China’s President, Hu Jintao, came to Washington last month with his game face intact. While there was puffery from the likes of New York Senator Charles Schumer about the need for China to let their currency float on the free market, Hu smiled, attended the state dinner in his honor, and stopped by Chicago on his way out of town and signed a deal by which China’s largest bank (and by some measures the largest bank in the world), the Industrial & Commercial Bank of China Ltd. agreed to acquire buying the Bank of East Asia which has branch networks in California and New York. There is no Financial Crisis in China. Read more »
Archive for February, 2011:
What Does Mexico Know About The Financial Crisis That We Don’t?
In a startling turn of events that the mainstream media has yet to touch due to its sizzling with economic import, a website called the People’s Voice (www.peoplesvoice.org) reports that the Mexican government passed a law in September, 2010 which restricts the use of dollars for almost all purchases made in Mexico. Read more »
The Financial Crisis Inquiry Commission issued it conclusions last week.
The report covers what the Commission views as causes of the financial crisis. The report is 150 pages long and covers a great deal of material in a great detail. Some of the information is valuable perhaps much of it is valuable. The problem with the report is that it addresses only symptoms. It never truly gets to the actual cause of the financial crisis. Read more »
Is Our Financial Crisis Bigger Than Military Challenges?
There is a Rasmussen poll out which notes that 82% of the American people believe that economic challenges to the United States are a bigger threat than military challenges. Whether or not the public understands all the intricacies the economy, financial crisis or international finance, they do know that something is very wrong – not the least of which is a $1.5 trillion US budget deficit this year alone. Read more »