Greece this past weekend saw the worst rioting since the debt crisis began. After Athens had announced new tax hikes and budget cuts to reduce a deficit of 13 percent of gross domestic product, mobs drove guards from Greece’s Tomb of the Unknown Soldier and attacked police. In our own country, students, teachers and administrators […]
Jamie Dimon, chairman of JP Morgan Chase, has warned American investors should be more worried about the risk of default of the state of California than of Greece’s current debt woes. Mr Dimon told investors at the Wall Street bank’s annual meeting that “there could be contagion” if a state the size of California, the […]
Los Angeles, the second-largest US city, is facing a crisis of funding not seen since the darkest days of the Great Depression Two and a half years after the official start of the worst economic downturn and fiscal crisis in nearly 80 years, America’s economy is supposedly growing again, the stock market is halfway recovered […]
Posted by Erick Erickson The Politico has an interesting story about Toyota up. It seems the company does not much care for this administration. Internal Toyota documents derided the Obama administration and Democratic Congress as “activist” and “not industry friendly,” a revelation that comes days before the giant automaker’s top executives testify on Capitol Hill […]
Terry Hoskins said he would do ‘what it takes’ Like many people, Terry Hoskins has had troubles with his bank. But his solution to foreclosure might be unique. Hoskins said he’s been in a struggle with RiverHills Bank over his Clermont County home for nearly a decade, a struggle that was coming to an end […]
By ADAM SCHRECK, AP Business Writer DUBAI, United Arab Emirates – The world’s tallest skyscraper has unexpectedly closed to the public a month after its lavish opening, disappointing tourists headed for the observation deck and casting doubt over plans to welcome its first permanent occupants in the coming weeks. Electrical problems are at least partly […]
by Peter Schiff– With today’s unexpected decline in December payrolls, the cry for more job-related stimulus will grow even louder. But the sad truth is that any new stimulus or jobs bills will ultimately swell the ranks of the unemployed, thereby raising calls for an even bigger federal effort. If we are not careful, government […]
The Wall Street Journal– After months of shrugging off debt problems in Dubai, Greece and other smaller economies, markets yesterday seemed suddenly aware of the risks of sovereign default. Back in November, when the question of Dubai’s solvency came to a head, it was ultimately bailed out by its rich older brother, Abu Dhabi. Now, […]
Ellen Chang– The market could see a huge correction in a few months, says Dan Cook, senior market analyst at IG Markets. Investors are not buoyed by positive earnings reports, he says. “There’s still a lot of confusion in the market. We’re looking at a pretty positive earnings season overall, but as we saw (recently) […]
