Continue reading China ups 2007 growth estimate, now world's third largest economy

China ups 2007 growth estimate, now world's third largest economy originally appeared on BloggingStocks on Wed, 14 Jan 2009 13:16:00 EST. Please see our terms for use of feeds.

Continue reading Global economy: 'From boom to bust in one year'

Global economy: 'From boom to bust in one year' originally appeared on BloggingStocks on Fri, 19 Dec 2008 12:40:00 EST. Please see our terms for use of feeds.

Add two more somber forecasts for the global economy -- each with its own ignominious distinction.

The World Bank said the global economy will enter a recession for the first time since 1982. Equally distressing, international trade will also decline from 2007 levels.

Incredibly, the bank said it now expects global GDP growth to decline to a scant 0.9% in 2009 from 2.5% in 2008. That is a recession for the global economy, as any global growth rate under 2.0% is tantamount to a recession, economist David H. Wang said.

"This is very concerning news, if the World Bank's forecast proves to be accurate," Wang said. "Up to now many forecasts had global growth in the 1.5-2.0% range for 2009. My own estimate was for 1.8-2.0% GDP growth. A GDP rate below 0.9% is a major recession, which will mean higher unemployment, lower corporate revenue, and decreased trade, in most nations."

Further, global trade is expected to decline 2.1% in 2009, the bank said, its first decline since 1982, on reduced global demand and export credits.

Continue reading World Bank sees global recession in 2009 on consumer pull-back, credit crunch

World Bank sees global recession in 2009 on consumer pull-back, credit crunch originally appeared on BloggingStocks on Wed, 10 Dec 2008 17:45:00 EST. Please see our terms for use of feeds.

Continue reading G-7 summit produces little good news for U.S. dollar

G-7 summit produces little good news for U.S. dollar originally appeared on BloggingStocks on Mon, 14 Apr 2008 08:58:00 EST. Please see our terms for use of feeds.

Philips' Genlyte buy seen pressuring GE in U.S. originally appeared on BloggingStocks on Mon, 26 Nov 2007 11:18:00 EST. Please see our terms for use of feeds.

Continue reading An OPIC to counter OPEC? The time is right

An OPIC to counter OPEC? The time is right originally appeared on BloggingStocks on Thu, 15 Nov 2007 17:00:00 EST. Please see our terms for use of feeds.

Fed's dilemma: Mature economies slowing, emerging markets strong originally appeared on BloggingStocks on Thu, 17 May 2007 11:06:00 EST. Please see our terms for use of feeds.

Last week, the Transportation Security Administration became aware that an employee lost an external hard drive containing employment records of 100,000 TSA employees from January 2002 through August 2005.

Oops.

The data, which included names, social security numbers, dates of birth, payroll information and bank account routing information, among other things, was discovered missing from the TSA Headquarters Office of Human Capital. The names included various personnel and even U.S. Sky Marshals.

I'm not going to discuss how this puts our Sky Marshals, the travel industry and the American public at great risk, but you all know the potential Pandora's Box that was just opened.

While the TSA notified the FBI and Secret Service to help find the lost hard drive, they failed to notify their workers with as much haste.

If you didn't know by now, the TSA, a division of the Homeland Security Department, is responsible for the security of the nation's transportation system, including airports and train stations. The TSA has not yet mastered protecting computer hardware and their employee's private information.

Despite the fact that the TSA claims it follows strict data protection laws and has "zero tolerance for employees not following policies on data protection," they still earned a D in computer security from the House Committee on Oversight and Government Reform. To make things even worse, 2006 was the first year the Department of Homeland Security scored a passing grade.

This past Monday, the Washington Post scolded the TSA and the government saying, "This is getting ridiculous," and "... Uncle Sam's track record is horrendous."

But the TSA is not the only government organization losing things.

• The IRS lost 490 laptops during 2003-2006, many with unencrypted data
  

• The U.S. Department of Transportation lost a laptop with the personal information of 133,000 Florida residents in July of 2006.

• Personal data from 26.5 million U.S. military veterans was stolen from a Department of Veteran Affairs data analyst who took information home last May (The data was later recovered).

• The U.S. Census Bureau and the Department of Agriculture exposed 63,000 farmers to Identity theft last month.

For additional security breaches from the government see here.

It's true that most Americans worry about identity theft. If you happen to be one of the victims that I mentioned above, or fear that your own identity is at risk, Crediteria.com has a great worksheet for you.

Identity theft continues to haunt the American people originally appeared on BloggingStocks on Wed, 09 May 2007 17:05:00 EST. Please see our terms for use of feeds.

It is true that The United States has one thing going for it that no other country in the world can say -- oil has to be bought in American dollars. Because of this one simple fact, there is always going to be demand for the dollar, at least as long as there is a demand for oil, and we can all agree that this world is not going to be oil-free anytime soon.

Continue reading How important is oil to America?

How important is oil to America? originally appeared on BloggingStocks on Thu, 08 Mar 2007 11:35:00 EST. Please see our terms for use of feeds.

As a girl who considers herself hip to the news, from Main Street to Wall Street to pop culture, I'm always on the lookout for trends. And the past few days I think I've spotted one, which I like to call "Too MAD Money." It's a riff on Greenspan's irrational exuberance. Let's look at the factors:

• The U.S. economy has fallen with a thunk off the top of the World Economic Forum's competitiveness survey. Replacing the States from its perch atop the economic heap: Switzerland. The U.S. is now sixth and Switzerland was lauded for its efficient markets and "sound institutional environment."
• This must mean that the U.S. is not, indeed, sound, or efficient. At least, not so much as Switzerland, Finland, Sweden and Denmark. Zoinks! Crushed by those efficient northern Europeans.
• At the same time, the U.S. indices are nearly all-time highs.
• At the same time, the U.S. economy is showing signs of a coming slowdown.
• And then, I read this headline: "Mad Money ... Mad Market." Albert Phung from Investopedia argues that Jim Cramer's famous "effect" is proof that the U.S. market does not behave efficiently. And suddenly, it all makes sense.

It's all Cramer's fault. Well, it's not really Cramer who's causing the irrationality and inefficiency, but his audience and the media types who fuel him. Because of the dozens of web sites who eagerly track his recommendations (as she puts her face in her hands, looking at her own blog), because of the millions who eagerly buy his recommended "Booyah Buys" and sell the ones which "don't have legs." Because of the endless promotion of some testosterone-fueled market-watcher by the CNBC engine and countless others. Because of you, who clicked on this link...

It's all our fault. We did this! Now get out there and buy rationally, people!

U.S. losing competitiveness to Switzerland: is our money too 'Mad'? originally appeared on BloggingStocks on Wed, 27 Sep 2006 17:45:00 EST. Please see our terms for use of feeds.