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Asian Governments Signal More Interest Rate Cuts Coming Soon
With inflation slowing in Asia, governments are signaling they are open to cutting interest rates to buffer their economies from the global credit dearth.
A handful of Asian countries – Australia, China, Hong Kong, India, Japan, South Korea, Taiwan and Vietnam – all cut rates since last week. And among those, South Korea, Indonesia and Thailand reported slower inflation this week, Bloomberg reported.
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The combination of both lower inflation and lower rates is starting to be priced into the…
6Nov2008 | Money Morning | 1 comment | ContinuedGovernment Grapples With Details of $700 Billion Bailout
President George Bush yesterday (Monday) urged congressional legislators to put aside differences and work together for a speedy passage of a bill that would pledge $700 billion in taxpayer money to fight the current financial crisis – the largest bailout in U.S. history.
“[T]here will be differences over some details, and we will have to work through them. That is an understandable part of the policy making process,” President Bush said in a statement released yesterday. “[T]he whole world is watching to see if we can act quickly to shore up our markets and prevent damage to our capital markets, businesses,…
23Sep2008 | Managing Money | Comments Off | ContinuedCorporate Governance Runs Up The White Flag
Your Federal Government Is Now An Insurance Shareholder?
Well, American International Group (NYSE – AIG) certainly went south faster than we expected. Rather than rising to fill the gap before plunging, it instead plunged straight away. Will there be a bounce? Well, let’s look at recent surprise developments before making a prediction.
The U.S. Federal Reserve Board has just agreed to lend up to $85 billion to AIG to allegedly prevent a “disorderly failure” that could wreak economic havoc. The loan is secured by all AIG and primary non-regulated subsidiary assets so that the insurance giant can meet its obligations as they…
18Sep2008 | Oxbury Research | 2 comments | ContinuedGRAND THEFT SOCIETY
A core problem with government is that its managers believe that all reality will conform to their wishes if they issue the right orders, pass the right laws, and put the right people in charge. Reality resists this simple-minded approach; witness the debacle of the war on terror. Sadly, the same group that has managed that war is now managing another one: the war on recession.
The tendency of these managers is to fabricate a view of cause and effect that conforms to what they would like to do. In the war on terror, we were told that the 9-11 attacks…
4Jul2008 | Daily Reckoning | Comments Off | ContinuedA Plan to Grant the Fed Additional Powers Will Only Exacerbate Current U.S. Woes
Throughout history, governments have always used crises to justify blatant power grabs. All too often, the “expanded government powers” that resulted from the moves remain in place – even after the crisis subsides.
This tendency has come into sharp focus here in America recently. Congress signaled that it is preparing to perpetuate the Bush Administration’s domestic wiretapping program, and has even abandoned the pretense that warrantless surveillance be confined to terrorism.
Similarly, even though our financial crisis has yet to reach full flower, U.S. Treasury Secretary Henry M. Paulson has announced plans to give the U.S. Federal Reserve new and explicit powers…
24Jun2008 | Money Morning | Comments Off | Continued
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