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In a stunning turn of events, the Canadian dollar is almost the same value as the US greenback. The Canadian currency, nicknamed the loonie for the aquatic bird on the C$1 coin, has enjoyed a continuing rally and has a high likelyhood of surpassing the value of the US dollar in the coming months. (more…)
by Bill Bonner
London, England
We have spent the last few days holding back tears…
Michael Jackson! Robert MacNamara!
And now our heart goes out to Nantucket Island. Word came this morning that
the rich are not living it up like they used to. The New York Times reports
that it’s the slowest summer on Nantucket locals have ever seen. There are
over 600 properties for sale – and none of them are selling. Even at discounts
of up to a third off! Restaurants and bars are offering discounts too – anything
to lure in the customers. (more…)
LOS ANGELES, June 16, 2009 – In its second quarterly report of 2009, the UCLA Anderson Forecast indicates that there is no quick fix for what is ailing the US economy and that it is still “very sick.”
UCLA Anderson Forecast senior economist David Shulman notes that the US Economy will experience “the weakest economic recovery of the postwar era”. The Forecast sees the “tepid” growth of gross domestic product improving from negative growth in the second quarter of this year to nearly perceptible growth in the final quarter. (more…)
