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Money Pit in Sand

Built on slave labor and borrowed money, an extravaganza of opulence and misery is set to echo Shelley’s “Ozymandias.” Now all the money is gone, the slaves flee, and kleptocrat rulers fight usurious moneylenders in a background of half built dreams and pooling sewage.
Couldn’t have happened to a nicer buncha thieves.
Soon, as [...]

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Fed Sees Economy Leveling Out

Washington, DC — Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs of stabilizing but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight [...]

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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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Another Great Depression?

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 [...]

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World Recession / Global Slowdown

Markets around the world are falling. This could be the first time that so many countries have slid into recession at the same time. The United States has been in a recession for the past year. Great Britain announced that it, too, had fallen into recession. In Korea, Samsung posted its [...]

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The Consumer Price Index for All Urban Consumers (CPI-U) decreased
1.0 percent in December, before seasonal adjustment, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. The December
level of 210.228 (1982-84=100) was 0.1 percent higher than in December 2007.


Business Week News Headlines

What Yahoo Needs from Bartz Right Now
Nortel Files for Bankruptcy
Retail Sales Fall Off a Cliff
Citigroup: Let the Breakup Begin
Luxury Car Sales Keep Skidding

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