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28 Mar 2009 14:08

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Politics, U.S.: The Republican who nearly joined Obama’s cabinet has beef

  • In the next five years, President Obama’s budget will double the national debt. In the next 10 years, it will triple the national debt.
  • Sen. Judd Gregg, R-NH • On Barack Obama’s budget plan and how it will saddle future generations with heavy debt. He says Obama’s plans “represent an extraordinary move of our government to the left.” Gregg nearly became commerce secretary but backed off after finding the ideological differences to be too extreme. • source
Posted by Ernie Smith • 0 Comments • Permalink

28 Mar 2009 13:03

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Biz, World: An example of the mushroom effect of the credit crunch

  • The Royal Bank of Scotland, well-known for its globalization efforts, has been ordered by the British government to pump billions into the British credit market. source
  • So RBS can redouble its efforts in its homeland, the company has recently started to scale back and tried to sell a number of its global endeavors – in countries big and small. source
  • Due to the new tightening of credit in developing countries such as Vietnam and Romania, the world credit market takes a hit and begins to constrict even more. Yikes. source
Posted by Ernie Smith • 0 Comments • Permalink

27 Mar 2009 18:07

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Biz: Stocks sucked today. But this week, overall, ruled.

  • 6.8% increase for the Dow this week; not bad duders source
Posted by Ernie Smith • 0 Comments • Permalink

26 Mar 2009 10:38

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U.S.: Camping is the new hip thing to do in our cruddy economy

Posted by Ernie Smith • 0 Comments • Permalink

26 Mar 2009 10:18

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Biz, U.S.: The economy’s showing signs of life, but not in jobless claims

  • 5.56 million ongoing jobless claims, which is a (sad) record source
Posted by Ernie Smith • 0 Comments • Permalink

25 Mar 2009 10:30

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Biz: Another piece of the economy, durable goods, unexpectedly perks up

  • +3.4 increase in durable goods (computers, machinery, etc.) sales in February; that’s really good. Time to party! source
Posted by Ernie Smith • 0 Comments • Permalink

24 Mar 2009 22:49

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U.S.: Oh yeah, we heard Obama was on TV tonight

  • It took many years and many failures to lead us here. And it will take many months and many different solutions to lead us out. There are no quick fixes, and there are no silver bullets.
  • President Barack Obama • In a rare prime-time news conference tonight, where he defended his budget, spoke honestly about the challenges the country faces, focused on the economy and those pesky AIG bonuses, discussed a couple of other things (because, remember, the economy is but one problem this country faces), and pre-empted “American Idol.” Sounds like he filled a lot into a single hour. • source
Posted by Ernie Smith • 0 Comments • Permalink
 

24 Mar 2009 10:45

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Culture: South Park probably has something clever to say about the economy

The show, famous for its quick turnaround time on cultural events, tackles the economic crisis tomorrow night. source
Posted by Ernie Smith • 4 Comments • Permalink

23 Mar 2009 22:18

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Biz, U.S.: Timothy Geithner, isn’t it nice that today didn’t blow up in your face?

  • Last month, Geithner released an economic plan short on details and high on hope. Wall Street didn’t like that. source
  • This month, Geithner actually released a detailed plan that said what they were gonna do. Wall Street liked that. source
Posted by Ernie Smith • 0 Comments • Permalink

23 Mar 2009 21:54

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Biz, U.S.: The stock market really liked the bailout news a lot

  • +497 we had a good day, now it’s time to party! source
Posted by Ernie Smith • 0 Comments • Permalink
 
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