What Credit Crisis?
Steve Forbes, creator of Forbes magazine, is suggesting that the worst of the credit crisis is over. Forbes spoke recently with BBC correspondent Matt Frei about the credit crisis. In summation, Mr. Forbes suggested that that worst of the credit crisis has passed and governments have reacted in an appropriate way, infusing hurting banks with [...]
Canadians Follow Suit
It seems that the Canadians are following the Americans and are also giving a bail-out package to the auto industry, a key industry in southern Ontario with a four billion dollar (canadian) series of loans. This is very similar to what the United States announced a few days ago. This is interesting because only a [...]
Automakers Get Bailout
This morning the White House announced $13.4 billion in loans to the Big Three automakers in Detroit, with an additional $4 billion handout waiting in the wings for February. In return the automakers will let the government inspect their books and promise not to fly their executives around in fancy jets. There is a satirical [...]
Embargo on Cuba
This is is no way new but there have been calls for the United States to end its decades-long embargo on Cuba. Cuba’s recent admission into the Rio Group with 23 other Latin American nations has prompted the organization to increase the pressure it places on President-Elect Obama. It is safe to say, I think, [...]
The Recession is Good for the Environment
It turns out that the recession is good for the environment, as long as Obama has his way. Under a new ten year plan, the president-elect plans to pour $150 billion into projects aimed at improving the energy-efficiency and weatherizing government buildings in order to save big on electricity. By extension, the plan will cut [...]
Gas Prices Linked to Temperature
Once again the cold air snaps at our windows; I can’t see the sunlight for all the frost. I wait until now to fill up my furnace’s oil tank because I know that despite all of the hype, despite the mythical speculative buyers, and despite my own sense, fuel costs go down as the temperature [...]
Why China Can’t Meet Expectations
The Kyoto protocol is coming to the end of its life in 2012 and the world has come far behind in meeting its ambitious emission targets. Not unexpectedly, the United States and China are the worst offenders on record ignoring the fact that they are both large landmasses with huge populations. China got by an [...]
Latvia’s economic boom turns sour
It seems that Latvia is having a tough time. The former Soviet country had been leading European countries in its growth the last few years, but has been badly hit by the economic fears and now has a rapidly shrinking GDP. Apparently, the government refuses to float the Latvians currency but instead pegs it to [...]
Citigroup staves off financial woes by placing expensive newspaper ads
This morning newspapers across America will feature full-page ads by Citigroup reassuring everyone that the economic situation isn’t hurting the company but rather it is the fear-mongering by competitors bringing them down. Likewise if the Feds had only allowed them to merge with Wachovia, Citi would be sitting on their haunches enjoying tea right now. [...]
American Car Manufacturers Cry Foul… Again
Is there a year that goes by without North American car companies crying wolf? The newest excuse is the economic downturn is causing the companies to go belly-up. Give me a break, please! The automotive industry has been suffering for a long time and will continue to do so whether or not they are “bailed [...]
