Flaunters, you have the biggest debt.

In a recent article published by BBC, one auther sees that "flaunters" are not seeming so "flaunty" over the past few months. It could be that their expensive and out of means way are finally catching up with them. "People are now understanding they are going to have to depend on each other - employees are deciding to take a day off work without pay, or even a pay cut, to avoid their colleagues losing their jobs - that's kind of a new phenomenon," says Mr Jim Wallis. "A growing number of people are concerned with excess in terms of what they need to live, along with how and why products need to be produced the way they are," Mr Raymond says.
Figures show people are buying less, and also buying products which have a certain integrity.
"Look at sales of local produce in North America, and the revival of interest in corner stores which are now beginning to do better than supermarkets, people not just shopping in terms of value, they are also asking questions about the origin of their foods," he says.
Spending has been slacking in some of households of America's middle class and upper class. People are not spending money on "anything" anymore. More people are going to the library to get books, renting movies (which is good for the soon to be bankrupt Blockbuster),

Obama finally getting it Right

President Obama has said the ression of the economy of the United States is "easing". He also said 2009 would be a hard year for the economy. "There will be more job losses, more repossessions and more pain before it ends", he says. He also talks about how credit firms are seeing a rough time as it is hard for borrowers. This is a good things. Before, many people got themselves into large sums of debt because as Americans, we like to spend what we have and buy materials we do not need. A great example is in LA. When I was visiting a friend there, our other friend made a comment in the car about LA. She asked "why do so many people here have such fancy cars?" My friend from LA replied, "they take out loans, you have to drive a nice car here, LA is all about image". This is a very true statement, now we are seeing these people with expensive amentities they couldn't afford to begin with, in financial trouble. But, as well as the small business owners, who will see tax hikes increase over the course of the Obama administration, will also be affected. I think as Americans we need to stop, look at ourselves, and follow what people of other countries are doing. As for the BMW drivers, BMW's are probably the worst car you can have in Europe because everyone has them, and they are not that well made. So Americans, lets move past this recession with some dignity, return the cars and expensive homes. Just start over, in a more realistic way.

Euro Econ

The economy of the United Kingdom is expected to see 12 to 18 more months of a shrunker economy, down 3.5 % and then expecting another .1% decrease in 2010. 900,000 jobs will be lost this year and another half a million in 2010 says Pete Spencer, who is the cheif economic advisor for the Item Club. He also predicts housing and real estate will continue to suffer over the next few months. Global trade will also decline by nine percent at the end of 2009 he speculates. What does this mean for the world? Well, the United Kingdom, though small, still contributes to the global trade system and network. Americans and other Europeans may find it challenging to work abroad or buy a home in Europe. As the United Kingdoms economy shrinks, so is the United States and other major countries. I think that the our (United States) economy will decline, but, we will see this ression phase out over the next months. Many people do not understand the difference between job losses and economic ressions. They do not necessarily go hand in hand. The job marker may see even longer signs of strengthening, possibly well into 2011.

8,000 POINTS! THANK YOU G-20

THANK YOU G-20
Global world markets have risen after Prime Minster Gordon Brown reveal the new global economic plan conjured at the G-20 summit yesterday and today. The Dow Jones Is up over 8,000 points, the first time since the recession became prominant. London's FTSE 100 index rose about 4% while Germany's Dax index gained 6% and France's Cac 40 rose 5%. US light, sweet crude was up $2.79 to $51.18 a barrel, while London Brent crude rose $2.60 to $51.04 a barrel. "The stock markets are strong and the dollar is weaker. That is also helping the market", says Tony Machacek, an oil broker at Bache Commodities in London. What does this mean for next week and the future? The markets have seen gains the past two weeks. The Dow Jones jumped about 1,000 points in just a months time.

FTSE 100
4124.97up
169.36
4.28%
Dax
4381.92up
250.85
6.07%
Cac 40
2992.06up
152.45
5.37%
Dow Jones
8065.70up
304.10
3.92%
Nasdaq
1615.22up
63.62
4.10%
BBC Global 30
4682.82up
86.91
1.89%
Taken from BBC Business.

Clinton

Taliban

Secretary of State, Hillary Clinton "backed" Afgan talks to hold reconcile talks with Taliban members. She said "We must support efforts by the government of Afghanistan to separate the extremists of al Qaeda and the Taliban from those who joined their ranks, not out of conviction but out of desperation...they should be offered an honorable form of reconciliation and reintegration into a peaceful society if they are willing to abandon violence, break with al Qaeda and support the constitution." Just last week, Obama stated his plan to send 4,000 troops to Afghanistan to help the training of military troops and police.

Global Deal!

http://www.cnn.com/2009/WORLD/europe/04/02/g20/index.html
The world leaders at the G20 summit in London, have put together a 1 trillion dollar economic plan to help the global economy. President Sarkozy of France said the agreement represented "great progress on reform of financial institutions" and "a page had been turned." The plan includes reform of the international banking system and the investment of 1 trillion dollars into the world's financial systems to restore credit, growth and jobs. Also included were measures to decrease tax havens and a commitment to build and develop a greener and more sustainable economy. There are 6 points to the plan. The include the following; restore confidence, growth, and jobs, repair the financial system to restore lending, strengthen financial regulation to rebuild trust, fund and reform our international financial institutions to overcome this crisis and prevent future ones, promote global trade and investment and reject protectionism, to underpin prosperity, and to build an inclusive, green, and sustainable recovery. Prime Minister Gordon Brown of Britain said, "We want to encourage corporate responsibility in every part of the world."