Month November 2008

Letter of Credit problems continue

Buyers of goods are having problems getting letters of credit, without which international commerce can not function. It all goes back to the same continuing problem, that banks don’t trust each other. “Trade finance is the oil that keeps the…

Steve Young will vote No on Prop 8

Not only is Steve Young the former 49ers football star, he is Mormon and a great-great-great grandson of Brigham Young. His wife says “We believe ALL families matter and we do not believe in discrimination, therefore, our family will vote…

Montana now a tossup

Yet another state that should be a slam-dunk for McGrumpy is now at risk. Montana has now been reclassified as a tossup by CNN.

Gloomy Christmas, credit cards, and GDP

It will be a dismal Christmas for retailers. Holiday purchases are often made with credit cards. However credit card companies are slashing spending limits even as consumers are maxing out their cards, with such debt soaring at unprecedented rates these…