tag:blogger.com,1999:blog-47650100272238120392011-07-28T21:37:07.537-07:00daily news summaries from the financial pressJobynoreply@blogger.comBlogger111100tag:blogger.com,1999:blog-4765010027223812039.post-89722917568244094392009-03-02T13:23:00.000-08:002009-03-02T13:27:58.079-08:00

The Financial Times produced some shocking numbers this weekend. Japanese exports have collapsed by an astounding 45.7%, the largest such decline since 1957. Stock Markets have collapsed to new lows for this crisis--so low that markets are at their 1997 levels. The budget deficit in the US is expected to reach $1,750 bn, the highest it has been since the Second World War.Japan's stunning '

Asherhttp://www.blogger.com/profile/17658111379654932936noreply@blogger.com2tag:blogger.com,1999:blog-4765010027223812039.post-22248161313464559022008-11-18T08:40:00.000-08:002008-11-18T13:31:25.725-08:00

One of the biggest stories to emerge from the G-20 Summit was the seating arrangement: Lula da Silva of Brazil was on George Bush's right and Hu Jintao of China was on his left. This has repeatedly been said to signal the new international economic order. Immanuel Wallerstein, for example, argues that American political and economic power peaked between 1945 and 1970 and has been declining since

david calnitskyhttp://www.blogger.com/profile/09324730617711388663noreply@blogger.com2tag:blogger.com,1999:blog-4765010027223812039.post-50731395734946470432008-11-12T11:09:00.000-08:002008-11-12T11:10:19.099-08:00

The price of oilOil prices continue to fall amid persistent fears of a sustained global recession. Until last August the price of oil and the price of oil futures (claims on future oil production that can be originated, bought and sold) consistently fluctuated in a counter-cyclical fashion in relation to the values of major stock indices. The fact that oil tended to go up in price when stocks

Asherhttp://www.blogger.com/profile/17658111379654932936noreply@blogger.com0tag:blogger.com,1999:blog-4765010027223812039.post-10290197173248789032008-11-09T07:10:00.000-08:002008-11-10T10:38:17.539-08:00

Among the non-Obama related news is a massive Bank of England cut in the cost of borrowing by 1.5 per cent and the European Central Bank's cut of .5 per cent. The cuts came alongside a gloomy International Monetary Fund report forecasting 2009 to be the first contraction of industrialized countries since WWII. Meanwhile, the Financial Times has continued to report that inflation is set to fall

david calnitskyhttp://www.blogger.com/profile/09324730617711388663noreply@blogger.com0tag:blogger.com,1999:blog-4765010027223812039.post-26301337824003648172008-11-03T10:33:00.000-08:002008-11-03T10:42:43.322-08:00

With tomorrow's election looming and continuing signs of an immanent global recession, the world's leaders are moving forward on their plans to rearrange the worlds financial infrastructure. The meeting of 20 industrialized and developing nations outside of Washington DC on Nov. 15 will be the beginning of a process, known as Bretton Woods II, that will determine the future international finance

Asherhttp://www.blogger.com/profile/17658111379654932936noreply@blogger.com0tag:blogger.com,1999:blog-4765010027223812039.post-65165595079002837272008-10-30T11:54:00.000-07:002008-10-30T11:56:18.550-07:00

Yesterday the United States Federal Reserve lived up to global expectations and cut the Fed Funds rate from 1.5 to 1 per cent. This implies that the Fed has abandoned fears about inflation and will be concentrating, first and foremost, on the threat of recession.On the same day that rates were cut, the Fed has agreed to lend $120 billion to Mexico, Singapore, Brazil and South Korea ($30 billion

Asherhttp://www.blogger.com/profile/17658111379654932936noreply@blogger.com0tag:blogger.com,1999:blog-4765010027223812039.post-20566149712239671542008-10-28T10:39:00.000-07:002008-10-28T10:40:06.783-07:00

The extreme turbulence that has characterized markets in recent weeks shows no signs of subsiding. Yesterday global stock prices fluctuated between huge losses and huge gains until finally settling on losses in most western exchanges by the close of trading (including massive losses in Toronto's TSX, -8%). China's main exchange, in contrast, experienced a gain of nearly 15% by the end of trading.

Asherhttp://www.blogger.com/profile/17658111379654932936noreply@blogger.com2tag:blogger.com,1999:blog-4765010027223812039.post-87076665406303150832008-10-25T09:22:00.000-07:002008-10-25T10:08:06.716-07:00

Recession fears manifested in plunging markets on Friday. Stock markets in Asia, Europe and finally the Dow Jones in the U.S. fell to five year lows. The Wall Street Journal fears there are no safe havens in the global economy left to hedge with. Following Marx, I would argue that market falls and crashes are not destructions of value but rather are redistributions of value. What is destroyed is

david calnitskyhttp://www.blogger.com/profile/09324730617711388663noreply@blogger.com2tag:blogger.com,1999:blog-4765010027223812039.post-90252841476116601582008-10-23T11:32:00.000-07:002008-10-23T11:36:04.948-07:00

The depth and severity of the global crisis has prompted the U.S., with support from its Western European allies France and Britain, to call for a 20 nation summit to discuss the causes of the global crisis and forge a united response. The call for the conference was made amid another day of highly volatile equity (stock market) prices and steep declines for the prices on commodity markets (

Asherhttp://www.blogger.com/profile/17658111379654932936noreply@blogger.com0tag:blogger.com,1999:blog-4765010027223812039.post-41834679586064282462008-10-21T10:23:00.000-07:002008-10-21T10:24:29.623-07:00

Short View: Is it safe to go back in the water?By John AuthersPublished: October 20 2008 20:58 | Last updated: October 20 2008 20:58Credit Default Swaps (from here on CDS, the cost to ensure debt default) on the world's major banks have gotten cheaper. That means that investors believe the likelihood of a major bank collapse has decreased. Sounds like stability. Markets believe things are moving

Jobynoreply@blogger.com0tag:blogger.com,1999:blog-4765010027223812039.post-65042249115782098052008-10-21T10:03:00.000-07:002008-10-21T10:05:27.706-07:00

Bernanke backs new stimulus packageBy Krishna Guha in WashingtonPublished: October 20 2008 20:33 | Last updated: October 21 2008 00:30This seems like pretty good news. A new stimulus package means more spending money for me and people I know. Does this mean that the U.S. Gov. has finally taken to helping out average Joe (six pack or plumber)? I would not jump to that conclusion. Never mind that

Jobynoreply@blogger.com0