Treasury Department Lifts Fannie / Freddie Cap
The Treasury Department has lifted the $400 billion financial “aid” cap that had limited the bailout of Fannie Mae and Freddie Mac.
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Red Cross Spends Over $1B
The Red Cross announced it surpassed 1 billion dollars of spending in 2008. There is some debate as to why expenditures hit a record high. Is it because of the increased need for relief or because of the increased ability to reach relief victims?
The International Committee of the Red Cross (ICRC) is based [...]
Swine Influenza (Flu) Update on Outbreak
In response to an intensifying outbreak in the United States and internationally caused by a new influenza virus of swine origin, the World Health Organization raised the worldwide pandemic alert level to Phase 5 on April 29, 2009. A Phase 5 alert is a “strong signal that a pandemic is imminent and that the time [...]
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World Economic Outlook Update
by The International Monetary Fund (IMF)
World growth is projected to fall to ½ percent in 2009, its lowest rate since World War II. Despite wide-ranging policy actions, financial strains remain acute, pulling down the real economy. A sustained economic recovery will not be possible until the financial sector’s functionality is restored and credit markets are [...]
China Says: Reform the International Monetary System
The People’s Bank of China is calling for a universal currency. Russia has also expressed a desire for the International Monetary Fund (IMF) to use a single, non-dollar based currency. China holds a trillion dollars of US debt in dollars.
The article, What Is a Dollar Worth, considered the risk of future inflation because [...]
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The State Of Advertising
If you search for “NASCAR sponsorship problems” at Google, there are over half-a-million results. NASCAR has seen a huge decline in advertisers. So much so, that entire race teams have been laid-off. It’s not just racing that is being hurt in this economic downturn. Most professional sports, such as the [...]
Another Great Depression?
by widgette.com
Could the current economic crisis lead to another great depression? The Minneapolis Federal Reserve Bank has released a study that suggests the government needs to be careful in order to avoid such a problem. Massive public intervention to maintain employment and investment, if they distort incentives enough, can lead to a [...]
ACORN Saves Homes While Feds Flounder
Oakland “Miracle” Shows Better Path Than “Hope For Homeowners’” Utter Failure
OAKLAND, Calif. – At 6:00 in the morning on Wednesday, February 4, more than 30 members of ACORN gathered at the home of Eddie and Martha Daniels in West Oakland, armed with prayers, cell phones, and the hope that Wednesday would not be a day [...]
Federal Reserve’s Position on the Housing Crisis
by AllRealEstate.com
The Federal Reserve continues to offer plans for owners of distressed real estate.
“The goal of the policy is to avoid preventable foreclosures on residential mortgage assets that are held, owned or controlled by a Federal Reserve Bank,” Fed Chairman Ben Bernanke wrote in a letter Tuesday to Rep. Barney Frank, D-Mass., chairman of the [...]
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Insight: US may face a ‘lost decade’
Financial Times
By Stephen Roach
Published: January 13 2009 17:08 | Last updated: January 13 2009 17:08
No one in their right mind thinks the United States could fall victim to a Japanese-like lost decade. After all, the argument goes, US policymakers have the advantage of knowing what their counterparts in Japan did wrong.
If only it were that [...]