Showing posts with label Economic Crisis. Show all posts
Showing posts with label Economic Crisis. Show all posts

Wednesday, December 17, 2008

Pirates Of the Caribbean..?? Italian Sailors Hunting Pirates This Holiday.

You've all heard of these infamous pirates off the coast of Somalia that hijack major vessels and have tried even cruise ships. Some of these pirates with these busted up boats are actually succeeding at over taking larger vessels on the open seas. A more recent incident was the cruise ship outrunning the pirates on their run down boats. Some incidents included gun fire. Whats amazing to me is how these pirates, who you some times even see shoeless and so unprepared are just able to hijack these massive ships.

Using the word, 'pirate' is not a just term you associate with Jack Sparrow from the movies, there seem to be now the modern pirates who think they're Jack Sparrow. Unbelievable. So, in an effort to stop these want to be hijackers, the Italian military is now out on the open seas hunting pirates for the holiday. In an international effort with other countries, the goal is to stop the pirates and keep the open waters safe. I say, go to the root of the problem in Somalia. I think these men wouldn't be looking to hijack major vessels if they had some stability in their own country or money. Isn't it always about money?

Read the full story here:

Tuesday, December 16, 2008

Can FIAT Out Live Chrysler & GM?

Interesting news this morning about the failing auto industry. Chrysler and GM are waiting patiently for news out Washington on how much or will the government help the cash strapped automakers. Its reported that that the American automakers are now coasting along on cash fumes. It will be any day now that the car giants will run out of money. Incredible. In comparing the car makers across the globe and the steep losses projected all around, one car company, FIAT, is plugging along on losses but still managing to stay afloat with some cash in their account. FIAT has been known to rise from the dead in past years and reinvent themselves. This is the same car company that is the mother to the Lancia, Alfa Romeo, Maerati and Ferrari. So, here it is once again..another financial crisis..will FIAT outlive the US automakers?,0,4779797.column

Friday, December 12, 2008

Is The Media Playing A Major Role In The Collapse of A World Financial Crisis?

This is a debatable topic. I feel like my answer would be, yes. There is no denying the facts of the global financial crisis because the effects are being felt worldwide and especially here in the United States. I think it's one thing to be informed and watch the news networks, but is our constant need for information poisoning our economic choices? What's to say a stock holder sees a report on one of the money reporting networks and happens to see a forecast of negative news about their particular holdings. Whats to say this information is right? Or is it hear say just to create mild panic and catch your attention for a minute during sweeps? What does the investor do? They dump, sell ..whatever the term is...bottom line, if major investors pull out, they break down the stability of the stock system, which then breaks down the stability of the economy --when this happens in masses. (which it has) Kind of reminds me a little of the movie, "Wall Street." We all know its just not the stock market, but everything else in the economy being reported on, whose giving you the right information without panicked headlines and full of ratings BS? Remember television is a business too, they're just trying to survive. If you like panic stricken headlines then they will give you panic. So, is the media creating false panic and a negative economic ripple effect on a global scale?

By the way, all of this matters to me regardless of my age or background. In fact, this should matter to everyone of my age group and background. Its our future, not the corrupt jackasses selling Senate seats like tickets for a Yankee Stadium seat. Ugh.

No Auto Bailout? Could This Be The End of GM & Chrysler?

First reports out this morning are showing the bailout deal might come to a screeching halt. It appears the compromising points are of course salaries and Union benefit cuts. This is huge, if they can't survive the next month, then it looks like there could be a major collapse. Some in the industry have said they were looking at all options such as bankruptcy, but will filing for bankruptcy help those millions of automakers stay employed? I think not. This situation is bad, if you think it doesn't affect you-you're wrong. What happens in this deal, will be the ripple effect for sure, if hasn't already hit you. Unemployment is through the roof, now comes the global impact. I sure hope Obama can handle this monstrous mess. The good news, inauguration day is right around the corner. The last thing is, or question..."How and Why wasn't this revealed last December?" This type of problem doesn't happen over night. Bush better go back to Texas and hide. He is going down as the worst President ever. Sorry supporters. The proof is in the pudding.

Wednesday, December 10, 2008

The Pope Is Praying For The Jobless & Less Fortunate.

Its nice to know the Pope has gathered millions in Rome to conduct a prayer for all those jobless and less fortunate. He urges the world in this global financial crisis to show more solidarity and to help those less fortunate. I love that our Pope can incorporate real issues into the Catholic church, realizing that the financial crisis requires more than money but kindness to everyone. I think this is a great Christmas lesson. If you're unemployed, at least you know the Pope has your back.

Read more here:

Sunday, December 7, 2008

Voglio Fare L'Americano...Sunday Dinner --Part Due.

Today of course is Sunday and once again I am lucky enough to eat Sunday dinner at my parents home. I was happy today because my mother made the sauce with my favorite, porpetti. Oh, just amazing. Then, my father drew wine out of the barrel from the wine we made this past October. Now, the wine is not ready yet but he wanted to test its consistency and let me tell you the consistency could kick your butt. Its definitely strong. Can't wait for it to be completely done.

So, in the course of our dinner today, my father was very reminiscent about his life when he first was married to my mother. They were both saying how they would take trips to the Meadowlands race track, go into Manhattan, and visit with friends. I just think its so funny, that they actually went out and did fun stuff, I mean if any of you know Italian parents, you know its takes a lot to convince them to leave the house or do anything fun.

My father was talking about the times he worked three jobs and had money to do or buy anything for the family. He claims as he says, "volevo fare l'americano." He says there was almost a sense of romance to living, working and engaging in the American lifestyle. His greatest memory is buying his first American car, a Chevy Impala. I guess the vibe was very Frank Sinatra-ish. Everyone wanted to be American.

My father's feelings and opinions were pretty strong today as we also discussed the crashing economy and the declining American pride. I guess the idea of such a great America and the excitement he talks about from when he came to America, made me think.."Do I feel or think that?" I mean, he sounds like he's talking about a time that can never be duplicated. I guess it can't, but I wonder will we as Americans, Italian-Americans ever feel the romance or excitement of a great America again? Its hard to imagine right now, but I will remain hopeful. I'm here because the idea of a great America was real for my parents, so I will do my best and then some to keep that idea alive. Yet another reflective moment about growing up Italian-American.

(pic-My father & me)

Thursday, December 4, 2008

How Can You Find A Job And Pay Your Bills In A Recession?

You might be saying, well how is this relevant to being Italian American, its not--its just about being American. Things have taken a very strange turn in our economy and shades of Great Depression characteristics have shown their ugly head and tons or I should millions of Americans have lost their jobs.

Foreclosures are on the rise and everyone is simply struggling. If you have a job, you might be worried that it could be on the chopping block or just at risk. Either way, everyone is worried. I wanted to post a few resources for those of you in need of help or just looking for a job. Things are tough and the American Dream has taken a back seat in the past year, so remaining positive and having a little faith are our best weapons at this point.

You have to remember people like my father and mother came to this country in pursuit of the American Dream, they got it and we were living it. Now, we must pursue it again and make it come back to its utmost fruition. Lets start by helping each other. Here is a list of job resources that could help you in your search. (The NIAF offers this partnership search through Career Builder)

FYI- Always Google a job title, or city and a combined list should come up of jobs or a site.

ALSO, if you're having a hard time paying your MORTGAGE, or any other bills...there are tons of resources out right now that you can tap into, its worth a try. Click on this link and it will direct you to the best resource article ever.

Monday, December 1, 2008


Not so sure this is breaking news, but it was officially announced this morning by the The National Bureau of Economic Research, that the United States has been in a recession since December 2007. Call me crazy, by why are we learning about everything now? Couldn't this have been avoided, helped, analyzed, whatever...I mean really. We are up the creek that's for sure, and I think the paddles are sold separately.

Get the full scoop here:

Friday, November 21, 2008

Bush Signs Benefits Extension.

With the economy spiraling out of control, some good news from Washington today for those of you (millions of you) who are on the unemployment boat. President Bush signed the jobless benefits extension, which would give unemployed people extended benefits for their already dried out benefits. With the holidays approaching, its a good thing he signed the bill and rushed it to Congress. I know a lot of people in the tri-state area who need this to happen. I guess George is doing something positive on his way out the door.

Tuesday, November 18, 2008

Where Is The Bailout Money???

Ok, so back to politics and money again. I won't rant on the topic, but I do want to say, "where the hell is the bailout money?" I mean, has anyone looked around lately, jobs are flying out the window, no one can pay their bills, people are losing their homes, (really) people can't get their jobs back or anywhere else for that matter. A second economic stimulus package was mentioned, what? Congress is in session for the car bailout, and rightfully so... but I say again, the middle class can not wait for Obama to be in office in January. Government red tape is what they call it I believe, Congress needs to come together and make the stimulus package happen NOW!!!

Why isn't Bush doing more on the way out the door? If you live in the tri-state area, we get hammered on taxes, bills, tolls name it, there's a fee for it. As my father says, pretty soon we will have to pay to use public restrooms. (I think that exists somewhere.) Anyway, we are going down fast and the faith must be resurrected, if Bush wants to salvage whats left of his name in the White House, he should be doing more. The middle-class is taking a nose dive. Sending out an S.O.S

Here's more on the topic:

Wednesday, November 12, 2008

What the Economic Crisis Means For A True Immigrant.

Every time you turn on the television these days or even on the Internet we are overwhelmed with the bad news of the economy and the negative job perspectives out in the working world. I will say I'm hopeful about the future only because now we've elected a new President who will hopefully bring us back to life. This topic was quite heated today when I spoke with my father, who is under extreme disbelief about the current economic situation here in the United States.

He is an immigrant turned US citizen, who came to this country for the very reason he left Italy in the late 1950s. No jobs, no economy, no money. Now, here some 50 years later and he is even worried about his retirement. Now, he's been retired for many years, but he's also faced with increasing costs in his medical insurance, taxes, and bills.

In discussing our worries about the future, one thing he made clear, even though he knows this is a bad time in the US, he has faith. The same faith that brought him to success here in the USA, and the same faith that motivated him to travel two weeks on a ship to an unknown land that would promise him faith in a better life and future. I know things are tough for a lot of people financially, but I guess the moral of this story is to have faith. My father is almost 80 years old, so if he can have faith, then I guess we have no excuse as the younger generation. I think he gave me some inspiration tonight. Thanks Papa.

Monday, November 3, 2008

Happy Election Eve, Let's Discuss How the Italians Are Gearing Up For the American Election.

Well, after writing and talking about the candidates, the election, the issues and the we are on the eve of the 2008 Presidential election. I am truly anxious to see how this turns out, whether its a Democrat or Republican. With the intense economical and military situations occurring within the American government, this election has become and will be one of the most important elections of our time. Not only, are the issues great, but for the first time in history, whether it be Democratic or Republicans, there will either be an African-American President or a woman as the Vice-President. We should be proud that we are in this current moment of history.

In preparing for the elections here in the US, we've already seen high voter surge turnouts in early voting states. This is a clear indication that the American people are ready to make changes. Tomorrow, we will go to our designated voting locations and cast our votes. What will be, will be. I was really quite anxious to know the turnouts in the last two elections, but this time around I will be feverishly checking the statistics online and on CNN. I am truly excited for this final outcome.

In sharing our excitement are the Italians. The Italians know and understand that the outcome of the next elected President is also very relevant to their lives. With foreign policy, military issues, war and the current economic crisis, the outcome of the next elected President will definitely have a huge effect on the European markets and especially in Italy.

With so much excitement brewing here in the states with after parties scheduled for victory on both sides, the Italians have also begun to party plan for their candidate's victory party. For example, the Democrats Abroad have organized a very large result party in Rome. The Americans living abroad have taken a large role in organizing and involving others to participate in this year's election. In an overwhelming show of support, it seems many Italians and many other European citizens have decided that Senator Obama is their candidate of choice. I think its safe to say, whoever becomes President should receive and will receive the support of their fellow Americans. We must remember to keep the cause united and not divided by party. Happy Voting!

Wednesday, October 29, 2008

Maria Bartiromo- Italian American News Anchor Scoring Top Interviews on CNBC.

With the financial markets in such turmoil lately, we are getting to see more of our fellow Italian American financial market anchor on a daily basis. Just yesterday Maria had an exclusive interview with Senator John McCain and Sarah Palin. Her interview was directed with the economy as the number one topic for discussion. As the home stretch for the election is upon us, hard questions and much needed answers are sought, so who better to get the answers in an eloquent manner but Maria. She did a great job interviewing the duo, even though she may not have gotten straight answers.

Take a look at the clip:

Monday, October 27, 2008

American Dream May Be Fading For Immigrants.

With the economy in such turmoil and our stability on rocky ground, the once "American Dream" is slowly fading for those millions of immigrants who came to American is search of a great future. The realization even for illegal immigrants has left them with dwindling jobs and no hope for securing money for their families or their futures. Here is an interesting article about the economy and its results on immigrants here in America.

Thursday, October 9, 2008

The Economic Crisis Trickles Down to Italy.

Its no surprise with the intense economic crisis hitting home here in the United States, the European Markets are now getting a taste of the crisis. Just today, in Italy, Premier Silvio Berlusconi has called an emergency meeting to discuss pro-active measures to help protect the Italian markets. I'm not a financial guru, so its best if you refer to today's USA Today article on this topic. We are not alone.