At the World Economic Forum in Davos, China and Russia placed the blame for the global economic crisis on the United States. Most Americans would agree, and so do many other world leaders.
Archive for » January, 2009 «
Where are the jobs going, and what is the effect? When the housing bubble burst in the United States many people thought job losses would be contained to the financial sector. Not so, claim the Brits. The UK reflects what may happen in the US, and thus far the UK is a mirror image.
Category: Economic Impact
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Draft legislation that would change how over-the-counter derivatives are regulated might prohibit most trading in the $29 trillion credit-default swap market. Is this needless regulation or a good idea announced too late to stop a disaster? Let’s ask the biggest party givers – AIG. U.S. regulators and politicians are stepping up pressure on banks to use clearinghouses and agree to increased oversight of the OTC markets to improve transparency amid the credit crisis. Bad bets on credit-default swaps led to the U.S. takeover of American International Group Inc. in September.
Category: Analysis
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Here is some food for thought during the current financial crisis. When I read the book “The Millionaires” I realized that I used some of the same words in previous blog articles and off-the-record discussions: more…
Category: Editorial
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There are many people facing foreclosure. The situation is totally unacceptable. The number of older homeowners facing foreclosure, over 700,000 of whom are 50+, means it will be hard to recover in a slowing economy, and the fact that statistics are that high is also totally unacceptable. Imagine working all your life just to see it disappear, regardless of age. Should we be proud of ourselves for stimulating the economy for a while? The country should have strong economic stimulus plans, and should never rely on duping homeowners to release the equity in their homes for economic gains.
Category: Foreclosure
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