Home
Rick Powell's Library tagged → View Popular
The risks of a bust-up in Europe | The bill that could break up Europe | The Economist
Bailing out the same mythical Polish plumbers who just stole everybody’s jobs will be hard for Europe’s leaders to sell on the doorsteps of Berlin, Bradford and Bordeaux, especially with the xenophobic right in full cry. German taxpayers are already worried that others are after their hard-earned cash (see article). The bill will indeed be huge, but in truth western Europe cannot afford not to pay it. The meltdown of any EU country in the region, let alone the break-up of the euro or the single market, would be catastrophic for all of Europe; and on this issue there is little prospect of much help from America, China or elsewhere. It is certainly not too late to rescue the east; but politicians need to start making the case for it now.
The Open-Door Bailout - NYTimes.com
“All you need to do is grant visas to two million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will immediately improve your savings rate — no Indian bank today has more than 2 percent nonperforming loans because not paying your mortgage is considered shameful here. And we will start new companies to create our own jobs and jobs for more Americans.”
Zakaria: The Canadian Solution | Newsweek Voices - Fareed Zakaria | Newsweek.com
Guess which country, alone in the industrialized world, has not faced a single bank failure, calls for bailouts or government intervention in the financial or mortgage sectors. Yup, it's Canada. In 2008, the World Economic Forum ranked Canada's banking system the healthiest in the world. America's ranked 40th, Britain's 44th.
How The World Almost Came To An End At 2PM On September 18
On Thursday (Sept 18), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there.
Obama Stumps for Stimulus in a City Hit Hard by Downturn - NYTimes.com
President Obama took his case for an $800 billion economic recovery package to one of the most distressed places in America on Monday as he opened a series of campaign-style events intended to press Congress to approve the plan by week’s end.
Obama Has Upper Hand in Stimulus Fight
The American public gives President Barack Obama a strong 67% approval rating for the way in which he is handling the government's efforts to pass an economic stimulus bill, while the Democrats and, in particular, the Republicans in Congress receive much lower approval ratings of 48% and 31%, respectively.
HowStuffWorks "How Trickle-down Economics Works"
-
Helping to clinch his eventual victory, Barack Obama declared in a 2008 presidential campaign ad, "The old trickle-down theory has failed us" [source: YouTube]. This statement and Obama's victory resound like a death knell to an economic mentality that some say served to line the pockets of the rich. However, the trickle-down theory to which he refers remains a highly controversial topic. That Obama seeks to end trickle-down policy is certain, but what the theory really suggests and whether it has succeeded have been less clear.
Report: SKorean blogger arrested - Yahoo! News
-
A South Korean blogger pleaded not guilty Saturday to charges that he spread false economic information on the Internet, a news report said, in a case that drew heated debate over freedom of speech.
The blogger, identified only by his surname Park, gained prominence among South Koreans because some of his dire predictions about the global economy, including the collapse of Lehman Brothers, later proved to be correct.
Hit & Run > Big Corn Muscles Aside Solar, Wind and Geothermal Subsidies - Reason Magazine
-
The Environmental Working Group has just issued a report that finds that 75 percent of all renewable fuels tax subsidies in 2007 went to environmentally damaging corn-ethanol production. In addition, the corn ethanol industry, teetering on the edge of collapse despite billions already wasted in subsidies on it, now wants additional billions for a bailout.
Scott Adams Blog: Sign of the End Time 01/06/2009
I guess John Cleese's character in The Day the Earth Stood Still was right: Humanity only changes on the precipice.
-
I wonder what people mean when they say the economy will recover in 2010. The only way that can happen is if another irrational bubble forms thus creating an illusion of wealth similar to our previous illusions. If you take illusions out of the equation, there isn't anything to get "back" to. The wealth was never there in the first place.
I said before that I think we're on the cusp of a change as fundamental as the industrial revolution. But this time the change will be on the consumption side, not the production side. As a society we have dabbled with recycling and such, but it has always been fairly optional. There was no real penalty for waste.
Steven Pearlstein - A Bailout Steeped in Irony - washingtonpost.com
-
Now that another market crash has required the government to rescue a commercial bank done in by its investment banking subsidiary, there will certainly be those who wonder whether the New Dealers didn't have it right all along.
-
The rationale for saving Citi is that with $3 trillion in assets, more than 300,000 employees and operations in more than 100 countries, this was a bank that was too big and too connected with the rest of the financial system to be allowed to fail. The question now is whether an institution of that size and scope is also too big to succeed.
Selected Tags
Related Tags
Sponsored Links
Top Contributors
Groups interested in economics
-
Nuclear Economics
Is the new push for nuclear...
Items: 12 | Visits: 77
Created by: Energy Net
-
Free economics debates
Items: 4 | Visits: 166
Created by: Joel Liu
-
Documentaries: Tyranny and Terrorism
Items: 20 | Visits: 92
Created by: M Diametric
Diigo is about better ways to research, share and collaborate on information. Learn more »
Join Diigo