When we buy stuff made by people working for slave labor wages in China, we destroy good paying American jobs and we make America poorer. This is a point that I have tried to make over and over.
Wal-Mart often tells one thing to the public and then does another thing in private.
Tag: economy
Bank Order Led to Losing Trades
J.P. Morgan’s Efforts to Shield Itself From European Market Fallout Prompted Disastrous Bets
J.P. Morgan Chase & Co. told traders several months ago to make bets aimed at shielding the bank from the market fallout of Europe’s deepening mess. But instead of shrinking the risk, their complicated bets backfired into losses of as much as $200 million a day in late April and early May, people familiar with the situation said.
Gasoline and heating oil fell
Feb. 10 (Bloomberg) — Gasoline and heating oil fell as commodities retreated on concern that Greece’s bailout was unraveling over German demands for deeper budget cuts and that the region’s debt crisis would spread.
Oil prices, global stocks fall; gold rises
Concerns about the debt crisis have weighed on oil markets in recent weeks, adding to worries about weak US economic data that could hit fuel demand.
“It doesn’t look like the two biggest items were seriously discussed today — the potential for a euro bond and the size of the stabilization/bailout fund,” said Edward Meir, senior commodity analyst for MF Global in New York.
Crude prices dropped before the meeting as data showed sluggish German growth hobbled the euro zone, dragging US stocks. The euro slid against the dollar.
Stocks plunge as economic, Europe worries continue
The Dow Jones industrial average plunged more than 300 points and erased its gains for the year as investors grew more concerned about economic weakness in the U.S. and Europe.