Archive for Economic Crisis 2008
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Bailout Or Bankruptcy
Bush’s Parting Bailout?
Perhaps congress wont bail out that automakers. If they don’t, maybe they’ll opt for that pre-negotiated bankruptcy which will allow them to bust the union or get the concession from the union that it wants. The problems with the car makers goes far deeper than the labor unions, regardless of what Fox News wants people to believe.
If congress does nothing, it wont have to face the wrath of the American people whom don’t seem to want any part of this. Seem to be bailouts every where but no one is bailing out you or me. IF congress does nothing the automakers will likely find a way and if they just can’t find a way, then Bush’s administration can step in and do the dirty deed.
Depression or Auto Bailout
Automakers and The Bailout
The automakers showed up in Washington again on Thursday. Some are calling it “Bailout Thursday”. Part of me wants to test GM. GM says it can’t make it to the end of the year without help. That’s not that far away! I think they’ll make it.. I really do hope so.
One congressman, that I saw, asked again, where’s the plan to turn this around. What are you going to do to fix it. How will you start making money? He went on to say that if they showed up at a bank with this type of information, the loan would probably be denied.
American Currency
American Currency Will Fall?
American currency, dollars if you prefer will likely fall in December. The US dollar usually falls in December, at least in an article published by the Wall Street Journal. But these are not normal times and the downward spiral may be stronger than usual.
Who Deserves to Be Bailed Out?
Citibank, Automakers Bailout Are Not About Who Deserves It.
Watching Fox News (no real choice for me) I see the talking heads discussing who deserves a bailout, the white collar workers at Citibank or blue collar workers at GM and other auto makers. The answer is easy, none of them do. It is the people of the US that deserve it. The entire economy deserves it.
Stock Market Rises Due to Obama’s Treasury Pick?
Stock Market Rises On Geithner Pick
On Friday morning, the stock market was again headed downward. Shortly after Timothy Geithner was leaked as Obama’s probable pick for the Secretary of Treasury cabinet post, the stock market made a made a strong rally.
China Announces $580 Billion Stimulus Package
China Announces Economic Stimulus Package
In anticipation of G20 Economic Summit set for Washington next week China has announced a 580 billion dollar economic stimulus package.
About 10 years ago, China led in an effort to stimulate the Asian economy. At that time, China issued bonds to pay for construction of roads, bridges, and other infrastructure and it was considered to be highly successful.
Politics of Fear
Politics of Fear
As you probably know, congressional leadership has been working with the president’s office to devise an “economic bailout plan” needed to prevent a massive meltdown of the US economy. A deal has been reached but many members of congress are not happy.
Even a republican is labeling the deal reached as
