By matt | November 16, 2008
I was always taught that money doesnt grow on trees, however somewhere hidden in Washington, Ben Bernanke has managed to genetically modify an apricot tree to produce freshly minted paper with the likeness of Benjamin Franklin on it. This is bad, its bad for America, as this only will devalue the money already in circulation [...]
By matt | October 20, 2008
By Peter Schiff
October 10, 2008
If you are a mortgage holder who is either struggling with crushing payments, bitter for having overpaid for your home during the bubble, or who has extravagantly refinanced when prices were rising, the government’s landmark $700 billion bailout package has an important message for you: stop making your mortgage payments . [...]
By matt | October 6, 2008
Resources
http://news.bbc.co.uk/2/hi/business/7654025.stm
http://money.cnn.com/2008/10/06/markets/markets_newyork/index.htm?postversion=2008100610
US employers cut 159,000 jobs in September, the most in more than five years, Labor Department figures show.
Unemployment rate is at 6.1%
73,000 jobs cut in August and 67,000 in July
Manufacturers shed 51,000 jobs, construction companies cut 35,000 jobs, retailers lost 40,000 posts, business services axed 27,000 positions and financial services slashed 17,000 jobs. (September)
Golden Parachute (noun)
A golden parachute is a contractual agreement between a company and an employee
(usually an upper executive) specifying that the employee will receive
certain significant benefits if employment is terminated.
The Government bailout means that we, the taxpayers, are picking up this tip in one way or another. Here is a list of the CEOs who [...]
By moe | September 25, 2008
He is either very stupid or very smart. Yes, he has put us in the worst economic crisis since the great depressions. Yes, he asked for 700 billion dollars that is “non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or administrative agency..” Yes, the dollar has depreciated [...]
By matt | September 25, 2008
HONG KONG (MarketWatch) — Chinese regulators have asked domestic banks to stop lending to U.S. financial institutions in the interbank money markets to prevent possible losses during the financial crisis, the South China Morning Post reported Thursday. The China Banking Regulatory Commission’s ban on interbank lending of all currencies applied to [...]