To the list of mega-corporations bailed out by the U.S. government, we now must add — Europe. In an announcement that rocked financial markets worldwide, the European Central Bank revealed yesterday a concerted effort in combination with four other major central banks — the Bank of England, the Bank of Japan, the Bank of Switzerland, and yes, the U.S. Federal Reserve — to use dollars rather than euros in an attempt to paper over the European Union’s economic woes.
By erasing burdensome regulations, the oil industry could create one million jobs by 2018 and more than 1.4 million by 2030, according to an analysis released by the American Petroleum Institute (API). The report, prepared by Wood Mackenzie Research and Consulting and funded by API, also projects that oil production could grow by 10.4 million barrels a day and increase government revenue by $803 billion by 2030.
Burdened with economic uncertainty, high unemployment, and a volatile investors’ market, young Americans are desperately seeking job security — while anxiously chasing the "American Dream." The economy simply isn’t what it was when they first entered the job market, or when they were finishing high school or working for their college degrees. The entire economic, financial, and social class system has changed. Indeed, the entire country has changed.
Is President Barack Obama working on a proposal to keep Uncle Sam deeply involved in the mortgage business and taxpayers on the hook for billions of dollars in home loans? The White House says no, the President is merely examining his options. Meanwhile, the Washington Post, based on leaks from anonymous officials, reports that he is indeed looking to maintain the federal government’s outsized role in guaranteeing mortgages.
At a time when each day seems to bring more dire news regarding the economy, Americans have one silver lining: the price at the pump is going down. According to energy experts, gas prices should fall anywhere from 30 to 50 cents per gallon over the next several weeks.