The 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
US economy news
U.S. retailers’ sales declined last week the most in almost six years as steeper markdowns before and after Christmas failed to salvage what may be the worst holiday shopping season in four decades.Read More »Retail sales drop
Recently some worrying news came throgh the main media channels and I had to apply my economics knowledge again to the reality.
The U.S. trade deficit probably widened and the cost of imported goods jumped, underscoring how the surge in oil prices is hurting growth and igniting inflation, economists said before various reports are released this week. Read More »The US trade gap widening and its consequences for investing