EU cuts economic forecasts
BRUSSELS: The European Union cut its economic forecasts for the next two years Friday, saying oil prices and turmoil in financial markets brought on by the subprime mortgage debacle in the United States would significantly cut growth.
A U.S. housing slump, higher credit costs and oil prices close to $100 a barrel are all weighing on the European economy. As the euro appreciates to new highs and growth slows in the U.S. economy, those factors may sap demand for European goods, further curbing growth.
Sign me up! I'll take the euro at any price! (Well, maybe not.)
No dark sarcasm in the classroom
No Mark, the Euro is yesterdays news todays hot investment is this.
ReplyDeleteThere's a real estate boom happening in communist Vietnam, where prices are soaring on properties yet to be built and investors are camping in the streets to get first chance to buy.
Western-style suburbs and apartment blocks are sprouting up, driven by more than 8 percent annual economic growth and a stock market that has given investors ready cash to spend.
Realtors say the pace is so hot that supply cannot match demand, which is sending prices zooming off the charts -- no mean feat in a country where per capita GDP is under 1,000 US dollars.
"Prices have doubled in 12 months, nearly tripled in some cases over the past 18 months," said Brett Ashton, managing director of Savills Vietnam, a property services firm.
http://www.iii.co.uk/news/?type=afxnews&articleid=6383938&action=article
I use to think it was just Americans were stupid but I guess it's a global curse.
Tell me this isn't going to end bad.
Kevin
New York is one of 11 states where workers like Rivera -- not day-care center employees or nannies but child-care providers working out of their own homes -- are permitted to unionize. Organizers argue improving conditions for these poorly paid workers will translate into better child care options for working parents.
ReplyDeleteThe lopsided pro-union vote during September and October -- with 8,382 workers voting to join the United Federation of Teachers, and just 96 voting no -- was hailed as the largest successful unionization campaign in the city since the 1960s.
"Finally we have a voice and a place to go for support," Rivera said at a union victory rally last month.
Not everyone applauds unionization for home-based child care workers. Mayor Michael Bloomberg opposed the idea, which he said could cost up to $100 million a year in increased wages and benefits.
http://www.iii.co.uk/news/?type=afxnews&articleid=6384012&action=article
Uh Oh
Tell me this isn't going to end bad.
ReplyDeleteThis isn't going to end bad.
Next up, would you like me to say it with conviction (or with convictions)? ;)
The lopsided pro-union vote during September and October -- with 8,382 workers voting to join the United Federation of Teachers, and just 96 voting no -- was hailed as the largest successful unionization campaign in the city since the 1960s.
Those crazy British! What will they think up next? 8,382 to 96? Surely we could sway those few remaining holdouts over by getting the next union contract tied to the price of oil.
My bad!
ReplyDeleteThat's in New York! I got distracted by the "uk" at the bottom. Uh oh is right.