As the economic tsunami continues to rage across the planet, the near universal refrain has been that joint action is needed to pull us out of the crisis. But when it comes to stimulus spending, the United States and Europe have taken different paths, jeopardizing hopes of a united front to combat the downturn. President Barack Obama this week urged the world’s top economies to adopt aggressive, American-sized spending programs.
Tag Archives: economy
CNBC Under Fire: Sticking Up for the Big Guy?
On the March 9 edition of CNBC’s Squawk Box, Becky Quick was interviewing Berkshire Hathaway CEO Warren Buffett when the Oracle of Omaha expressed support for the Obama Administration’s mortgage bailout. “Becky,” co-host Joe Kernen broke in, “tell Warren you’re mad that you’ve done all the right things and all these other people are going to get bailed out.” Buffett replied, “There’s nothing wrong with being mad, Joe.
Obama’s Reform Agenda: Is He Trying to Do Too Much?
On the best of days, Washington and Wall Street are as antsy as a boy who plants an acorn and then starts talking about climbing the tree. And these are not the best of days. Under the stress of a global financial disaster and juiced up on the amphetamine of 24-hour cable chatter, America’s axis of money and influence is jittery and nervous and primed for panic
Can Obama Keep Moderate Democrats from Bailing on His Budget?
First there was last winter’s $168 billion economic stimulus package, followed by a $300 billion fund in June to help distressed mortgage holders. Then came $350 billion for the banks , another $350 billion for the banks, $787 billion in economic stimulus and $410 billion in an earmark-packed spending package for fiscal 2009 that Congress passed on Tuesday. Dizzy
Construction accident buries 7 in China
The collapse of a construction site for a high-speed Beijing-Shanghai rail line buried seven workers in Danyang, China, in the eastern province of Jiangsu on Wednesday, state media reported.
Obama’s honeymoon with Americans still going strong
President Obama is halfway through his first 100 days in office and he’s still enjoying a honeymoon with the American public, according to an average of recent polls. Obama’s job approval rating stands at 61 percent in a new CNN poll of polls, which averaged seven national surveys conducted over the past two weeks
Postal Service draws criticism for $1.2 million home buy
At a time when the U.S. Postal Service says it is experiencing a financial crisis, it purchased a $1.2 million home from an employee so he could relocate, a CNN investigation has found.
Q & A: What is ‘quantitative easing?’
The UK government has announced plans to introduce "quantitative easing" to help the economy. That’s correct.
Saskatchewan a jobs ‘hot spot’ in Canada
Normally, "hot spot" isn’t the first phrase that comes to mind when talking about Saskatchewan, Canada.
Six Signs the Recession Is Ending
A number of economists predict that the recession could last into 2010 and unemployment will top 10%. If the crisis does not deepen into an even longer downturn, there will have to be early signs that the credit crisis is ending and that consumer and business confidence are coming back. And, there are a few things to watch for.