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The U.S. is exporting unemployment with ‘Buy America’
Everyone should be concerned about the increasing tone of trade friction in the global economy. While Chinese Premier Wen and U.K. Prime Minister Gordon Brown are setting a positive tone in London today regarding bilateral trade…
Chinese migrants losing jobs three times faster than reported
A survey in China has determined that job losses amongst migrant workers are three times worse than had been reported. In fact, 20 million workers in China have already lost employment.
MagnetBank failure as a canary in the coalmine
In 2008, the FDIC successfully shut down 25 banks. This year it has already been six. To date, the FDIC had generally been able to find a buyer of one of the failed banks' deposits. After all, outside of IndyMac, the large majority of…
‘Buy American’ will translate into a 21st century Smoot-Hawley
Politicians in Washington D.c. have cooked up a nice way to re-create the mistakes of the Great Depression by attaching a 'Buy American' provision onto the stimulus bill making its way through Congress. Apparently the Canadians and…
TurboTax: targetting ads to Obama’s team problems
This is pretty funny actually (Hat tip Michael Turk).
Links: 2009-01-31
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The Most Popular Twitter Acronyms - Digital Inspiration
Wall Street suffers worst January - BBC News…
Job cuts represent structural job losses
Evidence that companies think that much of the downdraft in the economy represents a structural shift to a lower revenue base instead of a cyclical shift comes from the enormous goodwill writedowns companies are taking. Case and point is…
GDP: imports, inflation and local government are the story
I have been out the entire morning and haven't been able to read any news reports on the GDP numbers. However, I have just now had a chance to look at the data and wanted to share my thoughts with you, unfiltered by the media reports. I…
Wall Street Journal: Right Forecast by Schiff, Wrong Plan?
Wading into the controversy surrounding Peter Schiff's investment under-performance, the Wall Street Journal has released an article which calls into question the fundamental arguments for Schiff's investment strategy. Schiff, a fund…
Nationwide: U.K. house prices down 16.6%
The monthly Nationwide Building Society survey is out for house prices in the U.K. The data show an annual fall that is the steepest on record at 16.6%. This means that house prices are now falling more rapidly than ever in the U.K. and…