable that the benefits of success in [the banking] sector are reaped by the few, but the costs of its failure are borne by all of us.’ — British Prime Minister Gordon Brown. It is important that the chartered banks be prevented from entering any financial undertaking that involves significant risks and [...]
“According to Statistics Canada, Alberta experienced the largest job losses in the country.” Alberta, for the longest time, was touted as the economic savior and engine, or `the land of milk and honey`of Canada because of its vast tar sand reserves which were being heavily exploited by the rising price of oil around the globe. [...]
“It’s one of the largest losses we have forecasted for an individual loan,” says Steve Kuritz. Dr. David Bronner, CEO of the Alabama Retirement Systems, the 43rd largest investment fund in America, spoke at Rotary Club here yesterday. He is one of the most respected fund controllers in the United States today by his peers. [...]
Bernanke on Unemployment: ‘we don’t think it will get to 10 percent’ A better measure of unemployment is the U-6 numbers and this would make the real number around 17.5 per cent. This measurement includes discouraged workers and people who have very short term temporary low-paid jobs. This statistic is consistent with the numbers of [...]
What went wrong? All of those who grew up during the late sixties and early seventies can probably recollect when people earned on average 1/3 of the net pay (in real value) yet most families could afford to live quite comfortable on a single income They also had more leisure time, subjected to less stress [...]
“That longest and friendliest border in the world is now an invisible Berlin Wall,” Mike Bradley told CBC News regarding the new passport requirements. “They are not playing by the rules” — Dr. Alan Keys Here is some background information on what has transpired in the past five days in the United States and some [...]
‘We are hollowing out our industrial base.’ — Avery Shenfeld, CIBC economist. CIBC calls for loonie intervention ‘Go pick on some other currency,’ CIBC economist Shenfeld says A high-profile Canadian economist has called on the Bank of Canada to use its reserves to defend the Canadian dollar against speculation in extreme cases. In a report [...]
When Hong Kong was returned to China by the British, millionaires escaped and heavily invested in real estate in Australia and that was the beginning of the bubble in prices for goods. It never went down and also helped the Japanese build a strong yen against the US dollar. Basically the US government has helped [...]
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