Archives for 2008

December 2008 - Page 7 of 153 - Money Morning - Only the News You Can Profit From

Why the $700 Billion Bailout Bill Will Fail US Taxpayers

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When the banking-system bailout plan – formally referred to as the "Emergency Economic Stabilization Act of 2008" – was originally unveiled, the financial-crisis firefighters at the U.S. Treasury Department were essentially reprising the Florida firefighting strategy. And U.S. taxpayers can anticipate an outcome a lot like the one that afflicted the Coral Gables apartment dwellers.

Unfortunately for the U.S. taxpayer, there's no Biltmore in which to seek temporary shelter. There's only one U.S. economy, and we have to stay in it, whether it's been condemned or not.

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With Billions in Bailout Funds Flowing, the "Peso-fication" of the Dollar Continues

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By Martin HutchinsonContributing EditorMoney Morning The plethora of bank and corporate bailouts, stimulus plans and interest-rate cuts that the U.S. government has produced over the last three months can only lead to one outcome: The U.S. dollar has to decline. During the crisis so far, the dollar in general, and U.S. Treasury bonds in particular, […]

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Global Investing Roundups

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South Africa Cuts Interest Rates; BlackRock Cans 500; Empire Co. Posts 13% Profit; KB Toys Files for Bankruptcy; Citi and UBS to Buy Back $30 Billion in Securities; Bank of America to Cut 35,000 Jobs South Africa’s central bank cut a half-percentage point from its benchmark interest rate, marking the country’s first interest rate reduction […]

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Trade Deficit Grows, Despite Record Decline in Oil Prices

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By Jason Simpkins Associate Editor Money Morning The U.S. trade deficit grew in October as both the volume of oil exports and our trade deficit with China surged to a record highs. A widening deficit means the United States will not be able to rely on trade to help pull the economy out of what […]

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China Inflation Hits 22-Month Low, Slows to 2.4% 

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By Mike Caggeso Associate Editor Money Morning China's once-rampant inflation has cooled to its slowest pace is 22 months, opening the door for aggressive interest rate cuts that could potentially kick-start its economy back into high gear. China's consumer price index for November climbed 2.4% for the year, a sharp drop from the 4.0% posted […]

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Auto Bailout Passes House, Faces Hostile Senate

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By William Patalon III Executive Editor Money Morning/The Money Map Report The U.S. House of Representatives approved a $14 billion federal loan package for Detroit's embattled "Big Three" late yesterday (Wednesday), overcoming Republican opposition in the House but leaving the bill to face an uncertain fate in a hostile Senate. The bailout package bill for […]

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Auto Bailout Awaits Congressional Approval with Millions of Jobs at Stake

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By Mike Caggeso Associate Editor Money Morning Congressional Democrats and the White House yesterday (Wednesday) finalized a short-term package that’ll supply General Motors Corp (GM), and Chrysler LLC with $14 billion in emergency loans. The bill clearly falls short of the $34 billion the Big Three were asking for, but should be enough to keep […]

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Global Investing Roundups

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China Exports and Import Decline; Rio Guts 14,000 Jobs; Wells Fargo CEO Sees Housing Bottom; Orascom Lands North Korea Telecom Deal; Office Depot Shutters 112 Stores; JA Solar Cuts 4Q Estimates China’s exports fell 2.2% and imports plummeted by 17.9% in November, pushing its trade surplus to a record $40.09 billion, Bloomberg reported. “The figures […]

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