Entries Tagged 'News' ↓

Quick Note - Sorry for the delay in posting, I had to go out of town on business, and have not been able to get to the computer…This post was written a week ago, but it is an August recap.

Economy Update

Here is a quick, easy to read update on the US Economy based on some of the Economic numbers recently released…

US Economy

US GDP grew at 1.9% annual relate (relatively small)

US Housing continued to drop…it is now at its lowest level since the early 1960’s

Unemployment continued to increase, up to 6.1% unemployed, this is the highest level since September of 2003.

Inflation continued to rise.  The June increase comes in at 3.2% annualized rate.  This is mostly a result of high energy and commodity prices.

The US Dollar however has gained value relative to Europe and Japan.  The dollar is up against the Euro, Great Britain’s Pound, and Japan’s Yen by 8%, 9%, and 5% respectively.

The Blog for Men US Economy Grade for August: C

The blogformen gives the US Economy in August a C.  We figure for August, the economy is the kid in class that is trying hard, studying, but just not able to get over the hump.

Sources: Federal Reserve Bank of Dallas

Flickr Credits: Gaetan Lee

Business

Auto/Airline Troubles - Worldwide airlines and car companies continue to struggle.  Southwest announced it will be cutting up to 200 flights.  Toyota pulled back on it’s sales goals for 3Q and the US Big 3 auto makers are seeking government backed. 

Avoiding Apple - Recently Apple’s iTunes surpassed Wal-Mart as the largest music retailer in the US.  However, some artists are bucking the norm and avoiding iTunes, saying that iTunes hampers album sales by not limiting downloads to full albums and almost always allowing individual song downloads.  Recently, Kid Rock sold 1.7M albums without the help of iTunes. (Read more at the WSJ - subscription may be required)

US & World News

Russia/Georgia Conflict - Fighting erupted between Russia and Georgia.  Read all about it HERE.

Japan Stimulus - Japan is following the lead of the US, creating an Economic Stimulus package…Rather than lump some cash amounts, Japan’s stimulus includes tax-cuts for lower-income families and other acts to help ease the pressure created by high energy and food prices.

Katrina II? - New Orleans had another brush with Mother Nature, as “Gustav”, which fluctuated back and forth between being classified as a hurricane and a tropical storm., brushed New Orleans.  Fortunately, the storm didn’t hit New Orleans to hard, and damage was minimal.

Sports & Entertainment

Olympics - The Blog for Men sees the 2008 games in Beijing as a success.   TV ratings were through the roof, records were broke, and history was written.  Of course, the 2008 games were not without scandal…what with the Chinese gymnasts who looked like they were 11 years old and seemed to be less than four feet tall.   But I digress, in an Olympics that showcased swimming (and eating) for the ages (Michael Phelps), unparalleled speed (Usain Bolt), and an unprecedented opening ceremony…it is difficult to dwell on the negatives.

Instant Replay - Major League Baseball officially instituted the use of instant replay in games.

Dark Knight Dethroned - Tropic Thunder, the comedy starring Jack Black, Robert Downey Jr., and Ben Stiller finally replaced Dark Knight as the top movie at the US box office.

US Presidential Race

Vice Presidents - Both Barak Obama and John McCain announced their running mates for the 2008 election.  Obama chose long-time Senator Joe Biden, and McCain surprised many with this selection of Sarah Palin, the current Governor of Alaska.

Flickr Credits: llawliet, matt.hintsa

First a little background information…

Essentially Georgia and Russia are fighting over two “kind-of” independent countries, South Ossetia and Abkhazia.  South Ossetia is really the main area in the focus of this conflict.   Bear in mind that there has been conflict between South Ossetia and Abkhazia in the past.  South Ossetia has declared its independence from Georgia in the 90’s. Abkhazia forcibly removed all Georgians from their land (raping, massacring, torturing, and murdering along the way.)  In summary, all of these areas are in a bit of disarray, and there is a lot of bad blood.

In trying to break down the Russia vs. Georgia undercard (apparently weight -class is not an issue…as Russia is the CLEAR heavyweight.) My analysis settles on 2 or 3 reasons why we are seeing the issue (3 reasons if you count the first one as 2.)

1. Rocky Relationship/Injured Pride

Basically Georgia was part of Russia then it wasn’t then it was part of the Soviet Union, then it wasn’t.  They have a somewhat rocky history and Russia feels a bit slighted that they lost Georgia and some other republics.   Georgia has also elected a pro-western President (Mikhail Saakashvili.)  On top of this…Russia is also upset that Georgia is trying to become a member of NATO.

It would appear that Russia is somewhat upset that they no longer have control of Georgia, and would very much like to once again be able to tell them what to do.  Vladimir Putin (former president, current prime minister) seems to be a little pissed off.

2. It always boils down to money…

South Ossetia and Abkhazia are relatively valuable pieces of real estate.  South Ossetia for its oil pipelines that run through it. Abkhazia for it’s location as a port right on the Black Sea, and it’s reasonably strong tourism.

Where it stands now…

With both sides basically claiming the other started it, and the other is in the wrong and they are only helping, it is difficult to know whom to believe.  It is in some ways like an argument between 6 year olds.  The US came to the defense of Georgia, probably because when no one in the world wanted to back us in Iraq, Georgia was one of the only places to back us and send troops (2,000.)  With so much bias in media reporting it is really difficult to know who is in the wrong (perhaps all of them????).

There was a cease-fire issued on August 22, 2008 and the action has cooled off since then.  I do believe however, that this is not the last we will hear of this.

Flickr Credits: openDemocracy, onewmphoto