- The $586 billion stimulus package from China helped Asian and European markets, but after an initial knee-jerk rally at the open here, we've since sold off.
- China's growth has slow from over 11% to 9%. The Cabinet approved a plan to invest the money in infrastructure and social welfare by the end of 2010, a statement on the government's website said.
- You know, just thinking out loud here, but with all these billions of stimulus floating around the globe, you have to wonder about the eventual inflationary impact. Right now, our Fed seems to be fighting a war against deflation, as Bernanke doesn't want a repeat of the 1930's.
- On the otherhand, real estate values along wtih stock prices have plummeted, wiping out trillions of assets in the US. That money is gone.
- Circuit City ($CC) files for Chapten 11 bankruptcy but plans to stay open for the holiday season. Shares are trading for 11-cents. 11-cents! Holy smokes. I don't think it's the worst thing for $CC to go under. They've been lagging other electronics retailers for years (Best Buy, Fry's), in addition to online vendors. Who goes to $CC anymore?
- $GM shares fall to lowest price in 60 years on cash-burn worries. Shocker. The company has really made bad agreements with the union on employee pensions and benefits, as well as building cars that Americans don't want.
- During the campaign, Senator John McCain warned that Senator Barack Obama wanted to sit down and talk with rogue dictators without preconditions. Sure enough, not even a week after being elected, President-Elect Obama is meeting with the Evil President George W. Bush.
- Will tea be served?
