A quarter century of economic growth has been wiped out worldwide in a matter of months.
Car sales at 25 year lows.
Unemployment at 25 year highs.
Retail sales overall at 25 year lows.
Stock markets at 25 year lows.
At every single step the government, businesses and economists have been completely wrong about the depth, breadth and speed of [...]
Filed under: Economics, Economy, Geopolitics, Politics | Tagged: business | 6 Comments »
It appears that the only way to move forward is to create a ‘more’ socialist country. Therefore, every citizen at this time should incorporate as a business and get in line at the U.S. Treasury since no matter who becomes the next president, the current president has decided that socialism is not that bad after [...]
Filed under: Uncategorized | 2 Comments »
In the Bitter Hinterlands the realization that the government is playing the taxpayers has finally begun to sink in with those that have claimed the economic fundamentals were strong. Back on July 3rd, 2008 we posted An Economic Model without the fancy clothes which made the claim that ‘M’ [money] is a liquid acting as [...]
Filed under: Economics, Economy, Election 2008, Politics | Tagged: Federal Reserve | 3 Comments »
Not that you read much about this in the MSM, the U.S. version that is, because you have to read Reuters to get a true picture of the extent of the housing crisis. Which is why all the flailing and bailing by central banks and governments worldwide to free up the interbank loans may all [...]
Filed under: Uncategorized | 6 Comments »
Out in the Bitter Hinterlands we pay close attention to other countries. This post is called “One example why America is so far behind in technology” and points out that transportation is not only a vital national security issue but also has enormous impact on our economy.
Sincerely,
Bitter Hinterlands
Filed under: Commentary, Economics | No Comments »
Propped up by bloated government spending and fueled by inflated personal loans the America of plenty has been riven by the truth of economics. The lifestyle of consumption was not created by rising worker wages but by rising reservoirs of debt backed by the presumption that recessions were for other countries. The collapse of the [...]
Filed under: Commentary, Culture, Economics, Economy, Election 2008, Media, Politics | No Comments »
When the Bitter Hinterlands asked back on 8/11/08 “Who will be the next owner of Chrysler?” we didn’t include Ford or GM because the Big Three are all going under due to chronic mismanagement and complete blindness towards proper economic planning. No one in or out of the auto industry thinks that GM buying Chrysler [...]
Filed under: Economics | Tagged: autos, business, Chrysler, GM | 4 Comments »
Hong Kong Hang Seng Index: Oct 07 ~31,958 Oct 08 ~14,796 down 54% in 12 months
Japan Nikkei 225 ……. Index: Oct 07 ~17,489 Oct 08 ~8,276 down 53% in 12 months
Singapore Straits Times Indx: Oct 07 ~ 3,897 Oct 08 ~ 1,948 down 50% in 12 months
South Korea Seoul Com Indx: Oct 07 ~ 2,085 [...]
Filed under: Uncategorized | 2 Comments »
Out in the Bitter Hinterlands we have all worked for companies that have - shall we say - inflated the bottom-line in order to increase the worth of publicly traded stocks.
According to the CIA World Fact Book the 2007 estimated world GDP was $65.61 trillion at purchasing power parity and $54.62 trillion at official exchange [...]
Filed under: Economics, Economy | Tagged: bailouts, business, derivatives, GDP, recession, Stock Market, Wall Street | 1 Comment »
Monday, October 6th 2008
Singapore Straits Times: Down 5.6% today to new 52-week low down 44% from 52-week high.
Japan Nikkei Stock Ave : Down 4.2% today to new 52-week low down 40% from 52-week high.
Hong Kong Hang Seng : Down 4.9% today to near 52-week low down 53% from 52-week high.
South Korea KOSPI Inx: Down 4.2% [...]
Filed under: Uncategorized | 7 Comments »
Many in the Bitter Hinterlands remember the pet food recalls in 2007 when melamine was reportedly the ingredient contaminating wheat gluten in pet food. Many pets became sick and died and the FDA has yet to conclude that the reported thousands of pet deaths were the result of the melamine.
Current research has focused on the [...]
Filed under: Asia, China, Commentary, Economics, Economy, Geopolitics, News | Tagged: melamine poisoning | 2 Comments »
Update: The Senate has approved the Emergency Economic Stabilization Act of 2008 House bill H.R. 1424 by a vote of 74-25. Both Obama and McCain voted yes.
The U.S Senate has now released the text of the new and improved “Emergency Economic Stabilization Act of 2008″ links to PDF on the Banking Committee page. Since [...]
Filed under: Congress, Democrats, Economics, Economy, Election 2008, News, Politics, Republicans | Tagged: bailout, Emergency Economic Stabilization Act of 2008, Senate | 10 Comments »
Today’s word in the Bitter Hinterlands is ‘disappointed’ boys and girls. After the House rejected the Emergency Economic Stabilization Act of 2008 aka the Wall Street bailout bill by a margin of 228 to 205 with 95 Democrats joining 133 Republicans in voting no the reactions amongst the leadership was disappointed.
As the vote was happening [...]
Filed under: Congress, Democrats, Economics, Economy, Election 2008, News, Politics, Republicans | Tagged: bailout, Emergency Economic Stabilization Act of 2008 | 2 Comments »
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Alaskans for Obama
In an election campaign filled with strange twists and turns, one of the strangest twists has to be yesterday’s endorsement of Sen. Barack Obama for president by the Anchorage Daily News.
Alaska enters its 50th-anniversary year in the glow of an improbable and highly memorable event: the nomination of Gov. Sarah Palin as the Republican vice [...]
Filed under: Barack Obama, Commentary, Democrats, Economics, Election 2008, John McCain, Media, News, Politics, Republicans, Sarah Palin | Tagged: Anchorage Daily News, endorsements | 5 Comments »