Showing posts with label economists. Show all posts
Showing posts with label economists. Show all posts
Friday, February 6, 2009
Evolution: Yay or Nay?
Tell me what you make of these statistics... should the United States be embarrassed by this monkey business?
Friday, October 10, 2008
Closing the World Markets?!
Berlusconi Says Leaders May Close World's Markets (Update1)
By Steve Scherer
Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''
``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''
The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.
Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.
Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''
The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.
To contact the reporter on this story: Steve Scherer in Rome at scherer@bloomberg.net
By Steve Scherer
Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''
``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''
The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.
Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.
Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''
The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.
To contact the reporter on this story: Steve Scherer in Rome at scherer@bloomberg.net
Thursday, October 2, 2008
The Bailout Passed, but Check this Out!
Yes, the new bailout passed in the Senate, and tomorrow it goes to the House for a vote. My uncle brought my attention to this petition ... basically a bunch of the nation's leading economists came together to say that the bailout is a terrible idea: that is, it will disrupt the markets long term, it is unfair to the taxpayers, and it's really shady (they say ambiguous). Essentially what I said before (I think), but this time from experts!
But those in power will do what they want. If they want to go to war against a random country for trillions of dollars and hundreds of thousands of lives, they will. If they want to give $700 billion to their Wall Street friends and co-workers, they will. If those from within commit crimes, the investigations (if any) will be insufficient and false. This is the age-old story of government.
PS: Obama, McCain, and Biden all voted for the bailout ... I think we all know why.
PPS: Palin showed up to vote, but was told she couldn't.
But those in power will do what they want. If they want to go to war against a random country for trillions of dollars and hundreds of thousands of lives, they will. If they want to give $700 billion to their Wall Street friends and co-workers, they will. If those from within commit crimes, the investigations (if any) will be insufficient and false. This is the age-old story of government.
PS: Obama, McCain, and Biden all voted for the bailout ... I think we all know why.
PPS: Palin showed up to vote, but was told she couldn't.
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