All Posts Tagged With: "great depression"
Today’s Ebook – Causes and Effects of the Lehman Brothers Bankruptcy
Chris McClelland | RSS | Tue, Nov 17 2009 | 0 CommentsToday’s featured ebook download is Causes and Effects of the Lehman Brothers Bankruptcy (123 KB, 26 pg) – I argue that the demise of Lehman Brothers is the result of its very aggressive leverage policy in the context of a major financial crisis. The roots of this crisis have to be found in bad regulation, lack of transparency, and market complacency brought about
by several years of positive returns. Lehman’s bankruptcy lead to a reassessment of the risk, in particular in the market for credit default swaps.
What you can learn from this ebook
The demise of Lehman Brothers can only be understood within the context of the current financial crisis, the biggest financial crisis since the Great Depression. The roots of this crisis have to be found in bad regulation, lack of transparency, and market complacency brought about by several years of positive returns. I will start by explaining these three roots and then I will discuss how Lehman contributed to its own demise and what the consequences of its filing for bankruptcy are.
To download this ebook, or any of our current ebooks, please visit the ebook page where you may choose the ebook(s) you wish to download. *Download an ebook by clicking on it’s title.* Related posts:
CIT files for bankruptcy
Tags: financial crisis, filing for bankruptcy, credit default swaps
The Job Market is Quite Tough.
Jennifer McClelland | RSS | Sat, Oct 10 2009 | 1 Comment
There are millions out of work right now and there are fewer and fewer jobs available for those who are looking or work. Data that was released by the government on Friday showed that the recession is worse than it has been since the beginning of the recession right now.
It’s only expected to get worse because companies are still not hiring and most have no plans on creating jobs to start hiring.
It is so difficult to be unemployed right now because there are about 6.3 people applying for every one job opening. In comparison, when the recession officially began in 2007, there were only 1.7 workers competing for every one job opening in the united States.
Since the beginning of the decade, the largest amount of people who were competing for one job opening was in July 2003, when 2.8 people were looking for every one job opening.
From the beginning of the recession, employers have cut over 7 million jobs. Even though there are fewer and fewer job cuts with each job and unemployment report, there aren’t any jobs being created. Job creation is essential for the health of the economy.
So, people with jobs are feeling a bit more safe when it comes to their jobs. Job security can be priceless, but for those that were laid off or have found themselves unemployed, it is still quite difficult to find work.
It is, of course, more difficult to find work in some areas than others. Jobs are being created in some areas of the country, but there are other parts of the country that barely have any jobs available and are losing them much faster than they’re making them. The more industrial a town is, particularly in this recession, the more that town or county hurts it seems.
Hopefully, the job market will get a bit better sometime soon.
Related posts:Unemployment rate increases to 10.2%
A sign of the times – GE Gets 10,000 applications for 90 job openings
Tags: unemployment, Employment, government
Pop culture featuring the Recession
Jennifer McClelland | RSS | Fri, Jul 24 2009 | 1 Comment
It looks like the recession has made its way into pop culture. HBO has a new series called “Hung” and in its premier recently, it showed scenes of Detroit factories that were abandoned and had a voiceover talking of how the city has now fallen. The series focuses on a man named Ray Drecker, a guy that many can relate to these days.
Drecker was a star athlete in his younger days and is now having a hard time; he is divorced, behind on bills, and lost his job as a high school football coach because of some budget cuts the school had to perform.
The recession is going into its second year and the economy has found its way into pop culture; movies and tv shows have altered their scripts to put the tones of the recession in the stories. Also, plenty of books are offering frugal ideas and tips.
Long running tv shows like the Simpsons have also started talking about the recession. In one episode Homer and Marge have to sell their house because their mortgage payment had gone through the roof. On 30 Rock the characters had to deal with budget cuts. Even the kids from South Park had to learn a lesson about the recession.
Barry Ritholtz, author of Bailout Nation, said, “On the one hand, it’s good when it becomes part of popular culture because people are talking about it and thinking about it, But on the other hand, it’s bad when people are obsessing about it to the point of absurdity.”
In past downturns, the recession has been a way to escape from the problems, but this time, it seems as though pop culture wants to immerse itself in the current situations everyone is facing.
If you look back to shows like Dynasty, in the 1980’s the show was very popular and featured people with a very flamboyant lifestyle where they would flaunt their money. They also thrived during the 1980’s recession.
During the Great Depression big musicals also became very popular.
“If you’ve got a loved one dying of cancer, you may not want to watch, as your entertainment, movies of loved ones dying of cancer,” Thompson said.
I don’t necessarily enjoy watching people suffer in a recession, but I do really like to know that other people, even those in television shows, feel the same way that everyone else does. It makes me feel like Hollywood is connected to the real world and that at least the writers understand what is going on with the average American.
Art is supposed to imitate life I thought. This would be the best way to do so. People want to find solace, this is not a cancer.
Related posts:Pop Culture’s Lessons in Recession
5 things the recession put an end to
Tags: tv show, mortgage, music
Today’s Ebook – How Goldman Sachs Pumped and Dumped the U.S. Economy
Chris McClelland | RSS | Tue, Jul 07 2009 | 0 CommentsToday’s featured e-book download is How Goldman Sachs Pumped and Dumped the U.S. Economy (499 KB, 27 pg) – From tech stocks to high gas prices, Goldman Sachs has engineered every major manipulation since the Great Depression – and even worse they’re about to do it again.
What you can learn from this booklet
The bank’s unprecedented reach and power have enabled it to turn all of America into a giant pump-and-dump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere – high gas prices, rising consumer-credit rates, half eaten pension funds, mass layoffs, future taxes to pay off bailouts. All that money that you’re losing, it’s going somewhere, and in both a literal and a figurative sense, Goldman Sachs is where it’s going: The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth – pure profit for rich individuals.
To download this e-book, or any of our current e-books, please visit the ebook page where you may choose the e-book(s) you wish to download. *Download an e-book by clicking on it’s title.*
Related posts:
Today’s Ebook – Phishing and Pharming: Helping Consumers Avoid Internet Fraud
Tags: e book, consumer credit, mass layoffs
Harley is also facing financial hardships
Jennifer McClelland | RSS | Sat, Apr 25 2009 | 1 CommentHarley-Davidson is also facing economic hardships. The company is having to take measures to insure its viability. Harley annouced that it will be cutting 1,500 jobs over the next two years and consolidate factories.
“As you know, 2008 was a challenging year,” said James Ziemer, who is retiring as Harley-Davidson Inc.’s president and chief executive officer May 1. “There’s no doubt our durability is being tested by one of the most challenging economic times since the Great Depression. We take our stewardship of this company very seriously. As a management team, we’ve been quite determined to make what we believe are wise choices in the short term that will give Harley-Davidson long-term success.”
The shareholder meeting was full of people who weren’t thrilled about the news, but everyone understood that if the company wanted to weather this financial storm then certain measures have to be taken.
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Why do we marry our financial opposites?
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Tags: financial storm, financial hardships, harley davidson inc
