NEWS BRIEF! Ben Bernanke will tell the world that the USA needs another stimulus. Japan has had “Deflation” for over twenty years. Prices are steadily dropping in Japan as that country struggles with a recession that will not go away. Japan owes trillions of Yen to its own public and consequently will not default. But, [...]
“Ambivalence” is a condition that is uniquely human. Wanting two conflicting goals and unable to act decisively is common amongst humans, both young and old; and especially, amongst groups. We see this quandary whenever people are asked to vote for leaders who promise to take them in a specific direction. We are seeing it today [...]
Soros: EU Breakup Would be Devastating to Global Economy From Reuters A collapse of the euro and break-up of the European Union would have catastrophic consequences for the global financial system, billionaire investor George Soros was quoted as saying. “Today, the euro is potentially endangering the political cohesion of the European Union,” the Business Line [...]
DEBT VERSUS GDP World’s Biggest Economies Face $7.6T Debt By Keith Jenkins and Anchalee Worrachate, from Bloomberg Governments of the world’s leading economies have more than $7.6 trillion of debt maturing this year, with most facing a rise in borrowing costs. Led by Japan’s $3 trillion and the U.S.’s $2.8 trillion, the amount coming due [...]
U.S. Trade Gap Probably Widened in August By Bob Willis, from Bloomberg The U.S. trade deficit probably increased in August as a cooling in the global economy prompted American companies to ship fewer goods abroad, economists said before a report today. The gap widened 2.2 percent to $45.8 billion, according to the median of 81 [...]
Europe Bank Rescue May Cost $2 Trillion: Fink By Matt Walcoff, from Bloomberg Governments and private-sector partners may have to spend as much as $2 trillion to rescue Europe’s banks, said Laurence D. Fink, the chairman and chief executive officer of BlackRock Inc. (BLK) “Stabilizing Europe is very costly,” Fink, who heads the world’s largest [...]
From CNNMoney In another sign of the tough financial conditions in Europe, Moody’s on Tuesday cut Italy’s credit rating by three notches and assigned it a “negative outlook.” While that’s a notable drop, the new rating — A2 — is still comparatively high and Moody’s noted that “the risk of default by Italy remains remote.“ [...]
Obama’s Euro-Crisis Lecture Is ‘Pitiful and Sad’ By Kristen Allen and David Gordon Smith, from Reuters Obama slammed the Europeans at an event in Mountain View, California on Monday. US President Obama has given the Europeans a harsh lecture on the dangers of their ongoing debt crisis. Offended by the unsolicited advice, Europeans have suggested [...]
