Word: financees
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As a result, it's unlikely that any of the $1 trillion Obama wants for his "bad bank" will be turned into credit that helps revive business and consumer spending. The main reason is that the North-American economy might be stuck in a classic liquidity trap, first witnessed during...
How effective all that will be remains unknown. No plan can change the fundamental economics of a bubble deflating or an economy stalling - of overpriced homes returning to more reasonable prices and out-of-work homeowners not having the income to make mortgage payments. What this plan does offer, though...
Slurred speech. Long pauses. Answering questions that weren't directed to him and blurting out others. For days, Japan's Finance Minister Shoichi Nakagawa's appearance, during which he appears to be drunk, has been painfully public on the YouTube video of a G7 press conference in Rome last week...
The rudderless finance ministry that Nakagawa's resignation leaves can't help an already dismal outlook for the Japanese economy. This week's figures show that Japan's economy contracted last quarter at an annualized rate of nearly 13%, exports were down nearly 14%, and that more layoffs are on...
Aso has already named Minister of the Economy Kaoru Yosano, 70, as Nakagawa's replacement. Yosano, who claims he taught DPJ leader Ichiro Ozawa to play the chess-like game of Go, will now wear three hats in Aso's government, running the ministries of economy and finance and the...