Category: US

Geopolitics, US

Is It the 1930s All Over Again?

Colin Henderson

A historian sees parallels between the world today and the economic uncertainties and rise of authoritarian rule in the pre-World War II era August 26, 2024 The past decade and a half has seen upheaval across the globe. The 2008 financial crisis and its fallout, the COVID-19 pandemic, and major regional conflicts in Sudan, the Middle East, Ukraine, and elsewhere have left residual uncertainty. Added to this is a tense, growing rivalry between the U.S. and its perceived opponents, particularly China. In response to these jarring times, commentators have often reached for the easy analogy of the post-1945 era to … Continue reading Is It the 1930s All Over Again?

US

Will Harris’s Lead Last? A Few Questions That Will Shape the Answer.

Colin Henderson

By Nate Cohn Republicans have struggled to cast Kamala Harris in a negative light.Credit…Jamie Kelter Davis for The New York Times Kamala Harris has wrapped up an extraordinary month. In that short time, she’s completely transformed the 2024 presidential election. She leads in most national and battleground state polls, and the real-world signs of the enthusiasm for her candidacy are everywhere, from filled-up stadiums to record-setting campaign contributions. All this was hard to imagine before President Biden dropped out, when a majority of Americans had an unfavorable view of her. Her previous run for president did not go well. If anything, her record in national politics saddled … Continue reading Will Harris’s Lead Last? A Few Questions That Will Shape the Answer.

Geopolitics, US

Monocle – Diplomacy | Leila Molana Allen 

Colin Henderson

As the Sudan peace talks falter, the US must find a way to win back the trust of the Global South This week’s US-led Sudan peace talks in Geneva appeared to have lost all momentum before they even began. With so many failed agreements already, mediators had a mountain to climb. Then it became clear that neither side of the conflict was going to show up. The Sudanese Armed Forces had said from the start that they would not attend; their adversaries, the Rapid Support Forces (RSF), had sent a delegation but it refused to enter the negotiating room. Nowhere … Continue reading Monocle – Diplomacy | Leila Molana Allen 

Economy, US

Review of the US economy – Federal Reserve Bank of San Francisco

Colin Henderson

The shifts that must be made before recovery is accepted are nicely summarised here including the required reduction in debt.  Interestingly this comes after a few introductory cheerleading paragraphs suggesting recovery is already here. At the Federal Reserve Bank of San Francisco Community Leaders Luncheon, San Francisco, California As I have been emphasizing, the transition to full employment and the emergence of this new configuration of spending and production, and borrowing and saving, will take time. This rebalancing involves repairs to balance sheets, the movement of capital and labor across sectors of the economy, and shifts in the global pattern … Continue reading Review of the US economy – Federal Reserve Bank of San Francisco

Economy, EU, US

Signs of trouble in the western economies remain for banks

Colin Henderson

Whether its Greece, Portugal and the EU financial issues, or the ongoing housing saga in the US, we are clearly not yet out of the woods relative to the 2008 banking crisis. U.S. Plans to Expand Aid to Troubled Homeowners | NYT The Obama administration will announce on Friday a broad new initiative to help troubled homeowners, potentially refinancing several million of them into fresh government-backed mortgages with lower payments. Technorati Tags: economy,banks,Greece,Portugal,US housing,economic crisis,banking crisis Continue reading Signs of trouble in the western economies remain for banks

US1 Comment

The debt glut and risk to banks

Colin Henderson

The survivability of banks generally is todays topic.  The Greek situation has one possible outcome of contagion across numerous aspects with potential for another economic crisis, despite the cries from many that the crisis is over. This week Brad de Long took issue with Niall Fergusons recent piece (A Greek crisis is coming to America)  wherein Niall highlighted the international country debt crisis was not just Greece, Portugal and Spain, but included the US.  He is one of many US commentators who are becoming increasingly shrill against Niall and others even raising his personal life style as a means to … Continue reading The debt glut and risk to banks

online+banking, US

While twentysomethings – entertainment .. social networking but thirtysomethings – manage finances online | Finextra

Colin Henderson

I am usually suspicious of surveys, but there appears to be a ring of reality to this one.  There is a link to the survey questions, which I found intriguing. Youth and tech savvy not always related – Wells Fargo survey Stephanie Smith, SVP, online sales and marketing, Wells Fargo, says: "There’s so much in the news about social networking but it’s interesting that just 10 percent of respondents said they make social networking a high priority, compared to 65% of those who make their finances a high priority." Technorati Tags: wells fargo,genX,genY Continue reading While twentysomethings – entertainment .. social networking but thirtysomethings – manage finances online | Finextra

Payments, SEPA, US

Non Cash Growth as a barometer of Payment Innovation

Colin Henderson

CapGemini have come out with their World Payments Report – 2009 [pdf 60 pages]. Lots of statistics, but the one that leapt out at me is this. Japan stands out as a growth leader, despite being a mature economy.   Certainly their growth potential is large given the traditional consumer cash economy, but I have to look at the North American lowly 5% and wonder that lack of innovation in payments is not a driver. Certainly there remains lots of cash transactions to convert to payments but nominal innovation in the works to migrate to electronic.  The report notes that cash … Continue reading Non Cash Growth as a barometer of Payment Innovation

US

Abandoned Schools in Detroit | no sign of recovery here

Colin Henderson

I have mentioned more than a few times my belief that recovery is not a return to 2007. The new normal will create damatic shifts and new paradigms for bank planning. Detroit gets picked on a lot …. but these pictures are not pictures of a temoorary set-back. Prepare to be disturbed. This might go some way to explain why houses in Detroit can be purchased for as little as $5K. Abandoned Schools in Detroit Researched by Nobuyo Henderson Continue reading Abandoned Schools in Detroit | no sign of recovery here