“This super destructive Japan earthquake is going to cause American interest rates to jump a percent or two or three — possibly more. Indeed, the Japanese are the number one buyer of U.S. debt bonds. Can’t they cash a load of them in to redeem for reconstruction cash? If they try that the Americans will [...]
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“What is happening in Wisconsin clearly shows a disconnection with reality in an economy that has forced many private-sector workers into lower wages and reduced benefits, if they were lucky enough to keep their jobs at all. The outcome of this battle could impact other states where cuts are looming, as well. As this story [...]
Just because investment banks and stock brokerages say you should diversify doesn’t make it true. For the knowledgeable investor, diversification for its own sake merely reduces profits. So, if you’re an independent thinker, what are your alternatives? Talk with an investment advisor, and what’s the first piece of advice you will hear? Diversify your portfolio. [...]
“Camden City Council, as expected, voted Thursday to lay off almost 400 workers, half of them police officers and firefighters, to bridge a $26.5 million deficit. That’s about a quarter of the city’s entire work force.” Five members of City Council voted unanimously to approve the layoff plan — two other members were absent. The [...]
“Mexican tycoon Carlos Slim considered by Forbes the wealthiest man on the world said here that “the global crisis is not over, nothing has been solved, only patches to avoid the worst effects of a great depression”. — BERNAMA MERCOPRESS “The problem is getting worse since countries have accumulated more debt, more deficits and unemployment [...]
“Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency’s value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.” — MyWay News The G-20′s failure to adopt the U.S. stand has underlined [...]
“Gold futures rallied to a record over $1,380 an ounce Thursday, and silver futures rocketed more than 6%, after investors piled into precious metals as a hedge against the sinking U.S. dollar after the Federal Reserve rolled out a new, $600 billion of extraordinary stimulus measures to prevent deflation.” — Marketwatch There are those who [...]
“”The Fed’s best hope seems to be trying to convince investors that short term interest rates are going to remain lower for longer than they currently expect or that inflation is going to be higher. The most likely outcome is that the Fed will buy $500 billion of Treasury securities over the next six months [...]
“Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.” National debts are not a nation borrowing against its future success. They are a benefit for a current generation to [...]
“Rampant issuance of dollars by the United States is saddling China with “imported inflation”, Chinese commerce minister Chen Deming was quoted as saying by state media on Wednesday.” Too many people are using credit to subsidize lives eroded by job losses and working lower paying jobs as more of their old jobs/economy went to communist [...]
“No other financial crisis since the Great Depression has led to such widespread dislocation in financial markets, with such abrupt consequences for growth and unemployment, and such a rapid and sizable internationally coordinated public sector response, the note [IMF report] said, highlighting the severity of the global situation. One way to measure the depth of [...]
“The small amount of job gains during the past few months not only reflects the response to slow output growth, but also a lack of confidence going forward,” said Bart van Ark, chief economist at the Conference Board, a business research group based in New York. “The economy as a whole has been weakened by [...]
“The card emerged when goods began to become scarce,” Suchlicki said. “The government had seized many companies that did not work because the government managed them poorly. Then they decided to distribute groceries through those cards.” — ANTONIO MARIA DELGADO Presented by President Hugo Chávez as an instrument to make shopping for groceries easier, the [...]
“At the news conference Booker also quoted as saying, “Call me Mr. Scrooge, if you want, but they’ll be no Christmas decorations around the city.” The average taxpayer sees government waste every day, yet the politicians are blind to it. It’s not a matter of cutting a hundred million here and there. It’s a matter [...]
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