Word: financees
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Figures released this week indicated Japan may be climbing out of its worst recession in decades. Third quarter GDP growth came in at an annualized rate of 4.8%. But other statistics painted a more troubling picture. The price of goods and services slid by 2.6% in the third quarter, the...
While a little inflation is considered normal and healthy for growing economies, a prolonged deflationary period is a recipe for economic misery. Falling prices drag down corporate earnings, wages, consumer spending and investment by businesses, and can lead to a deflationary spiral like the one the world experienced during the...
This is the case because the investment banking division can use FDIC-insured funds from the retail-banking division to indirectly finance excessive risk-taking. The retail bank’s customers will not transfer their deposits to a safer institution because they know that the FDIC will compensate them...
Kenya's wabenzi just got downgraded. Thanks to a government cost-cutting program aimed at saving taxpayers some $27 million, Finance Minister Uhuru Kenyatta announced this summer that government ministers, along with assistant ministers and permanent secretaries, must turn in their ubiquitous Mercedes-Benz for Volkswagen Passats, which not only...
Finance Minister Kenyatta (son of Kenya's first President) insists that a tender was run in 2008, though he has yet to produce proof of that process. Kenyatta says that the Passats send a message of frugality and insists the tender was aboveboard. "The purchase passes the test of integrity...