Word: hardes
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...Capitol Hill on Thursday, Tim Geithner sent a little thrill up the leg of all the American trade unions that worked so hard to get Barack Obama elected. The Treasury Secretary-designate - whose appointment, despite his embarrassing tax travails, was waved through to the full Senate yesterday by the Finance Committee - declared in a written statement to the committee that China was guilty of "manipulating" its currency for trade advantage...
...beyond tougher rhetoric, is the new Administration really likely to get tough with China on trade, as so many union supporters of Obama hope? Unlikely. In fact, it's hard to think of anything business and investors on both sides of the Pacific would welcome less right now than a U.S.-China trade rumble. Both countries are in the midst of serious economic pain, which trade tensions would only worsen. There are enough comparisons with the Great Depression out there already without dredging up the memory of Smoot-Hawley, the 1930 legislation in the U.S. that put a tariff...
...does not keep statistics on Ponzis, according to John Heine, SEC deputy director of public affairs. "There are too many variations," he says. "It's hard to categorize a Ponzi vs. a pyramid scheme vs. something else...
...editorial board will ratify any appointments, which are predicted to include Geordie Greig, currently at the helm of snobby glossy British magazine Tatler, as editor. Such a choice wouldn't signal an emphasis on hard news but an advisory board full of big hitters could certainly help to open doors. Names reported to be in the frame include Gorbachev and Tony Blair. His priority, Lebedev told a hastily convened press conference in Moscow, is to ensure the Standard's survival. "I don't want it to be said that some Russian idiot and former spy came along and bought...
...Market sentiment during the last few Years of the Ox has, in fact, been more bearish than bovine. In 1997, Asia suffered a financial meltdown, while in 1973 the world was ravaged by oil shocks. Year of the Ox almanacs sold in Shanghai subways counsel patience and hard work in order to overcome 2009's potential market woes. Both virtues are considered attributes of those people born under its symbol. In fact, one of the leaders on whom the fate of the global financial system may well depend was born in a Year of the Ox: Barack Obama...