Attacking the Economy

During our economic downturn, it’s hard for small businesses to get a lead on things ... during this time of need in the U.S. While Canada’s economy isn’t as bad off as the U.S.’s, Canada ... from going under. Sometimes that means getting more credit and getting another loan. Other times, it means [more...]

Date: 2008-12-31 02:50:14

Blog posts (293) | Videos (27)
 

Olga Riley on "One God or Three?"

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Date: 2008-12-07 20:50:57

How Bad Is The Economic Crisis And When Will It End?

In 2008 the world’s financial markets experienced their worst crisis since the Great Depression of the 1930’s !! ... , Canada, Japan, and all the other supposedly advanced economies. Although the present crisis ... ’s credit excesses in residential mortgages, commercial mortgages, credit cards, auto loans [more...]

Date: 2009-01-06 00:00:32

Is Canada in a Recession?

I know this has nothing to do with travel, but I really have to ask this question: Is Canada in a Recession? Has your daily life changed?  Has your bank called your loan?  Is your credit gone?  Have you lost your house? Yes ... and we are selling it everyday. Is it really as bad as they are saying it is?  There has been a downturn [more...]

Date: 2008-11-27 18:50:03

More Financial Bubbles Ahead?

Bob Chapman The International Forecaster September 14, 2009 Almost all important, pertinent data reflects continued weakness in the economy, especially retail sales and unemployment. There are small signs of inflation in spite of bogus government figures. In the flight to quality we see stronger gold, silver and commodities despite heavy market manipulation by the government. Bernanke will soon be forced to choose between saving the dollar and bonds or stocks. [more...]

Date: 2009-09-14 12:39:08

The Economy is a Lie, too

Dr. Roberts is a former assistant Secretary of the Treasury, so he knows whereof he speaks on economics issues. And, for the record, he was equally scathing of economic policy under Bush II’s regime. Flashback: US credit shrinks at Great Depression rate prompting fears of double-dip recession | Nassim Taleb on the economy: ‘We still have the same disease’ | Flaherty sees deficit, debt, and timetable to return to surplus all expanding | Investors dump money market funds | Scotiabank: [more...]

Date: 2009-09-22 12:19:52

August 30 2009: Tickle your fancy

Esther Bubley War Worker January 1943 War workers at home, Washington, D.C. "A radio is company for this girl in her boardinghouse room" Ilargi: It's often as amusing as it is surprising to me how readers react when I quote people who are perceived as being right-wing. My view is quite rudimentary: I’m not interested in the dividing lines in politics, but since I think a society needs to take care of its weakest, simply to survive, the only wing I seem to have is a left one. [more...]

Date: 2009-08-31 00:03:00

Wasting away

Not a day goes by here without new arguments why interest rates won’t rise. They go like this: The weather’s been good since last winter ended. People are enjoying it. They play and prosper in the sun. If the snows come it will be bad. We are not ready. We will suffer. Therefore the government will not allow it to be so. Other variations, too. Like pointing to Japan where rates have stayed low for two decades. Or claiming central banks will print money, buy all the bonds, and keep rates low. [more...]

Date: 2009-09-29 01:48:24

Kenya finally feels Global Credit Crunch

Can you believe that the contraction of the long-term credit is already in the dictionary? Often defined as "a serious lack of money or credit," to deceive those that are looking to Kenyans, Africans have not experienced so-called crisis of the years, even decades. So the West is to take his medicine, finally, and over time. The beginning of this was found on 9 August 2007. The French investment bank BNP Paribas caused tremors throughout the world causing a sharp rise in borrowing costs. [more...]

Date: 2009-09-16 17:34:30

Inflation is on Its Way

The public option for Obama insurance coverage has been described as just a sliver of the overall proposal. Universal coverage directly by government was not an essential element says Health & Human Services. Of course it was. The program is in retreat and the only way the Democrats can get passage of any kind is to re-craft a toothless passage and ram it through in a party line vote. The public is enraged at what the liberals and socialists have tried to foist on them. [more...]

Date: 2009-09-02 17:36:13

How to Transfer Money to Canada

Every year, almost 40% of Canadian residents send money to other countries all over the globe. A sizable portion of this money goes to family members in Haiti and the Philippines. But did you know that there are also plenty of people who reside in other countries who transfer money to Canada, as well? It’s not something you hear about much. To be honest, a great many people assume that since Canada is a fairly wealthy, developed nation, its residents have little need of remittance. [more...]

Date: 2009-09-10 05:50:06

Mortgage Refinancing Vancouver Gives The Perfect Inexpensive Home Loans To Their Clients.

The mortgage companies have placed such a great control on citizens that each and every common man feels the push to go towards them when they desire financial help either to buy a house, a factory or any profitable or residential property. These days buying a house or any other main or small property has turn out to be an extremely simple technique because of the easy Inexpensive Home Loans and their Fixed Mortgage Rates. Their Home Loans events are systematic, exact and therefore easy. [more...]

Date: 2009-09-10 11:21:53

Mortgage Rates Made Easy.

by Jim Scott There are various methods where one can achieve anything and everything. My friends son at a very tender age is very insistent and wants to own all that his father has. He has great plans and dreams and wants to fulfill them in a beneficial way. Well, there are hundreds of youngsters these days who want to lead a comfortable life and settle in a luxurious way. My friends son is only 20 years old. He believes in earn and learn procedures. He is learning as well as earning. [more...]

Date: 2009-09-05 21:12:38

In The News Today

Dear CIGAs, You know a little payback feels good. The following video might make you feel good when you watch it. Please do. Jim Sinclair’s Commentary You want to sell some minerals? Got extra crude? Just Call 1-800-CHINA-AU. Jim Sinclair’s Commentary You are in Africa and China or you are nowhere for minerals. You think some very large legal and illegal shorts are nearing a lasting spiritual experience by being indiscriminately short junior resource companies? I do. [more...]

Date: 2009-09-02 22:39:00

G20 nations meet as protests flare on issue of international banking regulation

Again, the summit is being presented as a way to get the bankers, when it is in fact a further centralization of banking power. The picture below tells you much of what you need to know about the G20. And for new readers, it’s not that banks are inherently bad. But at the international level, economies are being governed now by a syndicate of privately held central banks that operate above the law and print money with which to acquire real equity. [more...]

Date: 2009-09-24 22:35:28

Texas Rally: "We Hate the United States"

A new essay by Joint Chiefs of Staff chairman Adm. Michael Mullen offers a “searing critique of government efforts at ‘strategic communication’ with the Muslim world,” saying that the U.S. needs to focus more on its actions. “Each time we fail to live up to our values or don’t follow up on a promise,” writes Mullen, “we look more and more like the arrogant Americans the enemy claims we are.” - ThinkProgress U.S. [more...]

Date: 2009-08-31 09:46:00

Sanity Check

I received this via email on 09/15/2009 from a friend of mine. Check your sanity. “Insanity: doing the same thing over and over again and expecting different results.” ~~Albert Einstein/Ben Franklin (Actual origin is not verifiable) In 1913 the duopoly Republicrats and Democans promised that only the rich would pay the income tax. They lied! In 1935 They said that there would be a Social Security Trust Fund that you could count on in old age. They Lied! There is no trust fund. [more...]

Date: 2009-09-15 22:25:29

More Financial Bubbles Ahead?

After more then two years of government and Fed intervention in the economy, only banks, Wall Street and insurance companies have been bailed out. The first part of the Stimulus package was unsuccessful, because the funds were not spent, they were used to eliminate debt. We do not think the next stimulus wave will be any more successful. The economy should now move sideways for a year with slight GDP gains and a slowing in job losses. [more...]

Date: 2009-09-17 16:45:11

Bigger Safer Banks May Be The Way To Go

The blogosphere has been preoccupied this weekend by the WaPo article about the big banks getting bigger in the wake of the financial crisis. The predominant sentiment seems to be that this is a bad thing. All of the talk reminded me of a post that John Hempton who writes the excellent Bronte Capital blog put up about six months ago.In that post, John pointed out that Australia has only four banks and that those banks make an unconscionable amount of money because they have no competition. [more...]

Date: 2009-08-30 17:57:11

Students: Banks’ new Markets

For those of you who are unaware, Banks try to capitalize on attracting new (and young) customers on campus these days (most Universities have entire bank branches on campus).  They are quite aggresive in their marketing to these new potential clients, enticing them with iPods and other “perks” to open new accounts. When I was at University the on campus bank knew that a great many of the students were in Co-op, and thus excellent new victims for their bank service fees. [more...]

Date: 2009-09-10 06:46:02

September 15 2009: Trumbull County Complaints

Esther Bubley Where’s the candy? July 1943 Spectators at the parade to recruit civilian defense volunteers, Washington, D.C. Ilargi: I don’t want to listen to those speeches anymore, I don’t want to hear Geithner say that it's "unfortunate" (as in: but necessary) that the man in the street has to pay for banks' losses. Most of all I don't want to hear Obama state that the salaries of bank executives should not be regulated because those of NFL players are not. [more...]

Date: 2009-09-15 16:01:00

Liveblogging David Cay Johnston on WXXI

This is rough, I’ll try to clean up later. But DCJ’s suggestion on the next step is to call Congress and say “We want options ... .  People still have to pay mortgage, even if gov’t is now holding loan. Bill appears to have caps on exec ... me out for my bad decisions today. BS: what about ways comps get around salary? DCJ: they are very [more...]

Date: 2008-09-30 17:44:32

Weekly Economic Potpourri November 29, 2008

Every week there are a numerous headlines that are worthy of mentioning but I simply run out of time. Here are a few headline news reports of interest from the past week.Japan’s Factory Output Falls as Turmoil Hurts ExportsJapanese manufacturers reduced production in October and plan further cutbacks as a worsening global financial crisis weakens [more...]

Date: 2008-11-29 18:46:00

My Unforgettable Jaunt to ‘Eh-land’ Or How I Learned How to Stop Worrying and Love Canada

Ontario turned out to be a very friendly place to sell and sign books although getting there was an ordeal comparable to Rick’s first night on Malta ... Maltese television show and the Consulate General of Canada while I was in town. I wasted no time ... , who is a used car dealer in a small town in southern Minnesota offered to loan me an Olds Achieva, [more...]

Date: 2008-12-18 17:18:07

Above all that

Alaska, somewhere north of the fortieth parallel …. Guilty as charged. Alaskan Senator, Ted Stevens recently convicted on all seven counts by a jury in Alaska, vowed to “fight this with every ounce of energy I have.”  Which is kind of ironic, as it was his close personal relationship with an ENERGY CEO that got him in all this hot water to begin [more...]

Date: 2008-11-01 09:08:50

An Anti-Masterpiece Of Timing In California

The Mercury News reports from California. “John Gronley bought his dream home nine years ago for $625,000. Its paper value peaked at $1 ... through people such as a former loan agent at a small San Leandro brokerage.” “‘We called them ‘ ... who could never afford a loan on a $400,000 house. At least once a month we’d all look at each other [more...]

Date: 2008-10-04 17:43:14

Do New Year Resolutions Work? Parents? Kids? Teens?

There’s nothing more silly to me than reading TEEN resolutions that ADULTS have written…I mean, c’mon, folks, let’s resolve to get real, shall we? ... for raising teens (see Anthony Wolf’s hilarious article in Canada’s Globe and Mail and GeekDads gaming ... to the mall?” (at left) a parenthood rite of passage. (Flickr credit: Jill Doughtie) Some of my [more...]

Date: 2009-01-09 09:33:21

The Challenge Is Prices Got Stupid

The Daily Astorian reports from Oregon. “An increasing number of homeowners in Clatsop County are falling behind on their mortgage payments and ... Joe Schulte, VP of Compass Community Bank in Seaside, said subprime loan programs were available ... as the loan criteria change each day. ‘Loan officers have to be ahead of the curve,’ he said. ‘There’ [more...]

Date: 2008-10-07 17:26:52

More money won't save failing auto firms

Here is my column from The Vancouver Sun arguing against subsidies for auto companies that haven't been able to adapt to changing markets on their own. It's a subsidy, not a loan Big three auto makers turn to governments as banks shun them ... . GM's world headquarters is Detroit is seen in the background. CREDIT: Reuters; Vancouver Sun [more...]

Date: 2008-11-20 17:12:00

Pants ‘o Fire

Tomorrow in Parliament the finance minister will deliver an economic statement and begin a process of trying to save the nation from financial ... and said this is about as bad as it gets. The OECD (and every economist) says we’re in recession ... away in financial losses. * Credit is going to be a lot harder to find. Banks on both sides [more...]

Date: 2008-11-26 15:15:33

Debt Rattle, November 23 2008: How can I convey to you?

National Photo Co. Happiness 1919 A child holding the Thanksgiving turkey. Ilargi: It may seem sort of hard to decide which idea is sillier. But then again, that's not really fair. The nonsense oozing from Bush and Canadian PM Harper in Peru about how free trade will solve all our problems within the next 18 months goes way beyond silly [more...]

Date: 2008-11-23 20:47:32

Barney Frank Lecturing On Morality - A sin Itself!

Consumer spending represent 2/3rds of our economic activity. We are a consuming not a producing nation as such.. Consumer net worth largely consists of homes and investments and both are declining in value and we still have a full overhead supply of unsold homes with more coming on the market from foreclosures. Roubini is right. (See 1 below.) [more...]

Date: 2008-11-20 13:32:00

Prisoners In Our Own Homes

The Globe & Mail reports from Canada. “For the throngs wandering through open houses this weekend, it may feel as though they fell through the looking glass while they were peering into closets. The downturn seems like a bad dream. Housing prices have rebounded, formerly gun-shy buyers are back on the market, and bidding wars abound. [more...]

Date: 2009-09-27 17:34:07

One Story to Embody 2008, Two Ratios Show Room to Fall for Stocks, Death of the Euro, and More!

by Addison Wiggin & Ian Mathias A fitting end to 2008… an easy money crisis “fixed” with more easy money Equity bottom still out of reach… ... , maybe credit shouldn’t be so easy!” Today, they’re back. Never mind that GMAC is borrowing money ... t have to worry about making bad loans until they’re at least 30 days past due. If there’s any [more...]

Date: 2008-12-31 20:05:01

Gates of Vienna News Feed 11/12/2008

Some headlines to look at:“Muslim Killed Catholic Girl in Love With Flatmate”“London Fundraisers Linked to Stoning of 13-Year-Old”“Possibly Tens of Thousands of Somalis in the US Illegally”“New Anti-Christian Attack in Mosul, Two Sisters Killed”But then there’s this:“Denmark: Ready to Ban Headscarves for Judges”So it’s not all bad news.Thanks [more...]

Date: 2008-11-13 04:52:00

52nd Bankruptcy & Debt Carnival- Now Online!

Monday, August 31, 2009debt kid presents Depression and Debt a Dangerous Combination posted at DebtKid.Jack Schmidt presents Bending Time in the World of Finance posted at SectorMatic Money Journal, saying, “SectorMatic Money Site – Personal Finance | Everything for the Big Spender on a Budget! Now you can live like a fat cat, even if you’re on a money diet. Laugh all the way to the bank with Jack Schmidt and SectorMatic. [more...]

Date: 2009-08-31 19:40:21

College Loan Slavery: Student Debt Is Getting Way Out of Hand

I have seen this first hand. No one holds a gun to these people's heads. They don't understand sacraficing now to have more later ... debt. And don't get me started on all the credit card kiosks around campuses. Only fools get those ... out probably a hundred resumes from L.A. to Canada, but I haven't had a single response. Experienced people [more...]

Date: 2008-11-12 13:25:34

Let the games begin!

US President George W. Bush has finally done what really needed to be done - he has approved a partial emergency loan program for the US auto industry, amounting to some $17.4 billion US in loan guarantees to General Motors and Chrysler. At the moment Ford says it doesn't need such assistance, but it has asked for a line of credit in case [more...]

Date: 2008-12-21 16:25:15

Vacation, Investing, Debt and Some Tips for Life

We’re in vacation mode… busy packing and ready to hit the road bright and early. Usually we fly, but this time we’re driving… we’ll see how 8 hours in the car goes with a 9 month old and 2 year old. Wish us luck - we might need it! Once we get to our destination we’ll be on a houseboat… hopefully without access to the Internet! [more...]

Date: 2008-07-09 14:06:19

Rates cut, markets fearful

CENTRAL banks around the world cut interest rates in unison on Wednesday but the unprecedented move failed to help battered stocks, thaw credit markets or temper forecasts for a sharp global economic downturn. US stocks closed ... said negotiations to secure a 4 billion euro (S$8 billion) loan from Russia would begin next Tuesday [more...]

Date: 2008-10-09 05:01:25

Rated “E”

This post is rated “E” for entertaining.  No, educational, uh, erratic.  THIS POST IS FOR EVERYONE … Whew?  Sure glad we got that out of the way. Oh well, it is Tuesday, and as with all Tuesday’s I have my problems.  Much like a child in grammar school, I am never prepared for the lesson on Tuesday, I am geared up for recess instead [more...]

Date: 2008-10-21 09:31:14

3 Ways to Transfer Money to Europe – Which One is the Best?

There are multiple ways to transfer money to Europe, each with their own advantages and disadvantages. Which one is best for you? That depends on several different factors, such whether you and the money’s recipient(s) have access to your own bank accounts; whether or not there is a facility in the country (or for that matter in a local location); and how significant a transfer may be for the intended recipient(s) of the money. 1. Bank wire transfer. [more...]

Date: 2009-09-10 05:50:04

The World & Christmas: Part Two

Yesterday I commented on a book review that noted the chaos that is Africa and today’s post concerns the chaos that is Detroit ... (and who has been more profligate than they) in order to secure a bridge loan to withstand an economy wrecked ... in the country), to being Dysfunction Junction. To Detroit's credit, they've earned it. “Before arriving [more...]

Date: 2008-12-21 14:24:00

Day off:

Thursday was a dud of a market day. (NT) like I called last week, finally fell down to $0.25/share and apparently hit $0.24 ... !, but somebody got a really bad buy price. This stock ended down on the after hours . It will probably ... to believe. If supply is cut and still there are not any buyers, its bad. There was also rumors [more...]

Date: 2008-12-19 05:51:20

FHA chatter; News from MERS, Wells, Flagstar; Home price index not as bad as feared

  As my grandfather used to say, “If you find yourself in a hole, the first thing to do is stop digging.”* Apparently the folks at Sunwest Bank , out of Tustin, CA, felt the same way. Clients received a letter saying, “I regret to inform you that as of October 2, 2009, Sunwest Bank will be suspending its mortgage banking operations. [more...]

Date: 2009-09-29 19:04:07

DrumBeat: October 11, 2008

GPS could save airlines billions in fuel costs CHICAGO - A World War II-era air traffic network that often forces planes to take longer, ... expensive — still makes sense because the cost of driving is almost as bad and driving takes longer ... crisis is not just some kind of bad dream, but the new reality. With globalization, it is clear [more...]

Date: 2008-10-11 13:14:59

Alaska News Nightly: October 22, 2008

Aleutian waters may have claimed 11 lives and a 92-foot fishing vessel overnight. Search teams have found debris and a body, but no survivors so far ... The sub-prime loan crisis has made it to Alaska. The Alaska Housing Finance Corporation (AHFC) says it unwittingly bought bad loans earlier this year and it’s cracking down on lenders that don’ [more...]

Date: 2008-10-23 01:55:34

Fiscal Therapy

Getting the economy back on its feet, giving taxpayers a break, saving your retirement fund and your kid's college tuition? Done. And it won't cost you a penny.David Cay JohnstonFor years now, whenever I've been invited to lecture students on how our tax system works, I have asked a simple question: [more...]

Date: 2009-01-12 09:26:00

A week of interesting events…

Tuesday was fairly eventful, I left my apartment by 6 am to meet Beatrice at the Mbengwi moto park on the other side of town ... , who is the General Center Chief for the area is phenomenal. He gave some of his last loan to his son ... his son and spent the rest of his loan on a motorbike to use as a taxi. He is making enough profits [more...]

Date: 2008-10-24 17:23:01

CDS! CDS! It’s All McCain’s Fault! CDS!

Byron York and Matt Taibbi have an exchange of sorts over at New York Mag, in which Taibbi reveals himself to be a repulsive jerk ... payments. The CDS market, this market for credit default swaps that was created in 2000 by Phil Gramm ... in recent years. Despite “repeated warnings about credit risk,” Lockhart testified, Fannie became [more...]

Date: 2008-10-15 03:47:06

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