She was there again this weekend. She must be in her late 40s, but her hair is neat, and her skin and teeth seem well cared for. She must be new to begging — that seems fairly obvious. Rather than meet the eyes of passing drivers, she keeps hers averted, looking down at the "Homeless, [...]
Aug 30 (Reuters) - Germany and China plan to conduct an increasing amount of their trade in euros and yuan, the two nations said in a joint statement after talks between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on Thursday. Remember, Germany's the economic engine of Europe, and China is the economic [...]
According to Rasmussen Reports, 44% of Americans trust Obama more on the economy than Romney. Really? REALLY?!? Under Obama’s administration, America’s credit rating was downgraded for the first time in America’s history. As a result, the cost of borrowing increased. For example, instead of borrowing, say, $100 BILLION from China at 2%, it will now [...]
http://abcnews.go.com/WNT/video/us-bridges-roads-built-chinese-firms-14594513? Note, however, that government spending does NOT create wealth, it merely creates jobs. If OUR government spends money in China, it transfers wealth to China.
Bloomberg (props yet again to Zerohedge); China makes a major move clearing the way for dropping the use of USD in international trade: Japan and China will promote direct trading of the yen and yuan without using dollars and will encourage the development of a market for companies involved in the exchanges, the Japanese government [...]
Solyndra execs will decline to testify at hearing In the letters sent to the House Energy and Commerce Committee's Subcommittee on Oversight and Investigations, attorneys for Solyndra CEO Brian Harrison and CFO W. G. Stover said they advised their clients not to provide testimony during the hearings. The bankrupt company's $535 million federal loan guarantee [...]
This is not investment advice. I am not an investment professional, and you should seek professional advice before making any investments. Bloomberg: Gold imports by China may increase after investment demand more than doubled in the first quarter, with the country overtaking India to become the largest market for gold coins and bars, the World [...]
A few days ago we posted this piece on trade negotiations between India and Iran. India imports 80% of its oil, and buys about 16% of its imported oil from Iran. This is a very important matter for India. The United States is pressuring India to participate in economic sanctions against Iran and that has [...]
It's undeniable that modern economies run on energy and that oil is one of the more useful forms of energy. One of the principal values that still undergirds the value of the U.S. Dollar is the fact that the major Middle East nations still sell oil priced in Dollars. You might not know that Russia [...]
The saying goes, desperate times call for desperate measures. But David Broder's column in WaPo yesterday brushes aside all pretenses. Titled "The War Recovery?", Broder openly suggests that the U.S. ramp up for war as a way out of our economic crisis, and that the Republicans would likely support this: The steps that have been [...]
One of the roles of the "world reserve currency" is its use as a primary currency of choice in settling international trade. This literally means that foreign trade, even between non-U.S. trading partners, is settled in U.S. Dollars. This is done advantageously by both trading partners; by the purchaser because dollars are readily available, and [...]
Just in, China has a new weapon. The carrier killer. Final testing is later this year. It is a land based missile that travels at 10 times the speed of sound and can hit a moving carrier 900 miles away. Goes right thru the hull and sinks the carrier. Surprised? No need to be. They are [...]
