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| May 14, 2008 |
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our time will build eternity |
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Japan says China quake to cause economic damage Tokyo (AFP) May 13, 2008 
A Japanese minister on Tuesday expected an economic blow from China's major earthquake, which shut operations of Toyota Motor Corp. and other Japanese companies. "It is unavoidable for the earthquake to have an impact on the Chinese economy," said Hiroko Ota, minister for state for economic and fiscal policy. "It is fully possible that this will affect local operations by Japanese firms, ... read more |
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Walker's World: EU threat to U.K. rescue
Washington, April 28, 2008 In a striking warning of the loss of national sovereignty that comes with EU membership, Britain's $100 billion bailout plan for its banks and mortgage market is threatened with a ban from Brussels. EU competition officials are frowning on the scheme for giving "unfair" preference to British over European banks, and because it may also breach rules against state aid. Legal experts on EU ... more Thompson Files: Rolling back Reagan 
Arlington, VA (UPI) April 24, 2008 Remember the Reagan Revolution? It's over. For 30 years the political system has been dismantling the burden of taxes and regulations imposed on the economy by the New Deal. When U.S. President Ronald Reagan won the White House in 1980, he inherited a tax system that claimed up to 70 percent of taxpayer income and a political culture in which even Republicans were willing to consider ... more Debate on Fed role in Bear Stearns rescue continues to rage 
Washington (AFP) April 23, 2008Weeks after the rescue of US investment giant Bear Stearns, a debate is still raging on whether the Federal Reserve went too far in trying to staunch a credit meltdown. Some money managers say US markets were soothed by the Fed's actions, but other finance experts and lawmakers have voiced concern about what they said was a "bailout" and the risky precedent it has set. Fed chairman Ben ... more China struggling for right way to tame inflation 
Beijing (AFP) April 20, 2008Soaring prices have the power to bring governments down and China is determined to keep inflation in check, but after months of effort, the question remains: How? China has tried price caps on key commodities, tariffs aimed at discouraging exports of others, and a range of other measures aimed at easing the sticker shock felt by the masses. But consumer prices soared 8.0 percent in the ... more US will work with partners to avert future crisis: Paulson 
Washington (AFP) April 11, 2008US Treasury Secretary Henry Paulson warned Friday that the struggling US economy may face rougher times ahead but insisted its fundamental prospects are in good shape. The Treasury chief also said Washington would work with its global partners to take steps aimed at averting future financial crises. "The financial market turmoil and its impact on global growth underscore the need for all ... more |
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Washington (AFP) March 30, 2008Facing another squeeze on a visa program for skilled workers, US business leaders are stepping up efforts to raise the limits, arguing that the nation is running short of the talent it needs to remain competitive. A broad coalition of businesses, especially in the tech sector, are warning that the quota of 65,000 for the so-called H-1B visa program on April 1, is likely to be filled the first ... more Walker's World: Farewell free markets 
Washington (UPI) Mar 24, 2008 The big backlash has come and the era of proudly free markets, privatization and deregulation is over. From all sides, even from former Federal Reserve Board Chairman Alan Greenspan, that disciple of Ayn Rand, comes the cry that more regulation is needed of Wall Street finance. "State and federal regulators, under the oversight of Congress, need to act now -- together -- to create ... more Reducing Carbon Emissions Could Help US Economy
New Haven CT (SPX) Mar 20, 2008A national policy to cut carbon emissions by as much as 40 percent over the next 20 years could still result in increased economic growth, according to an interactive website that reviews 25 of the leading economic models used to predict the economic impacts of reducing emissions. "As Congress prepares to debate new legislation to address the threat of climate change, opponents claim that ... more Klepto-Capitalism Drives Sub Prime Meltdown 
Washington DC (UPI) Mar 06, 2008The bursting of the housing bubble, which punctured the credit bubble, was a criminal enterprise at the outset, pooh-poohed at first by those who should have known better, that has now triggered a global economic crisis. The U.S. prison population is at an all-time high with 2.3 million behind bars, but the subprime con men/women are enjoying the fruits of their scams. Global estimates ... more China Central Bank Says Direct Impact Of US Subprime Crisis Limited
Beijing (AFP) March 6, 2008The direct impact of the US subprime crisis on the Chinese economy has so far been limited, but policy makers should pay attention to possible ripple effects, China's central bank chief said Thursday. "As of now, the crisis has not yet run its course, and it shouldn't be ignored," said Zhou Xiaochuan, governor of the People's Bank of China, speaking on the sidelines of the ongoing annual meeting ... more |
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New Delhi (AFP) Feb 13, 2008India, China and other emerging economies are in the "perfect storm" of global financial risk sparked by the US credit crunch and should mull steps to avoid a sharp downturn, the IMF chief said Wednesday. International Monetary Fund director general Dominique Strauss-Kahn told a meeting of Indian economists that large fast-growing economies like India and China had not "decoupled" from poor ... more Walker's World: A recession election? 
Washington (UPI) Feb 4, 2008 Is this a recession or not? Is the United States about to be plunged into an election campaign dominated by unemployment figures, home foreclosures and demagogic attacks on globalization and the loss of American jobs to low-wage economies? In a sense, it barely matters whether the U.S. plunges into what economists formally call a recession, which is when the gross domestic product turns ... more US, Russia to hold formal economic talks 
Washington (AFP) Jan 31, 2008The United States and Russia announced Thursday they will launch formal talks this year to discuss growing trade and investment links, which include US plans to import Russian nuclear fuel. Washington will host the first meeting in the spring and delegates from both the public and private sector will participate in the new dialogue, according to a joint statement released by the State Depart ... more Can India and China save the world's economy 
Shanghai (AFP) Jan 27, 2008With fears mounting of a global economic slowdown, some analysts predict developing giants China and India, with their booming growth, will help lessen the impact. Stock market turmoil this week triggered by fears of a US recession in the wake of a massive mortgage crisis has ignited debate over whether Asia's two rising economic stars are strong enough to power the world economy. This d ... more Global slowdown could impact China: analysts 
Beijing (AFP) Jan 24, 2008Global economic weakness may be about to do what China's own policy-makers have been unable to: pull growth in the world's fourth-largest economy down from its current dizzying heights. Government data published Thursday showed the Chinese economy grew by 11.4 percent in 2007, the fastest pace in 13 years, but cooled slightly towards the New Year, as the alarm bells over the US economy got l ... more
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