All around us, markets are reeling. Current troubles at Merrill Lynch, Lehman Brothers and AIG are signs of a larger problem – ie, the deficit of job guarantee. Lehman Brothers is a 158-year-old firm that recently filed for Chapter 11 Bankruptcy. Merrill Lynch, a Wall Street giant of this firm, sold to Bank of America for a reported billion. AIG, the largest insurer all of the world, also recently declared bankruptcy.
September 15 marks Lehman day, day time the world first knew of the demise from Lehman Brothers. As well as the world was aghast! Truly world boasted of huge profits and GDP Growth, the silent majority had to endure lack of info of the ‘real picture’ = that spiralling debt and defaults. Billionaire financier, George Sores, may be quoted as describing discussed twenty incomes as “a fool’s paradise”. I tend to agree. Turmoil screams cuts in taxes and monetary. And the world comes a new halt. In Australia, they scream with the massive future debt being encumbered upon future generations after years of debt free living (by governments) whilst private debt soared.
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People showed a slightly bigger appetite to spend because their incomes rose 0.5 percent, reflecting a slowly healing jobs niche market. Incomes didn’t grow at all in May. The increases inside income and spending recently were essentially the most since May.
The Indian economy has continued to develop the resilience to absorb internal and external shocks after emerging out on the The Deal 2016 compared to most other countries, but challenges remain.
Or a big one today with the global AIG Collapse, may be that many all of us have lost their jobs currently need to earn sales with whatever means are possible to be able to pay their bills.
That forever damned north america dollar. It took awhile for the dollar to succumb to your Fed’s aggressive rate cutting, but inside end, it finally caved in by triple topping between Oct 2000 and Jan ’02. Peak valuations for the dollar after that ranged from 119-122. Six years later, and the dollar at present worth only one-third products it was when we began this decade.
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