Obama calls Wallstreet bonuses shameful

When CEO are raking in huge amount of bonuses which is equivalent to greed, which in effect is causing untold suffering to so many people who are laid off from their jobs, Obama calls it shameful.

In the Philippines, Intel has laid off 1,600 employees. Where are they going to get the next meal?

Thousands more will be going on the same line.

Read the discussion. Click on colored link.

Understanding the global financial crisis - BBC

The BBC has made a timeline of the global financial crisis.

Click colored link for the article.

Weapons of Mass Destruction - Update

Thomas Friedman, an American writer and critic, says that the Weapons of Mass Destruction has been found and it is in the mortgage subprime and stock derivatives, at its own backyard.

What are you going to do in this global economic crunch?

Individually you can do a lot, by turning off your lights when not needed.

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http://www.iht.com/articles/2008/11/23/opinion/edfriedman.php

Chinese factories, closing, unrest

Article below shows Chinese factories are closing down due to the worldwide economic slowdown.

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http://www.iht.com/articles/2008/11/14/asia/14china.php

Now I know where Iceland is. I didn't know what to say.

This article from the International Herald Tribune tells the story of the great economic crash of Iceland.

It is a country of three hundred twenty thousand people, say we combine seven cities in Metro Manila. Ninety three percent are Icelander.

It is a country where people are getting unemployed by the minute due to their economic collapse.


http://www.iht.com/articles/2008/11/08/europe/09iceland.php?page=2

America needs $2 billion daily to run government

Joseph Impoco tells us that America is not saving while the Japanese does. America needs loans to run its government which is in the figure of $700 billion a year (we only have 365 days a year). America is in deep credit card debt.

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http://www.iht.com/articles/2008/10/19/business/19impoco.php?page=2

View on economic meltdown

Tyler Cohen traces what could have went wrong.

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http://www.iht.com/articles/2008/10/19/business/19view.php

How much is $10.2 trillion?

Do you know how to count up to 10.2 trillion?

http://edition.cnn.com/2008/US/10/12/national.debt.clock.ap/index.html?iref=mpstoryview

Economic rescue plan fails to address problem of 6 million to default house payment

Below are two articles that is related to the Wall street economic meltdown and a woman, 90 years old who shot herself because her house will be foreclosed.

http://edition.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html?iref=mpstoryview

Graphic presentation of BBC on Wall Street's economic collapse

BBC's graphics tells us the figures and the graphs that points to things all going down. The next is to go up, but when?

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http://news.bbc.co.uk/2/hi/business/7644238.stm