Chevron adding to the Unemployment

Along with others, Chevron Corporations says that they will cut an estimated amount of 2,000 jobs this year alone and will continue reducing its work force through the next year. Not only will this effect the unemployment rate for the nation, but it will increase the production of Chevron. Chevron, being the nation's second largest oil producer, revealed the cuts as it outlined corporate strategy and major capital projects Tuesday in a meeting with a financial analysts in New York, says the Associated Press of Yahoo News. CEO John Watson says due to this decision to lay off workers, this will poise for another decade of growth. The company expects to shift its portfolio toward natural gas and Asia. This will do lots for the economy, effect unemployment, people's demand/needs, and increase inflation due to the increasing investment of Chevron.

The Invisible Hand

Created By: John Cole

Posted on: June 18th 2008

This shows the invisible hand of the economy squeezing every dime out of Uncle Sam. Uncle Sam being us, so the hand wants everything they can get out of us. Even if it breaks something, being the crunch in the drawing.

Supply and Demand

Cartoon by: Eric Allie

Posted on May 1st 2006

This shows supply and demand very well because of what the drawings turn out to be. obviously the people being the demand and the little donut shaped thing being supply. Supply being gas which a lot of people need will make people buy it at whatever price that the item is at. Demand being that there is a lot of demand for things, being the number of buyers, and the small amount of supply, the donut with gas written on it, so the price is going to increase due to the availability of the product.

Higher taxes to be coming

Yes believe it is so. The Obama Administration is setting the stage for sharply higher taxes coming down the road. Yes, higher taxes are coming, and they will hurt. Some say that the tax burden on Americans could double before the end of this decade. Which will give help the national debt, but will make things, if not already, worse for households. More and more people will need to start asking for raises so that they know they will be able to afford their lifestyles. Which will make the dollar value start to decrease. So be prepared, this may be coming soon.

Big problem on the horizon for banks'

There appears to be a sudden interest-rate risk for banks, and some like Howard Atkins, the chief financial officer of Wells Fargo, were warned by a group of American agencies. They told banks that they needed to sharpen up their managment of interest-rate risk. They urged banks to plug a sudden rise of up to about four percentage points into their stress tests. Although this warning has been submitted, and banks are aware, they still choose to keep their rates extrordinarily low for an extended period.

Consumer's spending increasing

Due to the slight growth of some manufacturers, consumer spending seems to be climbing. The U.S. consumer spending has increased slightly faster than expected. It has been increasing for about four months now. This will shift the supply and demand curve, both increasing, demand shifting to the right, supply moving slightly to the left because of the slight growth speed some manufacturer's are experiencing, and the consumer's spending increasing making the demand curve shift.

UK's pound value continues to drop

The United Kingdom's pound value continues to drop from a 10 month low period. Against the dollar, one pound equaled about $1.50, but this year, it is falling below the $1.50 amount, already about a 1.6% drop total this year so far. So the inflation rate for the pound value of the UK is falling significantly. Now things are going to seem cheaper but, the prices have dropped yes, but this will also effect the incomes in each household, making the currency in the UK unchanged.