Business Commentary
Video (5min 34sec): US Can Print As Much Money As It Wants!
That is according to Irina Kobrinskaya, from the Institute of World Economy and International Relations, and RTs political commentator Peter Lavelle.
"The Americans believe they can spend their way out of this.
The Chinese think the world should spend their way of of it.
Deleveraging Pushes Up the Dollar by John Browne, Euro Pacific Capital.
In view of the economic crisis facing the American and global markets, the recent strength of the U.S. dollar has confounded analysts.
After all, the global economic problems essentially emanate from the United States and one would assume that the collapse of our economy would drag our currency down. That has not, as yet, transpired. The explanation can be found in a financial concept known as deleveraging.
US president-elect Barack Obama supports a coordinated response to the global financial crisis and is ready to work with Group of 20 countries on improving the financial system when he takes office.
"The president-elect believes that the G20 summit of leaders from the world's largest economies is an important opportunity to seek a coordinated response to the global financial crisis," former Secretary of State Madeleine Albright and former congressman Jim Leach said in a statement.
Albright and Leach were designated by Obama to meet with visiting dignitaries on the sidelines of the G20 summit. Neither they nor Obama attended.
If Barack Obama Wins, I'm Buying Stocks by Marvin J Markus.
If the Democratic nominee for President, Barack Obama, wins the Presidential election on November 4th, I'll be investing in the stock market on November 5th.
Why? Because Democrats have proven time and time again to be much better at leading the economy than Republicans have. The Democrats approach the economy from the perspective that every American deserves to prosper, while the Republicans approach it with the idea that the rich need to get richer and that somehow some of those riches will "trickle down" to the rest of us.
Shockwaves from the global credit crisis spread on Thursday, threatening industry and jobs worldwide and putting pressure on the US Congress to pass a $700 billion bailout of the US financial sector. But how much is $700 billion? Compared with the debt of the United States, which the US Treasury has asked to increase to $11.315 trillion to fund the plan, it doesn't seem much.
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