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The Bank of England surprised all economic estimates today when it revealed that the UK GDP continued to contract in the third quarter. Most analysts were expecting modest growth, and the Bank of England itself had been jawboning the notion that there would be growth. Instead, GDP contracted by 0.4%, which raises questions about other [...]
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Over the last two weeks, I think I’ve read about FIVE times in the news that the stimulus bill has passed. Passed in the House, passed in Congress, passed in the Senate (that’s today); revised and passed again. It makes sense that it would have to pass through all the different bodies of the US [...]
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Breaking news – late on Friday, around 9pm EST I think, Obama’s stimulus proposal tentatively passed, legalizing a stimulus of about $780 Billion, cut back a bit from the $900 Billion originally proposed.
I was starting to get worried.
Now let’s see how quickly he can sign it and get it working.
Monday, February 9 update: OK, it [...]
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Watch the first five minutes of this video clip from BNN (Canada’s all-business channel). Peter Gibson is Vice-Chair of Desjardins Securities, and he uses the D-word. In fact he says he still believes there’s a 30% chance we can fall into a Depression if measures aren’t put in place to avoid a “second-wave” collapse in [...]
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The so-called “Buy American” clauses in U.S. President Barack Obama’s 2009 stimulus bill package may initially sound like a good idea given all the recent layoffs and newly unemployed workers, but it recalls that ugly bumper sticker that I love to hate and tend to snicker at those driving the cars on which it is [...]
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U.S. President Barack Obama, according to this Washington report, said “he’s confident that a multibillion-dollar plan to kick-start the ailing economy will survive a crucial House vote.”
It’s unclear how much Republican support he’ll get for the 2009 economic stimulus package, but Obama said “I’m confident we’re going to get it passed.”
According to the report, “the [...]
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Today on BNN’s SqueezePlay Kevin O’Leary suggested that the Canadian banks might catch the same “second leg down” disease that the American banks have now. Rather, Kevin suggested he might start to worry about that possibility. He didn’t actually say he thought the possibility was probable right now, just that it had come onto the [...]
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