US Economy

Bailing out the wrong guys

High US unemployment has been exacerbated by homeowners being deeply in debt and owing more than their homes are worth. Photo: AFP

The stuttering growth of the once almighty US economy, especially the sluggish creation of new jobs, is having a profoundly depressing impact worldwide, dragging querulous Europe and even high-flying Asian economies down to earth.

Wednesday, 28 November, 2012, 2:34am

Time the US stopped bashing China's currency policy

Time the US stopped bashing China's currency policy

If Washington were a place where logic reigned supreme and facts always trumped spin, there would be a long pause in the protracted debate over China's currency policy. In the real Washington, that can't be taken for granted.

8 May 2015 - 9:48am

Congress, Obama resume 'fiscal cliff' negotiations

Congress returns from its week-long Thanksgiving holiday today, as lawmakers and US President Barack Obama try to avert a looming fiscal crisis that could send the entire US economy plunging into recession again.

26 Nov 2012 - 4:26am

Talking points

Zhang Zhijun

Strategic dialogue for China and South Korea

26 Nov 2012 - 2:58am

US economy: fiscal cliff or financial pothole?

US economy: fiscal cliff or financial pothole?

In late 1999, the world went into a spin over Y2K, the millennium bug triggered by the arrival of the year 2000, threatening global chaos. In late 2012, investors have the "fiscal cliff" to worry about: a package of US federal tax cuts that expire on New Year's Day 2013, forcing Americans to pay more tax.

26 Nov 2012 - 2:17am

US retailers looking for an edge on Black Friday sales

Free Thanksgiving dinners at a parish in Rockaway. Photo: AFP

US shoppers took advantage of retailers offering a Thursday night start to the traditional post-Thanksgiving holiday shopping season, lining up at stores to get deals on electronics and other items or to just see what the fuss was about.

24 Nov 2012 - 3:14am

Bernanke steps up warning over fiscal cliff

Ben Bernanke urged Congress to act to avoid the 'fiscal cliff' of severe budget cuts and tax hikes in 2013, which he said would throw the US economy back into recession.

US Federal Reserve chairman Ben Bernanke stepped up his warning Tuesday over the looming ‘fiscal cliff,’ saying its mandatory tax hikes and spending cuts pose a “substantial threat” to the country’s economic recovery.

21 Nov 2012 - 4:31am

Smart Money: useful sites for surviving financial Armageddon

Smart Money: useful sites for surviving financial Armageddon

Useful sites for surviving US financial Armageddon

19 Nov 2012 - 1:54am

First 'fiscal cliff' meeting called constructive

John Boehner meets Barack Obama. Photo: Bloomberg

The first face-to face meeting between President Barack Obama and US congressional leaders about the so-called fiscal cliff yielded optimism but few details on how they would resolve their disagreements.

House Speaker John Boehner and White House Press Secretary Jay Carney both described Friday's meeting as "constructive".

18 Nov 2012 - 3:11am

The American Dream and harsh realities

 Obama 2.0 must go beyond rhetoric and discover the ways of political persuasion, or the US will head rapidly to the sunset that faces all empires. Photo: AFP

US President Barack Obama was back to his best form when he made a teary-eyed victory speech to his supporters last week and promised that the best was yet to come, and he would fight for all Americans to create the land of their dreams and of the American Dream.

17 Nov 2012 - 1:17am 1 comment

US on edge of fiscal cliff

Newly re-elected President Barack Obama is expected to strike a bargain with Congress over fiscal policies. Photo: Reuters

After spending a record US$6 billion on the most bitter election campaign, politicians in the United States have resumed their headlong rush towards the fiscal cliff. Both newly re-elected President Barack Obama and House Speaker John Boehner have made conciliatory noises without actually making any bankable concessions.

14 Nov 2012 - 3:20am

Can the US economy survive the fiscal cliff?

A vegetable for fiscal health.

One certainty about life, in addition to Keynes' death and taxes, is that everything changes. And no more so than in the financial environment. For a while everybody was fixated by the problems surrounding the US, then Greece, then concern moved to the PIGS, oh, and let's not forget Europe's banks.

14 Nov 2012 - 2:58am

Property Digest, November 14, 2012

With the improved liquidity resulting from further easing of monetary policy by the United States, investors were keen to snap up office units in Mong Kok.

US fiscal policy helps Hong Kong office sales

14 Nov 2012 - 3:22am

Obama addresses fiscal cliff, warns taxes must rise on wealthy

Barack Obama speaks to reporters about working with Congress to avoid the 'fiscal cliff' in the East Room of the White House, his first public appearance since his election night address. Photo: EPA

US President Barack Obama Friday claimed a mandate to hike taxes on the rich to pay down the deficit, firing his first post-election shot at Republicans in a year-end showdown on debt and spending.

10 Nov 2012 - 3:29am

Obama to make key statement on US economy

US President Barack Obama. Photo: AP

 Newly re-elected President Barack Obama will make a statement on the economy on Friday, the White House said, setting the stage for a showdown with congressional Republicans over contentious tax and spending issues.

9 Nov 2012 - 12:25pm