Posts filed under “Video”
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Steve Forbes, chief executive officer of Forbes Inc. and a former Republican presidential candidate, talks about U.S. President-elect Barack Obama’s top priorities, the possibility Paul Volcker will be named Treasury Secretary and outlook for an economic recovery.
00:00 Obama’s top priorities; Paul Volcker
01:35 Mistakes by the Bush administration
02:10 Potential stimulus package; tax proposals
04:04 Outlook for economic recovery
Running time 05:14
Steve Forbes Likes Volcker as Next Treasury Secretary
Bloomberg, Novermber 5, 2008
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Barack Obama claimed the White House, saying his election as the first African-American president of the United States sent a message that “change has come” to a troubled nation.
“If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer,” Obama, 47, told more than 125,000 cheering supporters in Chicago.
A wave of discontent with Republican rule and the nation’s direction powered the Illinois senator to a sweeping electoral victory over Republican rival John McCain. Obama won at least 349 electoral votes, far more than the 270 needed for a majority and the most for a winner since former President Bill Clinton got 379 electoral votes in 1996.
The results should encourage “those who’ve been told for so long by so many to be cynical and fearful and doubtful about what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day,” Obama said.
Americans spilled out on the streets in cities across the country to celebrate. Almost four hours after television networks called the race for Obama, people were still cheering and honking non-stop in Washington as thousands gathered by the White House, shouting Obama’s name and his campaign slogan of “Yes we can.” Some simply chanted “U-S-A.”
Back to work . . .
Obama Says His Choice as U.S. President Augurs Change
Ken Fireman and Kristin Jensen
Bloomberg, Nov. 5 2008
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Charles Calomiris, a professor at Columbia University, talks about the main tasks facing the next U.S. president, free-trade policy and needs of Democratic presidential candidate Barack Obama should he be elected.
00:00 Top presidential tasks; free trade; Obama
03:40 Outlook for financial markets, banking system
Running time 06:42
Calomiris Says Obama Would Need to Reassure Markets
Bloomberg, November 4, 2008
Jim Rogers, chairman of Rogers Holdings, talks about the U.S. government’s rescue of troubled banks, the outlook for U.S. stocks and investment strategy. NewEdge-Cube Division’s Mark Hawkinson also speaks.
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00:00 Need to allow U.S. banks to fail; Japan
04:02 “Close” Fed and “crisis takes care of itself”
05:54 Strategy; gold; “more problems” for markets
08:34 Investing in oil, agriculture; Treasuries
11:23 Picks: China, agriculture, non-U.S. airlines
12:21 “My plan is to get out of the dollar…”
Running time 13:06
Jim Rogers Says Markets May Go `A Lot Further Down
Bloomberg, November 3, 2008 10:51 EST
Federal Reserve Bank of Dallas President Richard Fisher talks about efforts by the Fed to add liquidity to financial markets, the outlook for the U.S. economy, Fed monetary policy and the central bank’s independence
00:00 “Tight” credit conditions, impact on economy
01:19 “Blocked” credit system, Fed interest rates
02:32 “Irrational fear”; risks to growth, inflation
04:55 Outlook for economy, inflation; deflation
07:29 U.S. fiscal policy, Fed quantitative easing
10:10 Potential to reignite inflation, Fed rates
10:53 Outlook for emerging markets, global economy
12:03 Global financial market regulation; summit
14:08 Next U.S. president’s Fed appointments
14:43 Impact of rescue efforts on Fed independence
Running time 16:18
Tight credit conditions may keep the U.S. economy in a slump through the end of next year, while inflation pressures have disappeared, Federal Reserve Bank of Dallas President Richard Fisher said.
“My forecast is I don’t see any economic growth through 2009,” Fisher said in a Bloomberg Television interview. “The credit crisis reached up and grabbed the throat of the global economy and choked off economic growth.”
Fisher supported the Fed’s decision last week to cut its benchmark interest rate to 1 percent in an effort to revive credit and keep a self-reinforcing decline in consumer spending and bank lending from triggering a global recession. In earlier votes, he had dissented five times because of concern over accelerating inflation.
Plunging commodity prices, including a more than 50 percent decline in the cost of oil, are likely to prompt declines in prices for a few months, Fisher said. Inflation pressures “vaporized” in September as the credit crisis worsened, he said.
Inflation has “screeched to a halt,” Fisher said. “I am not worried about that now. The issue presently is to get the credit system working again.”
Fed’s Fisher Says U.S. Economy May Slump Through 2009
Steve Matthews and Kathleen Hays
Bloomberg, Nov. 3 2008