The United Nations says that nearly 212 million people were unemployed in 2009. That is 6.6 per cent of the global workforce. According to a new report the situation in Europe will get worse before the trend improves. The analysis by the United Nations and the ILO are timely, but it would be nice to [...]
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“Venezuela’s decision to devalue the Bolivar culminates an event that the market has been anticipating for a long time,” said Walter Molano, an analyst at BCP Securities. “It helps alleviate the country’s fiscal woes and puts it on a sounder macroeconomic footing.” The currency devaluation that Venezula implemented allows them to sustain the nominal value [...]
Howard Davidowitz sees a similarly horrific future [similar to Japan and Zimbabwe] in store for the U.S. He calls America’s current path, rich in deficit spending and weak in currency a “road to nowhere.” Blame is only on the communist/fascist government during the Bush era. He allowed ( implemented) redistribution of real estate loans to [...]
Nearly 12 years of incompetence of this government’s work and the cracks show in the economy of the United Kingdom, but we should lay the blame where it started: Margaret Thatcher! She began the destruction of the manufacturing base of the United Kingdom, deregulation of the financial system, backed by the oil economy of the [...]
“The market reaction shows how vulnerable some economies are to the aftermath of the debt binge. This highlights how fragile confidence is.” Gerard Lyons, chief economist. This just shows the disconnect that governments have with their citizens. We are not considered citizens to politicians; we are regarded as consumers. That’s what Barack Obama and Bush’s [...]
“I’ve only attended the bilderberg once, but didn’t attend this year” In the following video clip, ex Federal Reserve chairman Paul Volcker of the 1970s and 1980s admits that he attended these secretive group meetings. Up until the last few years this “bilderberg group” was considered only a “conspiracy theory,” but now that Paul Volcker [...]
SANTA BARBARA (MarketWatch) — As global economies emerge from recession, policymakers must watch for unsustainable global imbalances driven by high levels of Asian exports and low U.S. savings rates, Federal Reserve Chairman Ben Bernanke said Monday. In a speech prepared for a conference here, Bernanke warned “global imbalances may reassert themselves.” The U.S. must save [...]
Canada’s loonie hits parity with U.S. dollar Greenback also reached a new record low against the euro By the Associated Press The dollar took another fall on currency markets Thursday, reaching one-to-one parity against the Canadian dollar for the first time in 30 years and falling to a new low against the 13-nation European currency. [...]
The reason the dollar takes a beating in currency markets is because of the near zero interest rates the Fed has been implementing the past year. Nobody wants to invest in dollars when there is no reward (because of low interest rate returns). The side effect of these low interest rates is that banks can [...]
There are several methods which government uses to cover up the severity of the downturn, here are a couple before delving into the meat of the article by the blogger at Washington’s blog: I recall a history professor of mine in undergrad saying that the way unemployment was measured in the great depression is different [...]
With all of the talk of a collapsing US dollar and the discussions from previously US dollar dependent countries of replacing the reserve currency with another one, perhaps the euro, it makes one wonder whether or not a shooting of this kind was related to his position at the international monetary fund — an organization [...]
The fact of the matter is that funding for global trade are supplied mainly by the holder of currency reserves in the world deficits. The United States is stuck and if a devaluation of the dollar ocurs, the global trading system is grinding down. There are people willing and able to accelerate this process, so [...]
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