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Originally posted by MrDarlingFace
The only problem is that when everyone is really pessimistic like they are now, bad things usually don't happen. Like ever.
Goldman is the only stand-alone investment bank in the United States. If you want one-on-one investment advice from someone who does nothing else, Goldman Sachs is your only choice. JPMorgan Chase, meanwhile, is the only “strong” and “healthy” bank in the U.S. If you want a safe place to store you money, and you don’t want the restrictions of a local or regional bank, JPMorgan Chase is the best option available.
Unfortunately, this is not a good thing for the American economy. Usually there is nothing wrong with banks making money, and there is no reason to begrudge them making money if they are actually making it through the business of banking.
But in America the banks aren’t banking. They aren’t lending. They never used the hundreds of billions of dollars in bailout money to help their customers. They hoarded the cash and used it on profitable investment gambles and speculation. If the banks were acting like banks, using their cash as a means of greasing the skids and driving the economy, this would be great for the economy.
Officially, Detroit's unemployment rate is just under 30 percent. But the city's mayor and local leaders are suggesting a far more disturbing figure -- the actual jobless rate, they say, is closer to 50 percent.
The Chamber is aiming for passage of Bush era free trade agreements with the nations of Columbia, Panama and South Korea. All three have been tied up in Congress since the president took office. And while he has publicly expressed support for the trade pacts, he and his administration have done little to secure their passage.
Using past trade agreements as a model, an Economic Policy Institute study projects that trade agreements with South Korea and Columbia would be very costly to the American economy. According to the study, the nation would lose 214,000 jobs by 2015, mostly well-paying manufacturing jobs. The trade deficit would rise by $16.8 billion, the study projects.
Another recent report by the U.S. Public Interest Research Group Education Fund found that the U.S. Treasury Department loses approximately $100 billion each and every year due to American businesses utilizing tax havens. A good portion of that money likely winds up in Panama, where 350,000 foreign subsidiaries are located in the country to take advantage of the nation’s lax tax laws.
Spain has scraped out of recession after six quarters of economic shrinkage, becoming the last major world economy to return to growth after the global financial crisis, the central bank said on Friday.
Originally posted by Vitchilo
Spain has scraped out of recession after six quarters of economic shrinkage, becoming the last major world economy to return to growth after the global financial crisis, the central bank said on Friday.
Originally posted by andy1033
Amazing how fixed it all is.
2nd line.
Originally posted by Cabaret Voltaire
The way I see it, we must hit rock bottom in 6 weeks.
There will have to be something extraordinary in the works to make this happen.
Remember the summer solstice is the exit, so somebody or something will have to be leaving. And there ain't much time left.
European soviets break up?
Obama quits and goes back to Kenya to start a Dairy Queen franchise?
Only the shadow knows.....
Originally posted by MrDarlingFace
Originally posted by andy1033
Amazing how fixed it all is.
2nd line.
Fixed by who? The banks? Hedge Funds? Is that why so many of them closed down or failed or needed to be bailed out due to all their losses?