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Bailout: Banks win, we lose
The idea of the bank bail-out plan was to encourage banks to begin lending again to borrowers to get credit rolling. As the bail-out money is actually tax-money coming from you and me, we would expect the banks to have already begun lending to us…Think again. At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney
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The end of financial booms and busts?
Financial boom and bust cycles are increasing in frequency and the time between the booms and the busts are shrinking. First the dot-come bubble grew and burst and now the sub-prime saga. The way to restrain these bursts is to prevent the bubbles from occurring in the first place and stabilizing financial
How will Obama deal with Russian President’s threats, calls for talks?
After Obama’s election victory on November 4, Russian President Medvedev showed strong opposition to the U.S. planned missile defense system and threatened to move short-range missiles on the borders of NATO nations in retaliation to the missile system, which Russian claims is a Cold War style
Don’t forget Afghanistan
Civilian deaths have doubled over the last two years in Afghanistan. The British tried to succeed in Afghanistan but failed in 1947. The Soviet Union tried to conquer the Mujahadeen ‘freedom fighters’ and failed. But President-elect Barak Obama intends to make sure the US doesn’t follow the same
As economy sinks, gov’t dramatically increases spending
“The economic crisis will not stop President-elect Barack Obama from expanding health care, overhauling education and energy policy, and passing a middle-class tax cut soon after he takes office in January, senior aides said on Sunday….” Read the Reuters
Guns sales soar after Obama’s victory
Many McCain supporters were crying “run for the hills!” after Obama claimed victory in the presidential elections, fearing for the future of the US. This usually should be taken for a hyperbole. But actions are following words as gun sales by Americans have suddenly spiked. Apparently they
Business as usual for Obama?
President-Elect Barack Obama and Vice President-Elect Joe Biden are wasting no time assembling an economic team to face the financial crisis. They are also wasting no time in following the usually order of politics; snuggling up nice and close to heads of big business. Barak Obama and Joe Biden have