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U.S. FEDERAL RESERVE STRUGGLES TO REVIVE ECON GROWTH

Posted by Gilmour Poincaree on January 28, 2009

Thursday, January 29, 2009

Agence France-Presse

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

WASHINGTON, D.C.: The US Federal Reserve wraps up a two-day policy meeting Wednesday focused on new tools to revive a moribund economy that has so far failed to respond to its zero-interest rate policy.

The Federal Open Market Committee (FOMC) meeting was being held six weeks after the central bank slashed its base-lending rate to a range of zero to 0.25 percent and predicted “exceptionally low” rates to persist.

An announcement was due around 1915 GMT Wednesday.

Joseph Balestrino at Federated Investors said he expected some clues from the Fed on additional efforts to get credit flowing in the economy.

“There’s not much more the central bank can do on the monetary policy front after having lowered its target federal funds rate to a record low,” he said.

“What may be worth noting is the language the Fed uses to describe the state of an economy that, since the two-day meeting that ended December 16, appears to have worsened on most every front.”

Balestrino said Fed chairman Ben Bernanke and his colleagues “are likely to be more explicit about their plans for quantitative easing—that is, using measures such as direct injections into banks and purchases of debt securities to pump more capital into ailing institutions and the markets.”

Sacha Tihanyi, analyst at Scotia Capital, said the market expects the Fed to take further action to help fire up growth.

“With rates going nowhere for some time, the market’s focus will be on whether the Fed will be looking to buy government—or corporate—securities in the near future,” Tihanyi said.

“This is a highly controversial step and some see this as somewhat of a high-risk policy but on the other hand, it is one of the few avenues the Fed has left open to it with regard to further easing monetary conditions.”

Despite the zero-rate policy, Bernanke and others have repeatedly said the central bank is not out of ammunition to fight the crisis. But Bernanke avoided the use of the term “quantitative easing,” saying the Fed has engaged in what he called “credit easing” to spur more lending activity.

The Fed “has already done a lot and will continue to do a lot” in addition to moving on interest rates, said Nariman Behravesh, chief economist at IHS Global Insight.

The central bank has already offered exceptional aid to banks and other firms, and has been buying up mortgage-backed bonds and commercial paper to help unfreeze credit in those areas.

Analysts say this has helped somewhat but that credit markets remain under stress, with lenders and consumers skittish about taking on new risks.

Morgan Stanley economist Ted Wieseman said he expected nothing dramatic from the Fed meeting.

“Obviously rates have already been cut about as low as they can go,” he said.

“If long-end [Treasury bond] yields continue surging higher, the Fed will undoubtedly eventually step in and start buying, but such an announcement probably wouldn’t come in an FOMC statement.”

Economist Joseph LaVorgna at Deutsche Bank said the Fed might not yet be ready for direct purchases of US Treasuries.

“Even though we believe the Fed will eventually be forced to purchase Treasuries in an attempt to cap their yields we do not believe the Fed is going to announce those intentions today,” he said.

He said some members might be uncomfortable with what could be seen as a drastic step.

“Rather, we expect the Fed to repeat the ‘committee is evaluating the potential benefits of purchasing longer-term Treasury securities.’”

Scott Brown, chief economist at Raymond James & Associates, said each word of the Fed statement would be weighed and parsed carefully.

“The wording of the policy statement will signal future intentions,” he said.

“In each statement, the Fed describes its economic outlook. A darkening in that outlook would likely mean that further stimulus efforts are coming. A brighter outlook would suggest that policy will become less accommodative.”

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PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKING ENVIRONMENT, TRADE DEFICIT - USA, USA | Leave a Comment »

U.S. BUSINESS CLIMATE WORST IN 27 YRS

Posted by Gilmour Poincaree on January 26, 2009

13:17:00 01/26/2009

by Lucia Mutikani – Reuters

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

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PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, CRIMINAL FOREIGN POLICIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FOREIGN POLICIES - USA, FRAUD, HEALTH CARE - USA, HOUSING CRISIS - USA, HUMAN RIGHTS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TERRORISM, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR CRIMES, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

ANALYSIS: HARD TIMES HELP GEITHNER’S TREASURY BID

Posted by Gilmour Poincaree on January 25, 2009

Sunday January 25, 2009

Associated Press

PUBLISHED BY ‘THE STAR’ (Malaysia)

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PUBLISHED BY ‘THE STAR’ (Malaysia)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FOREIGN POLICIES - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, THE WORK MARKET, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

PROS SAY: WE’RE ONLY 2/3 DONE FINDING BANK SKELETONS

Posted by Gilmour Poincaree on January 21, 2009

21 Jan 2009 – 08:26 AM ET

CNBC.com

PUBLISHED BY ‘CNBC’ (USA)

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PUBLISHED BY ‘CNBC’ (USA)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

WALL ST. SINKS ON OBAMA INAUGURATION DAY

Posted by Gilmour Poincaree on January 21, 2009

Wednesday, 21 Jan, 2009 – 05:53 AM PST

Agence France-Presse

PUBLISHED BY ‘DAWN’ (Pakistan)

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PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in AL QAEDA, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

THE NUMBERS ARE HORRIFYING (USA)

Posted by Gilmour Poincaree on January 20, 2009

Jan. 26, 2009

Mohamed A. El-Erian

PUBLISHED BY ‘NEWSWEEK’ – print edition -(USA)

NEWSWEEK – Jan. 26, 2009

GLOBAL INVESTOR

By Mohamed A. El-Erian

THE NUMBERS ARE HORRIFYING

On Tuesday, President-elect Barack Obama inherits an economic calamity, and the situation will get worse in the first few months of his presidency regardless of what he does. How quickly it improves thereafter is not just a matter of which policies he decides to pursue; importantly, it is also a function of how he pursues them. Investors need to pay close attention lest they experience yet another challenging and, in some cases, devastating year.

No one should doubt that we are still in the midst of a historic economic crisis. Having incurred massive losses, individuals and companies around the world are, not surprisingly, saving more—some by choice as they attempt to restore balance to their finances and others by necessity as their credit lines are cut by beleaguered lenders. As detailed elsewhere in this edition of NEWSWEEK, the world has entered an Age of Thrift. Less spending by individuals will mean even lower demand, and the production of goods and services will be cut, again.

The latest economic data vividly illustrate the self-fulfilling nature of this global phenomenon. The numbers are horrifying, and increasingly so. There’s been a violent collapse in industrial production in Europe; the latest monthly data now show annual contractions of 17 percent in Spain, 13 percent in the U.K., 9 percent in France and Italy, and 6 percent in Germany. Emerging economies are now on the same course, with contractions of 9 percent in Russia and 4 percent in Brazil.

At the same time, the labor market is deteriorating dramatically in both Europe and America. The United States has now registered 12 consecutive months of job losses, including more than half a million in December, bringing the 2008 total to 2.6 million—a level not seen for more than 60 years. The crisis continues to catch people by surprise, suggesting that too few people sufficiently understand its dynamics. The U.S. Commerce Department reports that December retail sales declined at more than twice the rate expected by most forecasters, and further extended the record for consecutive monthly declines, now six .and counting. President elect Obama faces the prospect of more corporate defaults, pension losses and personal bankruptcies in the coming months. Fortunately, he has already shown that he has a good understanding of the need for an aggressive fiscal stimulus, and Congress seems to be onboard.

Without massive public stimulus, there is little chance of countering the highly disruptive consequences of a too sudden and too prolonged ascent of the Age of Thrift.

Yet there is a risk that this consensus could break down in quibbling over the details. Specifically, we should stop the bickering over whether to cut taxes or raise spending. Both are required. The tax cuts should work mainly through employment channels, including a cut in the payroll tax as this will directly help employment and limit the fall in consumption. Government spending should focus on sectors that will quickly raise resource productivity, like infrastructure, which helps lower production costs, and social services, which raise human productivity overtime.

Obama also needs to step up efforts to alleviate the credit crunch. This is not about an immediate recovery in the banking system. It won’t happen. The sector is too damaged to act as a conduit of funds to the general economy. Instead, the government must come up with more imaginative ways to provide direct financing, particularly for mortgages and some areas of consumer finance.

Obama’s economic appointments suggest that he understands how important it will be to get the design and implementation of these policies right. The highly capable Larry Summers and Tim Geithner should focus on coming up with a master plan to lead the country out of the crisis. This will ensure that the immediate measures implemented are consistent over time with a resumption of economic growth and rising productivity.

Managing expectations is also more important than ever. In his remarks on the financial crisis in November and December, Obama came across as informed, committed and careful not to over-promise. Yet his efforts have been largely negated by recent talk out of Washington of regulatory clampdowns, potential abrogation of property rights and other non-market solutions. The president-elect will have to step up quickly to the challenge of consistently better communication if he is to instill the confidence that is critical for a meaningful economic turn later this year.

Finally, Obama should signal clearly that he knows a global dislocation requires a global response. What was a U.S. financial crisis has morphed into a challenge to the international market system. An effective solution will not materialize unless the United States takes a policy leadership role on the global stage. It’s a role no other country can credibly play. With Obama as president, the world is exceptionally welcoming to U.S. leadership. He must seize this opportunity for the economic good of America, and the world.

ELERIAN is CEO and co-CIO of PIMCO and author of “When Markets Collide: Investment Strategies for the Age of Global Economic Change,” winner of the 2008 FT/Goldman Sachs business book of the year award.

PUBLISHED BY ‘NEWSWEEK’ – print edition -(USA)

Posted in AGRICULTURE, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, HEALTH CARE - USA, HOUSING CRISIS - USA, HUMAN RIGHTS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

A FABLE IN THE FOLLY – AS A LEADER SEEKS TO BECOME A LEGEND – AS A CARD-CARRYING MEMBER OF THE VAST RIGHT-WING CONSPIRACY, I HAVE A SPECIAL INAUGURATION DAY MESSAGE FOR MY FELLOW CONSERVATIVES: SHUT UP

Posted by Gilmour Poincaree on January 20, 2009

Tuesday, January 20, 2009

by Michael Graham

PUBLISHED BY ‘THE BOSTON HERALD’ (USA)

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PUBLISHED BY ‘THE BOSTON HERALD’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE PRESIDENCY - USA, THE WORK MARKET, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, USA HUMOR | Leave a Comment »

ISSUES CANNOT BE RESOLVED IMMEDIATELY: OBAMA (USA)

Posted by Gilmour Poincaree on January 19, 2009

0600 PST, Monday, January 19, 2009

The International News

PUBLISHED BY ‘THE INTERNATIONAL NEWS’ (Pakistan)

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PUBLISHED BY ‘THE INTERNATIONAL NEWS’ (Pakistan)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CRIMINAL FOREIGN POLICIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FOREIGN POLICIES - USA, FRAUD, HATE MONGERING AND BIGOTRY, HEALTH CARE - USA, HOUSING CRISIS - USA, HUMAN RIGHTS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, PENSION FUNDS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TERRORISM, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR CRIMES, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

REPUBLICANS BEND RULES TO MAKE SURE OTHERS CAN’T – SEEN BIG FOOT LATELY? THEN YOU’VE PROBABLY SEEN AN UNDOCUMENTED WORKER USING A FAKE ID TO VOTE (USA)

Posted by Gilmour Poincaree on January 18, 2009

Sunday, January 18, 2009

by John Kelso – American-Statesman Staff

PUBLISHED BY ‘THE AUSTIN AMERICAN-STATESMAN’ (USA)

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PUBLISHED BY ‘THE AUSTIN AMERICAN-STATESMAN’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA, USA HUMOR | Leave a Comment »

THE BUSH LEGACY OUT OF AMERICA: AS BARACK OBAMA PREPARES FOR THE WHITE HOUSE, A REVIEW OF HIS PREDECESSOR’S EIGHT YEARS IN POWER SHOWS HE WAS THE LEAST SUCCESSFUL PRESIDENT EVER. HOW DID IT GO SO WRONG?

Posted by Gilmour Poincaree on January 12, 2009

Sunday, 11 January 2009

by Rupert Cornwell

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

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PUBLISHED BY ‘THE INDEPENDENT’ (UK)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CRIMINAL ACTIVITIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES - USA, HATE MONGERING AND BIGOTRY, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

2009 BUDGET DEFICIT IS ESTIMATED AT $1.2 TRILLION (USA)

Posted by Gilmour Poincaree on January 8, 2009

January 7, 2009

by Andrew Taylor – Associated Press Writer

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

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PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA | Leave a Comment »

FIGHTING OFF DEPRESSION (USA)

Posted by Gilmour Poincaree on January 6, 2009

January 5, 2009

by Paul Krugman

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (UK)

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PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (UK)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, DEPRESSION, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, THE WORK MARKET, TRADE DEFICIT - USA, USA | Leave a Comment »

HARSH DOSE OF REALITY TO HIT AMERICA AFTER INAUGURATION

Posted by Gilmour Poincaree on January 2, 2009

January 3, 2009

Ian Munro in New York

PUBLISHED BY ‘THE SIDNEY MORNING HERALD’

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PUBLISHED BY ‘THE SIDNEY MORNING HERALD’

Posted in AGRICULTURE, AL QAEDA, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, DEFENCE TREATIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EDUCATION, ELECTIONS 2008 - USA, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES - USA, HEALTH CARE - USA, HISTORY, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, NATO, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, THE UNITED NATIONS, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN | 1 Comment »

ANALYSTS’ FORECASTS RANGE FROM GLOOM TO DOOM – ECONOMISTS FIND FEW OPTIMISTIC SIGNS FOR NEW YEAR

Posted by Gilmour Poincaree on January 2, 2009

December 31, 2008

by Eric Beauchesne – The Ottawa Citizen

PUBLISHED BY ‘THE OTTAWA CITIZEN’ (Canada)

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PUBLISHED BY ‘THE OTTAWA CITIZEN’ (Canada)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA | Leave a Comment »

VIACOM AND TIME WARNER REACH DEAL TO AVOID BLACKOUT

Posted by Gilmour Poincaree on January 2, 2009

Thu Jan 1, 2009 7:38am ET

by Paul Thomasch and Yinka Adegoke – Editing by Peter Cooney – Reuters

PUBLISHED BY ‘REUTERS’

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PUBLISHED BY ‘REUTERS’

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMUNICATION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENTERTAINMENT INDUSTRIES, ENTERTAINMENT INDUSTRY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA | Leave a Comment »

ADD UP THE DAMAGE – DOES ANYONE KNOW WHERE GEORGE W. BUSH IS?

Posted by Gilmour Poincaree on January 2, 2009

December 29, 2008

by Bob Herbert – Op-Ed Columnist – The New York Times

PUBLISHED BY ‘THE NEW YORK TIMES’ (USA)

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PUBLISHED BY ‘THE NEW YORK TIMES’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, CRIMINAL ACTIVITIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL SCAMS, FOREIGN DEBTS, FOREIGN WORK FORCE - LEGAL, FRAUD, HATE MONGERING AND BIGOTRY, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, THE WORK MARKET, TRADE DEFICIT - USA, UNEMPLOYMENT, USA | Leave a Comment »

CASH-STRAPPED STATES LOOK TO SELL ROADS, PARKS – 44 STATES DEALING WITH DEFICITS CONSIDER PRIVATIZATION TO RAISE MONEY

Posted by Gilmour Poincaree on December 29, 2008

5:17 p.m. ET Dec. 27, 2008

Associated Press

PUBLISHED BY ‘THE EXAMINER’ (USA)

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PUBLISHED BY ‘MSNBC’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

POTENTIAL COLLAPSE OF US AUTOMAKERS CAPS TURBULENT YEAR

Posted by Gilmour Poincaree on December 29, 2008

Monday, December 29, 2008

Agence France-Presse

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

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PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, DEPRESSION, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FOREIGN WORK FORCE - LEGAL, FRAUD, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA | Leave a Comment »

TOLEDO’S JOBLESS RATE IS TOPS AMONG OHIO BIG CITIES (USA)

Posted by Gilmour Poincaree on December 27, 2008

Wednesday, December 24, 2008

by Larry P. Vellequette – Blade Business Writer

PUBLISHED BY ‘THE TOLEDO BLADE’ (USA)

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PUBLISHED BY ‘THE TOLEDO BLADE’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION - USA, NATIONAL DEBT - USA, NATIONAL WORK FORCES, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA | Leave a Comment »

CAPITALISM FAILED? OR DID WE FAIL CAPITALISM? (wagging a middle finger at us)

Posted by Gilmour Poincaree on December 27, 2008

Dec. 25, 2008 – 6:21PM

by Loren Steffy – Houston Chronicle

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

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PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

Posted in AL QAEDA, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EMPLOYMENT, ENERGY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE ISRAELI-PALESTINIAN STRUGGLE, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

WISDOM SERIES: EDWARD SONSHINE WOULD SPEED UP INFRASTRUCTURE SPENDING

Posted by Gilmour Poincaree on December 27, 2008

Wednesday, December 24, 2008

Garry Marr – The Financial Post

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

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PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in AGRICULTURE, AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

US DOLLAR LOWER VS EURO IN THIN TRADES

Posted by Gilmour Poincaree on December 27, 2008

11:44:00 12/27/2008

Agence France-Presse

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’ (Philippines)

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PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’ (Philippines)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CURRENCIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EURO, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, NATIONAL DEBT - USA, POUND (Britain), RECESSION, THE EUROPEAN UNION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, UNITED KINGDOM, USA | Leave a Comment »

U.S. WARNING ON SOUTH ASIA TENSION – THE UNITED STATES HAS URGED INDIA AND PAKISTAN TO AVOID UNNECESSARILY RAISING TENSION AMID REPORTS OF TROOP MOVEMENTS TO THE BORDER

Posted by Gilmour Poincaree on December 27, 2008

20:10 GMT, Friday, 26 December 2008

BBC News

PUBLISHED BY ‘BBC NEWS’ (UK)

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PUBLISHED BY ‘BBC NEWS’ (UK)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FOREIGN POLICIES - USA, HOUSING CRISIS - USA, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, NATIONAL DEBT - USA, PAKISTAN, RECESSION, THE ARMS INDUSTRY, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA, WEAPONS | Leave a Comment »

SANTA CLAUS BAILOUT HEARINGS

Posted by Gilmour Poincaree on December 26, 2008

 

 

C-SPAN – Coverage of Santa Claus asking Congress for a financial bailout of the North Pole – Present Giving Industry. If they dont approve his aid package, Christmas may be ruined.

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIAL SUBSIDIES, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA | Leave a Comment »

THE TOAST OF WALL STREET ENDS UP SLICED (USA)

Posted by Gilmour Poincaree on December 26, 2008

4:00AM Saturday Dec 27, 2008

by Yalman Onaran and John Helyar – Bloomberg

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA | Leave a Comment »

FINANCE PIONEER (BRUCE BENT, INVENTOR OF THE MONEY-MARKET MUTUAL FUND) FACES POSSIBLE CHARGES (USA) – ha ha ha ha ha ha ha ha ha ha ha ha ha … aw god … ha ha ha ha ha ha ha ha

Posted by Gilmour Poincaree on December 26, 2008

5:30AM Saturday Dec 27, 2008

by Christopher Condon

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA | Leave a Comment »

IS THE BUSH ADMINISTRATION CRIMINALLY LIABLE FOR ITS LAWLESSNESS? – THE CULPABILITY FOR FLOUTING NATIONAL AND INTERNATIONAL CONVENTIONS AGAINST TORTURE AND SPYING IS SHARED AND IS BEING ADDRESSED BY THE PROPER INSTITUTIONS

Posted by Gilmour Poincaree on December 25, 2008

December 24, 2008

L.A. TIMES – Editorial

PUBLISHED BY ‘THE L.A. TIMES’ (USA)

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PUBLISHED BY ‘THE L.A. TIMES’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES - USA, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

BUSH A CATALYST IN AMERICA’S DECLINING INFLUENCE – THE PRESIDENT OVERSAW A PERIOD OF ERODING ECONOMIC AND POLITICAL POWER, IN WHICH THE RISE OF CHINA, INDIA AND OTHERS WAS A MAJOR FACTOR, BUT ASSISTED BY AN AVERSION TO HIM AND HIS POLICIES

Posted by Gilmour Poincaree on December 25, 2008

December 25, 2008

by Paul Richter

PUBLISHED BY ‘THE L.A. TIMES’ (USA)

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PUBLISHED BY ‘THE L.A. TIMES’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL SCAMS, FOREIGN POLICIES, FRAUD, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, NATIONAL DEBT - USA, RECESSION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

US RECESSION GATHERS PACE

Posted by Gilmour Poincaree on December 25, 2008

Wednesday, December 24, 2008 – 06:13 Mecca time, 03:13 GMT

Agencies

PUBLISHED BY ‘ALJAZEERA’ (Qatar)

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PUBLISHED BY ‘ALJAZEERA’ (Qatar)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA | Leave a Comment »

ECONOMIC HELL, AND THEN WHAT?

Posted by Gilmour Poincaree on December 24, 2008

December 22, 2008 5:02 p.m. PT

by Paul Krugman – Syndicated Columnist

PUBLISHED BY ‘THE SEATTLE POST-INTELLIGENCER’

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PUBLISHED BY ‘THE SEATTLE POST-INTELLIGENCER’

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA | Leave a Comment »

RUSSIAN ANALYST PREDICTS DECLINE AND BREAKUP OF U.S.

Posted by Gilmour Poincaree on November 28, 2008

19:31 – 24/ 11/ 2008

PUBLISHED BY ‘RIA NOVOSTI’ (Russia)

MOSCOW, November 24 (RIA Novosti) – A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts.

Professor Igor Panarin said in an interview with the respected daily Izvestia published on Monday: “The dollar is not secured by anything. The country’s foreign debt has grown like an avalanche, even though in the early 1980s there was no debt. By 1998, when I first made my prediction, it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only collapse.”

The paper said Panarin’s dire predictions for the U.S. economy, initially made at an international conference in Australia 10 years ago at a time when the economy appeared strong, have been given more credence by this year’s events.

When asked when the U.S. economy would collapse, Panarin said: “It is already collapsing. Due to the financial crisis, three of the largest and oldest five banks on Wall Street have already ceased to exist, and two are barely surviving. Their losses are the biggest in history. Now what we will see is a change in the regulatory system on a global financial scale: America will no longer be the world’s financial regulator.”

When asked who would replace the U.S. in regulating world markets, he said: “Two countries could assume this role: China, with its vast reserves, and Russia, which could play the role of a regulator in Eurasia.”

Asked why he expected the U.S. to break up into separate parts, he said: “A whole range of reasons. Firstly, the financial problems in the U.S. will get worse. Millions of citizens there have lost their savings. Prices and unemployment are on the rise. General Motors and Ford are on the verge of collapse, and this means that whole cities will be left without work. Governors are already insistently demanding money from the federal center. Dissatisfaction is growing, and at the moment it is only being held back by the elections and the hope that Obama can work miracles. But by spring, it will be clear that there are no miracles.”

He also cited the “vulnerable political setup”, “lack of unified national laws”, and “divisions among the elite, which have become clear in these crisis conditions.”

He predicted that the U.S. will break up into six parts – the Pacific coast, with its growing Chinese population; the South, with its Hispanics; Texas, where independence movements are on the rise; the Atlantic coast, with its distinct and separate mentality; five of the poorer central states with their large Native American populations; and the northern states, where the influence from Canada is strong.

He even suggested that “we could claim Alaska – it was only granted on lease, after all.”

On the fate of the U.S. dollar, he said: “In 2006 a secret agreement was reached between Canada, Mexico and the U.S. on a common Amero currency as a new monetary unit. This could signal preparations to replace the dollar. The one-hundred dollar bills that have flooded the world could be simply frozen. Under the pretext, let’s say, that terrorists are forging them and they need to be checked.”

When asked how Russia should react to his vision of the future, Panarin said: “Develop the ruble as a regional currency. Create a fully functioning oil exchange, trading in rubles… We must break HA HA HA HA HA HA HA HA HA HA HA HA .... I GUESS THIS FELLA HAS BEEN WATCHING TOO MANY HOLLYWOOD PRODUCTIONSthe strings tying us to the financial Titanic, which in my view will soon sink.”

(*) – Panarin, 60, is a professor at the Diplomatic Academy of the Russian Ministry of Foreign Affairs, and has authored several books on information warfare.

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Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ELECTIONS 2008 - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA | Leave a Comment »

FULL EMPLOYMENT AND INFLATION (USA)

Posted by Gilmour Poincaree on November 28, 2008

4:00 p11…4:00 p11

PUBLISHED BY ‘SHAMCHER BEORSE.WordPress’

From the Appendix to Every Willing Hand’, Shamcher’s book advocating full employment for all which is particularly JOBSrelevant today.

A concluding word about inflation. If full employment were, as so often alleged, bound to generate inflation, amending the Employment Act to give it real teeth might have little point. But two recent developments have brought that gloomy thesis into the most serious question — first, the ample demonstration that inflation now tends to occur even without full employment, and second, the not unrelated shift of informed public opinion into favoring an incomes policy of some kind to help maintain price stability. Thus full employment need no longer carry such burdens as do not, properly speaking, belong to it.

More than that, however, it is here submitted that a program of guaranteed full employment along the lines suggested would not only not feed inflation but actually be the best cure for inflation. This is asserted for two reasons in combination. First, the ceilings on employment and on consumer spending that would be imposed under this approach would choke off upward demand spirals almost entirely. That is the built-in “mechanical” aspect. It would limit “demand pull” directly, as already emphasized, and indirectly it would also moderate the wage-demand side of the “cost push” by holding down the prices that make up the worker’s cost of living. Second, there is the psychological point that cannot BUILDERSbe proved but that should appeal to common sense-a point that would arise from the very fact of the government’s readiness to commit itself in this unprecedented way. An agreement on the part of the government to assure a total market adequate for business prosperity, and to assure continuous full employment for labor, should be enough to persuade business and labor leaders to agree to abide by some reasonable set of price and wage guidelines.

Those who blame inflation on the incurable wickedness of Big Business or Big Labor or both often seem unaware of how far the behavior of both has been caused by the malfunctioning of our economy — its cyclical instability combined with secular weakness — the inevitability of which is precisely what needs to be denied. Once the government stood ready to assure continuously adequate total demand for products and for workers, (1) all businesses would have more chance to spread their overhead costs and hold prices down; (2) management in areas of administered pricing could logically give up planning for extra profits in boom times to cushion losses in future slumps; and (3) union leaders would feel less NO JOBSpressure to demand extreme hourly wage rates on the one hand, or annual pay guarantees on the other, to fortify their members against the return of unemployment.

To put this in context — as these words are being written, the country is deep in President Nixon’s economic Phase II. Whether this experiment with a Wage Board and a Price Commission will, be followed soon by selective permanent legal controls or by some other incomes policy is impossible to say. But what the government commitments proposed in this article would in any case contribute, when it comes to resolving the ultimate hard-core part of the “cost push” phenomenon, is to open the door as wide as possible to achieving essential results by voluntary cooperation.

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Posted in BANKING SYSTEM - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA | Leave a Comment »

MILITARY CONTRACTS OF $5 MILLION OR MORE – U.S. DEPARTMENT OF DEFENSE – Office of the Assistant Secretary of Defense (Public Affairs) – Contract

Posted by Gilmour Poincaree on November 25, 2008

November 24, 2008

FOR RELEASE AT 5 p.m. ET No. 978-08

CONTRACTS

NAVY

United Technologies Corp., Pratt & Whitney, Military Engines, East Hartford, Conn., is being awarded a $98,894,306 modification to a previously awarded cost plus incentive fee contract (N00019-07-C-0098) to exercise an option for the procurement of one Short Take-Off and Vertical Landing (STOVL) propulsion system, one STOVL initial spare module, initial spare parts, and associated sustainment efforts for the U.S. Navy. In addition, this modification provides for special tooling and test equipment and a low rate initial production proposal and planning effort for the U.S. Air Force and the U.S. Navy. Work will be performed in East Hartford, Conn. (70 percent); Bristol, United Kingdom (19 percent); and Indianapolis, Ind. (11 percent) and is expected to be completed in February 2011. Contract funds will not expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Md. is the contracting activity.

Honeywell Technology Solutions, Inc., Jacksonville, Fla., being awarded a $52,328,604 modification (#P00124) to previously awarded cost plus award fee contract (M67004-99-C-0002) to incorporate funds for the exercise of an option for the Maritime Prepositioning Ships Program, the Marine Corps Prepositioning Program-Norway, and other logistics support which includes logistics services that cover maintenance, supply support, inventory management, IT support, preservation, packing and packaging, organic support, and shipping and receiving, both in CONUS and OCONUS. This modification increases the basic value of the contract to a new total of $810,234,260. Work will be performed in Jacksonville, Fla. (75 percent); various locations in Kuwait, Iraq, and Afghanistan (17 percent); aboard 16 MPS ships (7 percent); in six locations in Norway (1 percent); and work is expected to be completed by July 13, 2009. Contract funds will not expire at the end of the current fiscal year. The United States Marine Corps, Blount Island Command, Jacksonville, Fla., is the contracting activity.

BAE Systems Norfolk Ship Repair, Norfolk, Va., is being awarded a $15,977,851 modification to previously awarded contract N00024-05-C-4403 for the USS Nassau (LHA-4) FY09 planned maintenance availability. There are 30+ work items that are repair, replace, preserve, install, clean in nature. In addition, the contractor will perform support services for several alteration installation teams and Norfolk Naval Shipyard work. Work will be performed in Norfolk, Va., and is expected to be completed by February 2009. Contract funds in the amount of $15,905,566 will expire at the end of the current fiscal year. The Mid-Atlantic Regional Maintenance Center, Norfolk, Va., is the contracting activity.

Lockheed Martin Services, Inc., Greenville, S.C., is being awarded an $11,822,675 not-to-exceed modification to a previously awarded indefinite delivery, indefinite quantity contract for Special Structural Inspection Kit (SSIK) Revision 7 inspection/ installation on five P-3 aircraft. Work will be performed in Greenville, S.C., and is expected to be completed in June 2010. Contract funds will not expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Md., is the contracting activity (N00019-05-D-0013).

Raytheon Co., Tucson, Ariz., is being awarded an $11,276,395 modification to previously awarded contract to exercise an option for technical engineering support for the ESSM. Work will be performed in Tucson, Ariz. (45 percent); Camden, Ark. (2 percent); Andover, Mass. (10 percent); Australia (11 percent); Canada (7 percent); Denmark (1 percent); Greece (1 percent); Germany (8 percent); The Netherlands (6 percent); Norway (5 percent); Spain (3 percent); and Turkey (1 percent), and is expected to be completed by November 2010. Contract funds in the amount of $349,968 will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington Navy Yard, D.C., is the contracting activity (N00024-07-C-5432).

AIR FORCE

The Air Force is modifying a firm fixed price and cost plus fixed fee contract with Thales-Raytheon Systems, Fullerton, Calif. for $6,604,990. This contract will provide sector/systems sustainment, engineering support, and materials to support sustainment of the Battle Control System-fixed system, which provides NORAD and PACOM commanders with a viable, interoperable, open architecture air defense and control platform in support of NORAD’s Homeland Defense. At this time, all the money has been obligated. HQ Electronic Systems Center, Hanscom Air Force Base, Mass. is the contracting activity. (FA8722-06-C-001, Modification P00017).

DEFENSE LOGISTICS AGENCY

Foster-Caviness Company, Inc., Colfax, N.C.* is being awarded a maximum $14,100,000 fixed price with economic price adjustment, total set aside contract for fresh fruit and vegetable support. There are no other locations of performance. Using services are Army, Air Force, Marine Corps and USDA School Lunch Participants. This proposal was originally Web solicited with 2 responses. Contract funds will not expire at the end of the current fiscal year. This contract is exercising first option period. The date of performance completion is May 29, 2010. The contracting activity is the Defense Supply Center Philadelphia (DSCP), Philadelphia, Pa. (SPM300-08-D-P002).

Produce Source Partners, Newport News, Va.* is being awarded a maximum $10,350,000 fixed price with economic price adjustment, total set aside contract for fresh fruit and vegetable support. There are no other locations of performance. Using services are Army, Navy and Marine Corps. This proposal was originally Web solicited with 3 responses. Contract funds will not expire at the end of the current fiscal year. This contract is exercising first option period. The date of performance completion is May 29, 2010. The contracting activity is the Defense Supply Center Philadelphia (DSCP), Philadelphia, Pa. (SPM300-08-D-P001).

ARMY

Summa Technology Inc, Huntsville, Ala., was awarded on Nov 21, 2008 a, $39,999,694 five-year firm fixed price contract for a container Roll In/Out Platform. The estimated Five Year total was 3,270. Work will be performed in Cullman, Ala., with an estimated completion date of June 30, 2012. Bids solicited were via the Web and six bids were received. US Army TACOM, Warren, Mich., is the contracting activity (W56HZV-06-D-0269).

Thales-Raytheon Systems Co., LLC, Fullerton, Calif., was awarded on Sept 25, 2008, a modification for $22,316,182.00 with the total of %75,510,390.00 firm fixed price contract for 264 Radar Processors and 47 Radar Processors Spare Kits in support of the Firefinder AN/TPQ-36 Radar Processors replacement program. Work will be performed in Fullerton, Calif., with an estimated completion date of April 30, 2010. This was a sole source contract. Communications-Electronics Command, Fort Monmouth, N.J., is the contracting activity (W15P7T-06-C-M207 P00020).

Rolls-Royce Corporation, Indianapolis, Ind., was awarded on Nov 20, 2008 a, $11,050,725 firm fixed price contract, to analyze, test, repair and overhaul of 117 each T63-A-720 Gas Turbine Engines applicable to the OH-58 Kiowa Helicopters. Work will be performed in Neosho, Mo., and Oakland, Calif., with an estimated completion date of April 30, 2010. One bid was solicited and one bid was received. US Army Aviation and Missile Command, Redstone Arsenal, Ala., is the contracting activity (W58RGZ-09-C-0001).

Mississippi Limestone Corp, Friars Point, Miss., was awarded on Nov 20, 2008 a, $9,802,332 firm fixed price contract for flood control, Mississippi River & Tributaries, Articulated Concrete Matter Castings, Delta, La. Work will be performed in Vidalia, La., with an estimated completion date of Aug. 10, 2009. Bids solicited were via the FedBizOpps and two bids were received. Corp of Engineers, Vicksburg Contracting Office, Vicksburg, Miss., is the contracting activity (W912EE-09-C-0001).

BAE Systems, Information and Electronic Systems Integration Inc., Nashua, NH was awarded on Sept 25, 2008, a fixed price contract for $11,221,000.00 with a not to exceed total of $22,900,000.00 firm for 73 Advanced Threat Infrared Countermeasure/Common Missile Warning Systems A-Kits for the CH-47 aircraft. Work will be performed in Nashua, N.H., with an estimated completion date of July 25, 2009. This was a sole source contract. Communications-Electronics Command, Fort Monmouth, N.J., is the contracting activity (W15P7T-08-C-T213).

T.W. LaQuay Dredging, Inc, Port Lavaca, Texas, was awarded on Nov 20, 2008 a, $10,796,000 firm fixed price contract. Gulf Intercostals Waterways, Texas in Nueces, Kleberg, Kennedy, Willacy, and Cameron Counties, Texas, Corpus Christi Bay to Port Isabel, Pipeline Dredging. Work will be performed in Nueces County, Texas, Kleberg County, Texas, Kennedy, Texas, Willacy County, Texas and Cameron County, Texas, with an estimated completion date of April 30, 2009. Eighteen bids were solicited and two bids were received. US Army Engineer District, Galveston, Texas, is the contracting activity (W912HY-09-C-0005).

*Small Business

On the Web:

http://www.defenselink.mil/contracts/contract.aspx?contractid=3910

Media contact: +1 (703) 697-5131/697-5132

Public contact: http://www.defenselink.mil/faq/comment.html or +1 (703) 428-0711 +1

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PUBLISHED BY ‘U.S. Department of Defense’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS - USA - 2008/2009, FOREIGN POLICIES - USA, HUMAN RIGHTS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INTERNATIONAL RELATIONS, MACROECONOMY, MILITARY CONTRACTS, NATIONAL DEBT - USA, THE ARMS INDUSTRY, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, USA, WARS AND ARMED CONFLICTS | Leave a Comment »

CHINA PASSA JAPÃO COMO MAIOR CREDOR DOS ESTADOS UNIDOS

Posted by Gilmour Poincaree on November 19, 2008

Publicação: 19/11/2008 08:53

FolhaNews

USA AND CHINA TALK MONEY

Em meio a sua pior crise financeira em décadas, os EUA vêem uma troca de guarda na posição de seus principais credores individuais. Segundo o relatório mais recente do governo, de setembro, a China passou o Japão como maior detentor de papéis do Tesouro americano, numa ascendente que começou seis meses atrás.

Agora, a China detém US$ 585 bilhões em “treasuries”, como são chamados os títulos da dívida pública dos EUA, ante US$ 573,2 bilhões do Japão, que mais vendeu do que comprou os papéis em quatro dos últimos seis meses. No total, estrangeiros detêm US$ 2,86 trilhões de títulos do governo americano, ou o dobro do PIB brasileiro.

A notícia é agridoce para os EUA. Por um lado, o país vê reafirmada a confiança dos mercados mundiais e a crença de que o governo terá condições de honrar seus compromissos.

Por outro, vê sair do topo da lista de credores seu principal aliado na Ásia para dar lugar a seu maior competidor comercial mundial. A política de compra dos títulos pela China é agressiva: o país dobrou o valor investido desde julho de 2005.

Brasil em 4°

Já o Brasil continua em quarto lugar, posição que ocupa há mais de um ano. Mas diminuiu sua exposição, passando de US$ 146,2 bilhões em agosto para US$ 141,9 bilhões em setembro. À frente do país, além de China e Japão, estão Reino Unido e dois agrupamentos, de exportadores de petróleo, formado por 15 países, e dos paraísos fiscais do Caribe, formado por seis países.

A diferença entre compra e venda de papéis foi de US$ 66,2 bilhões em setembro, mês em que as Bolsas tiveram grandes perdas -reflexo do estopim da atual fase da crise financeira, detonada pela decisão do governo dos EUA de não socorrer o banco de investimentos Lehman Brothers, que quebrou.

O Tesouro informou ainda que investidores estrangeiros compraram US$ 143,4 bilhões em ativos americanos em setembro, a maior entrada de capital em quase três anos.

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PUBLISHED BY ‘CORREIO BRAZILIENSE’ (DF – Brasil)

Posted in CHINA, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, NATIONAL DEBT - USA, THE FLOW OF INVESTMENTS, USA, YEN (Japan), YUAM RENMIMBI (China) | Leave a Comment »