MEANWHILE BACK IN AMERICA
Today’s Wall Street Journals headlines read, “WALL STREET BACK ON TRACK TO AWARD RECORD PAY”. By contrast, the headlines in the L.A. Times business section included, “DEFAULTS LIKELY TO KEEP RISING”. “Major U.S. Banks and securities firms are on pace to pay about $140 billion this year, a record high that shows compensation is rebounding [...]
PRESIDENT OBAMA, YOU BECOME MORE LIKE NEVILLE CHAMBERLAIN EVERY DAY
Neville Chamberlain, as Prime Minister of Great Britain during the thirties, believed a commitment to peace was the better route to handle grievances between countries and thus appeasement would thwart the aggressive demands of any dictator by removing the need for him to adopt such strong-arm tactics. While it was a very noble principle, Adolf [...]
THOSE COWBOYS ARE AT IT AGAIN
The sharp decline in the price of a barrel of oil last week was not the result of excess supply over demand. The world has been awash with oil for the last nine months. Consumption even in America has hit lows never seen in decades and the rest of the world has realized it too [...]
AMERICAN UNEMPLOYMENT NUMBERS REACHING CLOSE TO 10%
It will be interesting to learn what the Obama administration start to tell us now six months into the year and we still see falling house prices, falling car sales and rising unemployment. To add to our woes, interest rates are starting to climb. Banks in less than a month are asking another point for [...]
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