Word: banking
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...these traders who cryptically buy and sell oil contracts for pure profit, without supplying it or using it? Most people immediately think they're hedge funds but forget about the investment banks. Then again, you don't have to be a hedge fund or an investment bank to be an oil speculator. Be forewarned, though: trading oil futures is not like trading stocks and bonds. It's not for the ordinary investor. It's a wild ride. If you're willing to take the risk, here's how you might go about...
...speed and relative success so far of China's stimulus stands in stark contrast with that of the U.S. According to a recent study by the World Bank, Beijing's government spending will generate more than 80% of the country's overall economic growth this year. This is partly because China was already in the midst of a nationwide infrastructure program when the recession hit. Emergency spending measures simply added to existing schemes already under way. In other words, the projects really were shovel-ready, and the money hit the streets quickly - and in large dollops. Outlays on new railway...
Best Price has tried to match this, but customers have to pay for home delivery. It has also linked up with Kotak Mahindra Bank to offer "business cards" with which customers can shop on credit for 14 days. Kalia, the restaurateur, laughs at this: "In a country where half the economy is a black economy, how do they expect a shopkeeper to give checks and put all transactions on record...
...didn't lenders better capitalize on our speculative bent sooner? Our banking system was never national. In fact, it wasn't even retail in the 19th or early 20th century. The banks that were capable of doing the most lending to individuals didn't actually do it. We had to wait until Bank of America, for instance, got into business and a lot of the companies like Household Finance that started making consumer loans for this thing to actually warm...
...rare position of being able to say such things without being viewed as a neocolonial scold. Now U.S. Secretary of State Hillary Clinton has embarked on a mammoth seven-nation Africa tour to follow up her boss's sermon with preaching of her own. But can she bank on the same reception he got? (Read a story about Obama's trip to Africa...