Category: financial crisis

disaster capitalism financial crisis Politics US economy
March 25, 2009

China Calls for New Reserve Currency

Original story here . In time, everyone will be calling for a more international approach to pricing everyting, including commodities, goods and services and maybe even US securities. This doesn’t bode well, of course, for the world’s largest printing press and the state of borrowing in the US. Potential outcomes:  a big drop in the value of the US currency on the global stage, a […]

economics financial crisis interflation US economy
March 24, 2009

UN Recommends World Should Ditch Dollar

It’s about time:  folks at the UN are recommending that the world ditch the US dollar in favour of a shared reserve currency. Original Reuters story here . For years (arguably, decades), the US has dominated the world economic scene because they’ve been very effective in having everything trade in US dollars, including commodities, treasuries and other securities. The commodity shock that the world felt […]

canadian election DHS economics financial crisis Food/diet shock tax issues
March 15, 2009

$3 Billion Reasons to Beware

In addition to the tens of billions waiting in the wings, the Conservative government seems to be obsessed with getting Parliamentary approval on a $3 billion slush fund that’s been set up as an ‘instant’ response to Canada’s dire economic situation. I’m going to start this blog by making a prediction. I predict that the Conservative government with Stephen Harper at the helm does not […]

Canada economics financial crisis US economy
February 7, 2009

Why Can’t We Just Spend Our Way Out of Depression?

The Canadian government has made a commitment to spend an unprecedented amount on ‘stimulus’.  So has the US.  The British government has bought many banks (along with the US) and will likely buy several more over the coming months.  The EU has reduced lending rates in order to encourage people to borrow, spend and borrow some more. Through this process, the world’s economic ‘power houses’ […]