Archive for the ‘Economy’ Category
Dollar to be dropped as the oil currency by 2018
December 2, 200910 states face financial peril
November 12, 2009By Tami Luhby, CNNMoney.com senior writer
And how state officials deal with their fiscal problems could reverberate across the United States, according to the Pew Center on the States’ analysis released Wednesday.
Bernankeism – the art of spreading starvation
November 4, 2009I just happened to come across this one while checking out the Asia Theater.
Bernankeism – the art of spreading starvation
NYC Homeless Situation
November 4, 2009New Efforts Fail to Reduce Homelessness
As Mayor Michael Bloomberg approached the end of his first term in 2004 with his eye toward re-election in 2005, the administration was able to momentarily turn away from the city’s economic turmoil. Bloomberg began re-examining some of New York’s social service policies, putting fighting poverty and homelessness at the top of his list.
This is one in a series, to run between now and Election Day, examining Mayor Michael Bloomberg’s record in key areas. For more on the mayor’s eight years see:
NYC Homeless Shelter Population Reaches All-Time High:
October 13, 2009
By Patrick Markee, Senior Policy Analyst, Coalition for the Homeless
Newly released data show that, for the first time ever, more than 39,000 homeless New Yorkers – including more than 10,000 homeless families, an all-time high — sleep in municipal shelters each night. City data also show that, since Mayor Bloomberg took office, 45 percent more New Yorkers sleep in municipal homeless shelters each year. All in all, the new City data confirm that the current year is the worst on record for New York City homelessness since the Great Depression of the 1930s. Following are the highlights:
coalition for the homeless .org
And then they claim that things are getting better!!! I don’t know. I look around and what I see are new gimicks to relieve people of their money!!! Take a look at the new interest rates and new charges that the financial institutions are inventing!!!
If any New Yorkers are seeing this blog I would love some input.
Economy May 25, 2009
May 25, 2009Anatomy of an economic meltdown
May 19, 2009Will Kokomo Become A Ghost Town?
April 23, 2009The auto workers tsunami has begun, when it will end is anybody’s guess!
From what I have been seeing things look to be more than terrifying for Kokomo, Indiana. Yet here is the thing, in a recent survey 76% want to see GM and Chrysler go bankrupt and not get any more bailout money! That does not bode well for Kokomo. As is the town has a near 20% unemployment rate. Total number of auto worker: 7695 employees ( approx.) not counting those at Delphi for which I don‘t have figures. Whats next is anybody’s guess! here are the links from CNN:
Autoworkers: ‘If we go down, so does this town’
Kokomo, Indiana is ground zero for auto industry layoffs. Workers say if nothing is done to save their jobs, the town is done.
Steve Hargreaves, CNNMoney.com staff writer
Last Updated: April 22, 2009: 2:37 PM ET
NEW YORK (CNNMoney.com) — For the average American, this recession is scary enough.
If you’re an auto worker in Kokomo, Ind., living in a town with nearly 20% unemployment and working for a company that could go belly up any day, it’s downright terrifying.
Let GM and Chrysler go bankrupt, Americans say
76% of survey respondents want to see the automakers face bankruptcy
By Catherine Clifford, CNNMoney.com staff writer
Last Updated: April 9, 2009: 4:14 PM ET
NEW YORK (CNNMoney.com) — Americans are fed up with the Detroit drama.
Three out of four Americans would rather see General Motors (GM, Fortune 500) and Chrysler face bankruptcy than watch the government pour yet another round of bailout cash into the big U.S. automakers, according to a CNN/Opinion Research poll released Thursday.
Update: April 19, 2009
April 19, 2009Where Are We Headed?
April 15, 2009We are only four months into 2009 and already 23 banks have failed the latest being Cape Fear Bank of Wilmington, N.C., and New Frontier Bank of Greeley, Colo. It makes one wonder how many more are going to fail by the end of the year? You might want to check out the various closings here. What’s more, the fact that we seem to be changing tracks from Iraq to Afghanistan does nor bode well. If I am not mistaking we were supposed to pull out of Iraq but I don’t recall anything about an escalation in Afghanistan. So what’s the deal here, pull the soldiers out of Iraq so they will be available for Afghanistan? Has not our economy been battered enough with the previous administrations misadventures into Iraq?
While checking on some information I ran across an old article by Joseph Stiglitz that, while dated seems to bring home the point rather poignantly. It should serve as a reminder of what went wrong with Iraq and how it could repeat itself in Afghanistan. A recent article by the same author points toward the need of a Global Stimulus as this is now a global problem and not just an American one. Many countries already blame the U.S. for this economic fiasco that they have been drawn into.
While it is true that President Obama’s job approval rating might be up the same cannot be said about the direction the country is headed in. Even the American playgrounds The Malls are suffering. Check it out here, here, and here.
So where are we really headed? I Wonder! In the mean time more layoffs are in the works.
Hunterseeker
The Economy Around the World
April 6, 2009Here is a look at economic news from around the world. As you will see the economic crisis is not solely an American problem but one that confronts many countries worldwide.
Japan
Monday, April 6, 2009
EDITORIAL
Worsening economic picture
The Bank of Japan’s Tankan survey of business confidence underlines the severity of Japan’s economic downturn. The diffusion index (DI) for major manufacturers during the three months through March declined to minus 58, down from minus 24 in December, and even worse than the minus 57 recorded in May 1975 during the oil crisis, which until now was the weakest DI since the BOJ started the survey in May 1974. The 34-point drop also was the largest ever.
Germany
German economic crisis deepens
More jobs at risk as engineering drops by half in black day
+++ 50 per cent of contracts lost +++ Daimler cuts shifts +++ Crisis to last until 2010 at earliest +++
The German economy has suffered a black day as it was revealed the key engineering sector has nosedived by 50 per cent.
Workers have been hit hard by the news – with some Volkswagen contract staff going on a hunger strike to protest against losing their jobs.
04-05-2009 18:30
Korea
US May Be Up for 2nd Economic Crisis
By Kim Tae-gyu
Staff Reporter
Over the past few weeks, the stock markets globally have staged rallies on news that the United States will remove toxic assets from its banks, while some economic indicators have shown signs of improving.
From the perspective of a Korean private think-tank, however, this may be another false dawn instead of a harbinger of sustained recovery from the financial crisis.
The Hyundai Research Institute (HRI) projected Sunday that the U.S. housing market where the sub-prime mortgage turmoil initiated the crisis will continue to suffer a downturn causing a secondary crisis anytime soon.
Spain
Friday, 3 April 2009 12:13 UK
Spain predicts surge in jobless
The Bank of Spain has predicted that the country’s rate of unemployment will reach 17.1% in 2009 and 19.4% in 2010.
Spain has the highest unemployment rate in the European Union, with a rate of 15.5% in February, nearly double the EU average, according to Eurostat,
The Bank of Spain is also predicting that the public deficit will hit 8.3% this year and 8.7% in 20
Hunterseekers The Next Great Economic Depression 