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Tag: Economy: Page 18

Expert advice on the economy

If you’re trying to understand what’s going on in the economy since the meltdown started, the Boston Globe has a good round up of economic blogs that bring a lot more expertise to the discussion than you’re likely to find in traditional news outlets.

January 7, 2010

Obama speaks, machinery stocks fly

The market in Asia, likes U.S. infrastructure spending. Bloomberg concurs, noting an 11 percent rise at Komatsu. A half hour into the trading day in New York and the Dow is up 200+, in the 8,800 range, and all the construction stocks I chart are trending up.

January 7, 2010

Mining companies slash spending

Some $200 billion in development is on hold for now, due to the global economy and declining metal and materials prices. Anglo American Plc. halted a $45 billion expansion program. Rio Tinto Group plans to cut spending by $5-billion.

January 7, 2010

Wells Fargo 2009 Construction Industry forecast

Released today, the Wells Fargo Industry Forecast is based on interviews with more than 900 construction contracting and distribution executives. These folks always do a great job with the numbers. If your business needs a crystal ball, this is about as close as you’re going to get. Key quote: “While 2009 is shaping up to be […]

January 7, 2010

To finance infrastructure feds should sell land, bonds

As it’s currently conceived the federal government’s proposal to rebuild infrastructure and stimulate the economy is going to be financed by debt spending, which creates the danger of massive inflation, lets foreign countries own an even bigger chunk of our finances and sticks your children and grandchildren with the bill. There are two better solutions for […]

January 7, 2010

Cat cautions against “Buy American”

If you still need any proof that the stimulus bill being debated now in congress is rash and ill-considered take a look at what some are saying about the “Buy American” provision in the bill. Caterpillar spokesman Jim Dugan cautions that such provisions could ignite an international trade war that would be detrimental to every […]

January 6, 2010

Construction workers picket Caltrans

California Department of Transportation announced it was suspending up to 100 construction projects, prompting a protest outside of the office of state senate leader Darrell Steinberg. The state is currently $42-billion in the red, despite having some of the highest taxation rates of any state in the country. To give you an comparative idea of how […]

January 6, 2010

A better stimulus plan

For once the New York Times gets it right. Key quote: “All you need to do is grant visas to two million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will […]

January 6, 2010

Cat workers reject Obama stimulus message

During his visit to Peoria yesterday President Obama urged Caterpillar workers to call their area congressman and encourage him to vote for the stimulus bill. Guess what happened? Not a single one called republican Congressman Aaron Schock in favor of the bill. However 1,400 Cat employees did call Schock — urging him to vote against it.

January 6, 2010

Are home prices too high?

According to this chart of the relationship between income and home prices, they are absurdly so. Nothing the government can do will get the housing market moving again until this ratio is brought back to reality.

January 6, 2010

TARP funded bank won’t lend for construction project

Despite having received $297-million in Troubled Asset Relief Program money, this bank in Santa Maria, California, is refusing to lend money to a large commercial project already underway and to contractors it had lent to before. The purpose of the TARP was to help banks start making loans again.

January 6, 2010

Economy may put your suppliers at risk

A word to the wise: In tough economic times you have to guard against all kinds of possibilities that didn’t exist when business was booming. In particular you may want to review the economic health of your suppliers. This is especially true if these are suppliers of mission-critical construction materials. It doesn’t matter how solvent […]

January 6, 2010

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