I thought we were in a crisis!
Just today I read that the commodity prices are rising for instance the prices on oil, copper and nickel have gone up. This makes me wonder, because logicly the prices on especially oil ought to fall. I mean we are in the middel of a financial crisis and the last thing that ought to happen it rising oil prices.
The price on oil influences most commodity prices
We know for sure that most prices go up when the oil becomes more expensive. Stuff such as grocceries; fruit, soap, bread and meat become more expensive to carry around the wold, which makes to prices go up. read more aboute how positive new on the financial situaiton generates a bad financial situation here
Jefferson county in stormy weather
Who would ever have thought that a county could go bankruptcy? When I first heard aboute this, I for one wrinkled my eyebrows. Lately the politicians of Jefferson county got the word of the states highest court, that taxation on bussines and realestate were illegal.
Beat the bottom out of the public budgets
The money that the county now will not be able to collect in taxes are causing big problems. The politicians have been neccessary to make drastic cutbacks for 52 million dollard. The case has been appealed to a national court, but while waiting cutbacks are hitting the weak in society. read more aboute Jefferson county’s financial situation here
New job numbers
Today new numbers got out and it appears that the job situation is not as terrible as first expected – but still – it is no walk in the park either. In May less people lost their jobs than first expected. This development has made the european indexes go up. The German DAX rose more than 1 percent after the news.
The cold facts
Though the unemployment rate rose up to 9,4 percent in May, which is the highest since august 1983, it is nat all bad. Experts has expected that the number of unemployed people would rise to 525.000. But instead only 345.000 people lost their jobs in may. read more aboute the development in unemployment in the US here
The small country in the north
Lately many people have been talking aboute wether they actually are able to feel the financial crisis in their own private economy? For myself, I can answer that question with a no. I am a student and my income is very small and the student job that I have is not very popular. As long as the government do not cut in the State financed student support there will be no worries. ad more aboute prise awareness here
The price of oil
The U.S. WTI oil, is after a few days in plus of $ 52 class rediscovered his rent at $ 50 each. barrel. It happens after a barrel of WTI oil trade in New York this morning was up and cost $ 53.50.
The oil and the stock market
It is, according to Bloomberg News the sour stock market sentiment, which should get the blame for oil’s rebound from the past few days around the level of $ 52.50 per. barrel. read more aboute the jumpy oilprices here
It is lightening in the west. It asseverate at least Geithner, how now sees signs of investigations of financial markets in the U.S.. The announcement from the nation’s finance minister, Timothy Geithner, fell this afternoon at the G20 summit in London. Geithners reports that “there are encouraging signs” on the financial markets, have put a damper on investors’ nerves – and turned a sour mood to positive mines.
The three leading index began with minuses in the wake of concern include poor ratio today’s employment report, which drew mouthssides go down on Wall Street. read more aboute the effect of Geithner’s statement here
Lately there has been a lot of talk aboute wether we are on our way out of the financial crisis. Not only private persons are hoping for the bad times to end also one of the biggest carproducers are GM are hoping that the times will change as well. Lately President Obama gave GM 60 days to improve their financial situation.
What must be done
GM’s director and CEO, Rick Wagoner, has resigned and will be replaced by Fritz Henderson. Kent Kresa become temporary chairman during most of the board replaced before long. GM will have 60 days to implement a restructuring. GM will have financial support to keep the wheels in motion during the period. read more aboute wether it is possible to control the economy here
It’s a matter of confidence
Consumer Confidence in the U.S. rose in February for the second month running as a conservative indication that U.S. consumers are regaining confidence in the future. The final figures for the Michigan consumer confidence index landed at 57.3 in February against 56.8 expected.
U.S. private consumption accounts for approx. 70 per cent. growth and is therefore a crucial factor in relation to a reversal of the economic cycle. The slightly rising consumer confidence reinforces the belief that later this year, a reversal in growth, writes Bloomberg News. read more aboute the growing consumer trust here
By up state bonds
U.S. interest rates fell to the ground by stones as the central bank the Federal Reserve tonight announced that it will buy heavily in state bonds to accelerate the end of the recession that has hit the country.
Is this a good plan?
This makes me wonder if this tactic at all is possible to go through with. I mean, without being educated in the financial sector, this kind of step seems to be a panicing act with great ambitions: Speeding up the recession. read my views on wether it is a good idea to buy up state bonds here
The power to the people
The U.S. taxpayer now owns some 80 per cent of insurance giant AIG. It has cost them 170 billion. dollars. If some feel that perhaps it was a bit expensive, so they are probably not very happy when they hear where the money has gone.
Where did the money go?
Today AIG publiced two things: A list of banks that have lost money paid for – and a bonus payout of 165 million. U.S. dollars to the department which lost money. “These payments are nothing less than a reward for an obvious failure,” said Elijah E. Cummings, a Democrat from the State of Maryland, to The New York Times, and continues. read more aboute AIG’s bad investments here