Sunday, June 22, 2008

It seems like even rappers are facing economic times

Recently this taped phone conversation between rappers 50 cent and Young Buck has been release on the net:

This conversation was taped by 50 cent, Young Buck was the guy nearly in tears because he was in financial trouble. Yes it runs against hip-hop’s image of being hardcore thugs but having money problems is stressful for anyone.

Now unlike many Americans right now a big part of Young Buck problems is that he was living a life style he couldn’t afford…actually that might actually be a lot of American’s problem right now (or at least it was one of the factors)

And going by this taped phone conversation Young Buck’s problem are similar to many other peoples.

Young Buck was not working enough and his expenses that he need to pay off where still coming in.

A lot of people are having hard times finding work or those lucky enough to have job are still not able to get enough hours to fully pay off their bills.

Young Buck seems to borrowed a loan from 50 that he can’t pay back right now (or when ever this phone call happen)

Many people are in debt because they either borrowed money out of their homes or due to over use of their credit cards.

Luckily for most of use we are not friends with 50 cent so we don’t have to worry about him posting us talking to him, when we are at are lowest because we facing these money problems, for the world to hear.

Wednesday, June 18, 2008

Royal Bank of Scotland expects big economic crashes

the Roy Bank of Scotland has been telling it's clients to expect some bad economic news in the near future.

They expect the American Stock market to go down by 300 points by September.

and the credit market isn't going to do better as corp. bonds rise.

add the raising prices of food and oil, with the increase of joblosses and we maybe in a perfect storm.

RBS says the smart thing to do is keep cashm (euros?) in hand and don't quit your day job

Saturday, June 14, 2008

Its the economy stupid

As I am sure you all know it another election year in the America and yet again one of the biggest issues on everyone minds is the economy.

This year the person who enters the Whitehouse could have a big effect on the economy. Not only am I talking about the fact that they can try an push whatever their policies are but because 4 or the 7 seats on the Federal Reserve board are open.

And so right away the next president of America could appoint people into positions to make changes.

And on their second term the prez can change the head of the fed.

So the question us voters need to ask are selves is will McCain be big enough maverick to go against the status quo of economic legacy passed down from Bush and will Obama give us the economic changes we need right now?

Friday, June 13, 2008

Cuba changes is wage policy

Cuba's Ministry of Labor and Social Security has recently stated a change in the policy that guides how people are paid in Cuba.

before everyone was paid the same wage as long as they meet a production goal, but now Cuba has introduced an incentive program.

but now if you meet or surpass the stated goal you will now earn bonus pay.

if you just meet the goal you will only get a 5% bonus. but If you surpass the goal you may earn as much as a 30% pay increase.

The reason for the change is that Cuba wants to increase productivity and production quality.

I notice more then a few people in the news or on the blogs stating that Cuba is moving to capitalism. thought this might end up being a step toward that I don't think it means that Cuba will become a fully capitalist country.

which is OK, I'm not one of those people that think every country should fallow the same economic system that we are using.

I do think what this does is take one of the good (well sometimes good) effects capitalism IE using money to motivate people to do work.

Friday, June 6, 2008

economy still in the tank!!!

I would like to report good economic news some day but this isn't the day

the labor department has released it's may report and it has some really bad bad that there isn't a way from to try to put spin on it.

One of the most shocking things that is in the report is....

The number of unemployed people grew by 861,000 — to 8.5 million.

my god how did unemployment jump so high!!!

but that's not all

dow johns drop 400 points

324,000 have been lost this year

the slightly good news of the fact that average wage is up (but only by .03%) is over shadow by the fact that due to raising food and gas prices people are in fact facing wage cuts if they want to spend the same amount on food and gas as they did in the past.

can you imagine losing over a million dollars in less then 2 hours?

I don't think many people can but amazon's site was down for about an hour and a half and that is the expected amount of money they lost in business transactios during that period and the fall of there stock price.

I can understand the lose of sells but every site has goes down form time to time, and I think it's a little sad (and funny) that so many stock investors ran around like their heads cut off in a panic of amazon not doing well.

Monday, June 2, 2008

horror after $200 oil

Macleans has an article (horror story?) up talking about what will happen if we reach $200 for a barrel of oil.

in a scary world that maybe coming to us soon the rise in oil prices will effect modern society to its core.

a few of the horrors they predict that might happen...

the gas of fuel cause the airline industry to shrink to nearly a 10th of its current size.

sky rocketing prices on ALL goods.

people spending more then half their weekly pay just to feel up there tank.

basically will just cost to much for people to go to far away from there cities and towns.

in some ways it might almost like going back into a time before cars and planes. But instead of not going to far form home because of time restraints, we live in our little worlds because it would cost to much to say go across the country on vacation.

and some areas of course will feel this worst then others. the future you are away from farms the higher the cost of food.

But one also have to look at the fact that the suburbs are dependent on cities for things like jobs. And in a world where it cost more to get to work then what you make, the burbs are going to have to become more self sufficient or turn into ghettos.