My 2 cents:Wanted: Political Leader with some financial sense!

Well we are now just 32 days away from Christmas and with the current economic climate that seems more like a nightmare than something to be happy about.

Although i know the economic statistics dont full you with cheer but what really depresses me are the current crop of political leaders oh dont think i beating up gocernment i dont think any of the main opposition partes around the world are much better either.

Consumer confidence is at rock bottom and this is why i think we need real political leadership. If we had a leader who just stood up and said A,B and C went wrong so we are going to do D,E and F to fix the problem that would help solve the problem.

This i know is a very simplistic way of looking at the crisis but our main problem is people are scared to spend. if the leaders of the world were able to get ahead of events people would be abit more confident which would lead to them spending abit more in the shops.

Whatever comes from this crisis im sure it wont be a leader. We are currently seeing leaders who are more interested in claiming credit for solving the financial crisis than actually doing something big to get us out of it.

UK Inflation rate falls

The Consumer Prices Index (CPI) measure dropped to 4.5% from 5.2% in September.

Well some good news today. A drop in inflation due to food and oil prices falling has resulted in todays fall.

BUT this has its downsides, Low inflation is a very good thing but deflation is can do great harm to the economy.

Gordon Brown has warned about this very problem and he is likely to annouce some increases in spending and small tax cuts in order to stop this problem of de-flation.

Quebec Votes- December 8th 2008

Quebec Premier Jean Charest called an early election in Quebec not long ago. In 2007 his Liberal party lost there majority in the national assembly and now with his rising popularity he is rolling the dice and going to the province in the hope he will achieve a majority.

What interests me about this election is not who will win, i think its pretty much accepted that the Liberals will come out on top but the battle for second place is fierce. For those of you who don't follow Quebec politics, in 2007 the Parti Quebecois was pushed into third place by the ADQ.

This event sent shock waves throughout Quebec and Canada, the status quo had be ripped up no longer was Quebec a two party system there was a new gang in town ready to focus on others issues instead of just the constitution and separation.

Now, politics is a funny business because the ADQs support evaporated since the 2007 election. In this Minority government the ADQ has been outflanked by both the Liberals and the PQ. The Liberals seem more effective in government and the PQ are seen as more effective in opposing the government. Quebec politics has never been dull, some of Canada's biggest political figures have come from this fine province and just when Canadians thought sovereignty was off the agenda, Quebecers throw a new reason to be captivated on to the fire.

Mr Charest will probably win this battle but who will be on the opposite of the battlefield at the next election.

CitiGroup to cut 75,000 jobs.

Source BBC

It has been annouced that CitiGroup will slash 75,000 Jobs.

Citigroup has lost more than $20bn in the past year because of the global financial crisis.

More bad news from the banking sector. Can the situation get any worse.

New Gadgets on the blog

We now have a Gadget ill tell you the current price of Crude oil. Thats on our side bar

Also at the bootm of the Blog we have a news ticker giving you the most up to date headlines from CNN.

We also have the latest news from the Canadian Broadcastiong Corporation, on our side bar.

I will keep looking for more ways to improve the blog, please feel free to send any comments of suggestions to me.

Oil Prices and Currency values for Today.

As of 10.13am BST-5.13am EST

Crude oil- $56.09 (-0.95)

1 Euro- 85pence (GBP)

1 GBP- 1.17 (Eur)

1 GBP-$1.47 (USD)

1 Euro-$1.25 (USD)

My 2 cents: Global Economic Meltdown

Call in the Calvary we now have another victim of the Global meltdown, Japan the worlds second largest economy is now in recession.

This news is not surprising but it gives us cause for concern, i am starting to wonder if there is anyway way out of this recession.

We see our world leaders running around Washington, slamming big bonuses and corperate greed all the while before this crisis came about these same world leaders were happy to allow these Bankers to lend sub prime mortgages to people who cannot possibly pay them back.

These are uncertain times, we have in the USA a president with one foot out the door along with unemployment in the UK projected to reach 3 Million by 2010. I honestly doubt the capacity of our current crop of leaders to deal with this crisis effectively.

The simple fact is the boom times we have all enjoyed for the past decade is now over, so we as a collective people must now tighten our belts and realise that this recession will be long and tough, it will certainly be a very dull, cold winter this year.