Tag: US economy

October 22, 2008

Banks to Sit on Cash

In the US, bankers are admitting that they will likely sit on most of the cash that they’ve received from their government, mainly because ‘no one is going to lend a nickel until the economy turns’. So, as the media hyped up the ‘crisis’ and my dad nearly had a stroke because of the stress levels it induced, banks are going to sit on the […]

October 19, 2008

Financial Crisis Followup: Blackwater to Help with Evictions

Now that most real estate lies in the hands of the American government, it won’t be long before Blackwater comes knocking on the door of those who are trying to make one last go at holding on to their homes. Eviction notices will be deliverd by one of the world’s largest and fierce mercenary armies, thanks to a lot of funding during the Iraq war, […]

October 19, 2008

Questions Related to Financial 9/11

This article poses a number of questions related to what’s being called the Financial 9/11. At the root of the questions lies a great mistrust of the speed at which things ‘had to be done’.  Were financial markets unravelling because the people behind them were inept or because the regulations had been stripped so raw by free-market fundamentalists or because there was some other deep-seated […]

October 18, 2008

The Solution to Casino-Capitalism?

Ralph Nader has some timely suggestions for reducing or eliminating what he calls ‘casino-capitalism’:  a tax on transactions. Full story here. So what do you think?  Would the powers that be even remotely consider a tax on their own transactions?  No. That would be like asking a Ford to impose a tax on its own engines. I’m sorry if I sound resistant to the idea.  […]

October 11, 2008

Canadian Election: Harper Twists, Turns and Finally Admits Defeat

Stephen Harper and Jim Flaherty were both adamant about the fact that the Canadian government didn’t need to take action in the wake of the financial crisis. They didn’t need to spend money on the automobile industry either. But they did.  In both cases.  At the 11th hour.  Financial story here . Throughout the election, these two characters have repeatedly accused the opposition parties of […]