February 2009

$800 Billion Stimulus Plan Approved By Democrats

obama-stimulus-planThe Democrats approved yesterday what could be called the last line of defense against a total crash. Of course, they still have to pass this through the Congress, where the Republicans are strongly opposing it. And the signature of Barack Obama seems a formality, so the biggest part of the battle has been done. After the disastruous news on the jobless rate reaching new heights (see our previous blog on doitinvest.com), the mass media pressure convinced the senators to approve the $800 billion stimulus package.Read More »$800 Billion Stimulus Plan Approved By Democrats

U.S. Jobless Rate Pushes the Crisis Even Further

crisis1Almost 600,000 U.S. jobs were wiped out in the month of January, driven by layoffs undertaken by some big corporations, such as the equipment producer Caterpillar or the retailer Macy’s.
This is the largest level for the last 16 years, since January 1992, and at that time we were amidst a different crisis. The jobless rate, calculated by the Department of Labour, increased from 7,2% to 7,6%. Read More »U.S. Jobless Rate Pushes the Crisis Even Further

Service Industries Slowing Down

The service industries from US reported a small victory in January, by slowing at a slower pace than forecasted. The Institute for Supply Management’s index of non- manufacturing businesses, which compose almost 90 percent of the economy, increased to 42.9 from 40.1 in December. Figures below 50 signal a contraction.
This could indicate a turning point in the natural curve of those industries. Read More »Service Industries Slowing Down