If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting! Democratic presidential nominee Barack Obama made history by becoming the first ever African American to be nominated for...
Fortune Watch Plant Your Future Prosperity Here
This election is particularly important: the American economy is going through the most serious financial crisis since The Great Depression. And the international scene is littered with the debris of Bush’s disregard for the rule of law, and his confrontational strategies.
What is it that prevents America from righting herself? Stupid, blind, unthinking patriotism — willful idiots yelling “We’re number one!” while ignoring all evidence to the contrary.
That Americas now have shorter lives than Bosnians, that our democracy is only slightly better than the Czech Republic’s, that we have more people in prison per capita than any other country in the world, and that a child born in Slovakia is more likely to survive than in America is pathetic.
With living costs rising at a seemingly constant rate, simple, everyday expenses are getting more and more difficult to accommodate, and many people are finding their budgets getting tighter than ever. While there are...
This insurance comes fortunately or unfortunately comes from the US government, and the government itself is largely in debt. As we’ve seen with the $700 billion dollar bailout, the government is willing to take on more debt.
The threat of a global financial meltdown has diminished thanks to massive central bank and government intervention, which has addressed the liquidity and solvency issues of many US and European banks. However, corporate earnings estimates for 2009 still look too optimistic in light of the poor economic leading indicators that we are seeing, such as consumer and business confidence levels. Therefore, sandwiched between the possibilityof an immediate short-term relief rally and a positive long-term view that equities are currently cheap, we have a near-term view that markets will remain volatile and are likely to trade sideways while the US, Europe and Japan endure a recession.
China’s Premier Wen Jiabao called for more regulation of the world’s financial system, saying after the summit “we need to draw lessons from this crisis.” “We need financial innovation to serve the economy better, however we need even more financial regulation to ensure financial safety.”
For the current fourth quarter, if the Dow drops 1,100 points before 2 p.m., trading stops for an hour. If such a drop happens between 2 p.m. and 2:30 p.m., trading halts for a half hour. After 2:30 p.m., the 1,100-point threshold expires.
There is also a 2,200-point mark. If the Dow falls by that much before 1 p.m., trading stops for two hours. Between 1 p.m. and 2 p.m., a 2,200-drop causes an hour halt. After 2 p.m., trading ends.
The second positive result of the financial crisis revolves around redrafting laws and rules that regulate global financial institutions, especially the International Monetary Fund (IMF), World Bank (WB), and the World Trade Organization (WTO) whose membership could not have been possible without a green light from Wall Street.
The torrent of earnings releases set to hit this week could only exacerbate volatility moves, analysts say. Volatility has knocked around stocks on Wall Street in record ways. Buckle up for the coming week....