I swear Merrill just wrote down $9.4 billion and sold its stake in Bloomberg two weeks ago. So why are they in the news AGAIN writing down another $5.7 billion? It’s frightening to think this company is still a going concern. The company has written down more than the $42 billion it [...]

For someone like me who flew nearly 150 flights in 2007, airport lounges are great bonus. Kicking back at Toronto’s Pearson airport with all the free Molson you want makes airport delays doable. And the children’s room with near sound-proof walls? You have to love that.
But, now another perk of business flying [...]

This may be the scurrilous and disreputable Fox News, but it is still funny.

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IMF sees no end in sight to credit crisis – FT
BBVA boosted by expansion in U.S. and China – FT
Former Google engineers unveil new search engine – Financial PostCommodities such as oil could be the latest bubble about to burst – Roger Bootle, Telegraph
U.S. to post record-high budget deficit in 2009 – Market Watch
Hostile bids [...]

Canada is one of the last bubble markets to hit the wall. Buoyed by the commodities boom in the west, Canada looked set to keep on an upward path even while its largest trading partner, the U.S. had already started to see a bust. But, evidence of the housing slowdown is everywhere in [...]

I fully anticipate this will happen, so the question becomes: what will the Fed do?
The FDIC stepped in at two banks over the weekend, 1st National Bank of Nevada and First Heritage Bank. These banks failed as a result of construction loans in real estate bust regions of the US. No, surprise there. [...]

“The Economist” has developed the Big Mac Index as a way to determine if currencies are overvalued or undervalued. The thought is that a McDonald’s Big Mac being pretty much the same everywhere around the world, one should expect the cost to be the same as well.
Of course, this is never true [...]

Given my recent prediction for a positive GDP number in Q2 for the U.S. and after another positive number from Q1, how could I maintain that the U.S. is in recession?
It’s simple. The commonly-held version of recession is misguided. Most people use the rule of thumb of two quarters of negative GDP to [...]

With 2008 now half over, it’s obvious that the global economy has lurched to the downside. While many have remained unrealistically optimistic about the workout of the present credit crisis, downside risks have been the determining factors in keeping things soft.
Where are we headed?
I’d like to answer that question with my top ten predictions [...]

In reading about profit increases of some U.S. multinationals due to robust overseas business and the weak dollar, while the U.S. economy faces a protracted downturn, it has occurred to me that the divergence between U.S. worker and business interests has reached a critical juncture. Before globalization, most U.S. companies earned their business in [...]