Despite the news that the US economy is now on its way to recovery, Timothy Geithner warned that this year is still one of those difficult periods. During a congressional hearing, Geithner said that the effect of the financial crunch may last for a long time. On a more positive side, the Treasury Secretary of... Read More »
There are now drafts being made on the G20 Toronto communiqué which aims to lower the deficits, hoping that a back-to-back recession would not happen. Canada indeed became successful in recovering from the previous recession. However, one of the market watchers said that the recent recovery efforts will not be spoiled especially now that United... Read More »
Despite agressive discounts from major automakers U.S. automotive sales dropped 41% in February, the lowest level for the month since 1967. General Motors experienced a 53% percent drop in sales while Ford dropped 48% in February, Chrysler posted a sales drop of 44%. These sales figures close the 16th consecutive monthly drop in auto sales... Read More »