Obama Readies Plan to Save Home
With the stimulus bill signed and delivered, President Barack Obama will now turn his attention to dealing with the dramatic rise in private home foreclosures. More
See also – New Home Construction Falls More Than Expected
Germany to Take Over Banks
The German government is preparing a law that would see it nationalize the country’s struggling banks. While billed as a “temporary” measure, the law would allow the government to control the shares of private sector banks. More
European Union Deficits Climb
Further evidence of growing turmoil within the European Union came to light recently with news that the planned deficits for several EU countries including France, Ireland, Greece, and Spain have surpassed the limit of 3% imposed by the rules of the EU. In response, the European Commission will impose a deadline for when the countries must reduce their deficits or face further disciplinary action. More
Global Recession Hurts Australian Resource Sector
Western Australia – famed for its abundance of resources – has begun to feel the effects of the collapse in global demand for the region’s exports. Several mining projects have been shut down and all signs are that the major markets in Asia will continue to decline. More
