Ireland may come to regret joining the EU
@ November 13, 2008 # No Comment Yet
For the past decade Ireland has experienced huge economic growth, 7.5% per year, as evidenced by huge jumps in immigration and building. Major American companies, such as Dell, have flocked to the Emerald Isle to take advantage of Ireland’s new found prosperity. Many credited inclusion in the European Union and adoption of the euro for the growth. Unfortunately, that which giveth may very well taketh away. Ireland is in trouble and the EU may be adding to the problems.
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Rate cut won’t help Japan
@ October 27, 2008 # No Comment Yet
Bank of Japan’s current central bank interest rate is .5%, compared to the 1.5% in the United States. Economic and Fiscal Policy Minister Kaoru Yosano has said that cutting the rate in half, to .25%, would have no positive affect on the Japanese economic situation. It is likely that the Bank of Japan will not [...]
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Dr. Doom says the worst is yet to come.
@ October 27, 2008 # No Comment Yet
Nouriel Roubini, a NYU economics professor, has earned the right to tell the world “I told you so.” Roubini, nicknamed “Dr. Doom” by those stupid enough to dismiss his economic predictions, foresaw the current economic situation, including the specific events that have led us here, with chilling accuracy. And he says it’s not over yet.
Roubini [...]
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Australia to make FDIC look like a joke
@ October 12, 2008 # No Comment Yet
For the next three years, Australia will guarantee all deposits in Australia banks, no matter what the size.
This makes the FDIC limits, whether $100,000 or $250,000, look silly. Way to go Kevin Rudd! Can you come help us now?
Maybe we should all move our money to Australian banks?
Reuters 10/12/08
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Shocker: Europeans think American bailout plan is inferior
@ October 11, 2008 # No Comment Yet
The head of the International Monetary Fund (”IMF”), Dominique Strauss-Kahn, thinks we are on the brink of a global financial meltdown as prices crashed more than 20 percent last week and steps taken so far have not stabilized the markets. The IMF also prediced that shares could fall another 20 percent in the next few [...]
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Stock market ends “worst week ever”
@ October 10, 2008 # No Comment Yet
Today the stock market ended its “worst week ever” with the Dow losing a modest 128 points, for an 8 day total loss of about 2,400. Both the Dow and the S&P suffered their worst weeks in point and percentages losses. Finance ministers and central bankers from the Group of Seven nations met with Bush [...]
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