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| Cartoon by Sacrava (on the web at http://politiktoons.blogspot.com and also at http://sacrava.blogspot.com) |
Showing posts with label US economic crisis. Show all posts
Showing posts with label US economic crisis. Show all posts
Saturday, September 10, 2011
Polititktoons No. 176: Jobs Plan
Friday, July 29, 2011
Politiktoons No. 171 : "The Debt Ceilling Deadlock"
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| Cartoon by Sacrava (on the web at http://politiktoons.blogspot.com and also at http://sacrava.blogspot.com) |
Friday, June 12, 2009
Politiktoons No. 86: Government Motors
Cartoon by Sacrava (on the web at http://sacrava.blogspot.com)Wednesday, June 03, 2009
Wednesday, February 04, 2009
Car Sales Hit By Financial Crisis
Mouy Chomreun at his garage. (Photo by Stephane Janin)By Stephane Janin
VOA Khmer, Washington
03 February 2009
Click here to view the AUDIO SLIDESHOW in ENGLISH, by Stephane Janin
Click here to view the AUDIO SLIDESHOW in KHMER, by Stephane Janin
Click here to view the AUDIO SLIDESHOW in KHMER, by Stephane Janin
Like many Americans, Mouy Chomreun is struggling under the current economic downturn. Born in 1957, he has lived in America since 1975 and now has three businesses: cars sales, car maintenance and taxi rental.
Each of these is suffering, as customers are staying away from his garage and services. His car sales and repair businesses have fallen off 80 percent over last year, he said.
"Compared to last year or the year before, my businesses for renting cars and taxis is normal, but my auto mechanic business and my car sales business have decreased so much," he said, adding that he planned to stop selling American-made cars and start selling those made in Japan, such as Toyota.
His wife, Evelyn, meanwhile, has quit her own job to help make the businesses work, and both of them say they are confident they can weather the storm.
Each of these is suffering, as customers are staying away from his garage and services. His car sales and repair businesses have fallen off 80 percent over last year, he said.
"Compared to last year or the year before, my businesses for renting cars and taxis is normal, but my auto mechanic business and my car sales business have decreased so much," he said, adding that he planned to stop selling American-made cars and start selling those made in Japan, such as Toyota.
His wife, Evelyn, meanwhile, has quit her own job to help make the businesses work, and both of them say they are confident they can weather the storm.
Tuesday, January 27, 2009
US-Cambodians Watch as Obama Takes Office
By Taing Sarada, VOA Khmer
Original report from Washington
26 January 2009
Original report from Washington
26 January 2009
Americans watched Barrack Obama become the 44th president of the United States last week, and some of them said they had new hopes for the US economy, as well as national and global security.
Jeffrey Sdoeung, a Cambodian-American from the state of Rhode Island, said he traveled for 10 hours in the bitter cold to watch the Jan. 20 inauguration.
"Our country is facing difficulty now, including money and jobs," he said. "It is all very difficult, but after I heard Obama's speech, I have a lot of hope, because now we have one wonderful president, who can help people and other countries around the world."
Sdoeung said he was attending his first inauguration and was surprised to find millions of people from across America gathered on the National Mall in front of the US Capitol building.
"I have never seen as many people as this," he said. "On the morning of Inauguration Day, I traveled from my friend's house in DC by Metro train to the National Mall…and I saw so many people filling the train, it was amazing."
Grant Quinn, another Cambodian-American, from Washington, had not traveled as far as Sdoeung, but he said he too had more confidence in the US economy after hearing Obama's speech.
"Now the American people have lost a lot of jobs, but I think that Obama has his own program to provide more jobs to people," he said.
He had not attended the inaugurations of former president George W. Bush, he said.
"When I was young, I went to see the inaugurations of Jimmy Carter, Ronald Reagan, George Bush, Sr., and Bill Clinton," he said. "But I did not go to see George W. Bush's inauguration, because I didn't like him."
Vutha Chinn, who lives in Philadelphia, said he felt happy on behalf of Khmer refugees who had come to a land of opportunity and were now able to participate in events such as the inauguration.
"I am very grateful to be able to participate in and applaud Obama's inauguration and support his success in becoming American's president," he said.
Jeffrey Sdoeung, a Cambodian-American from the state of Rhode Island, said he traveled for 10 hours in the bitter cold to watch the Jan. 20 inauguration.
"Our country is facing difficulty now, including money and jobs," he said. "It is all very difficult, but after I heard Obama's speech, I have a lot of hope, because now we have one wonderful president, who can help people and other countries around the world."
Sdoeung said he was attending his first inauguration and was surprised to find millions of people from across America gathered on the National Mall in front of the US Capitol building.
"I have never seen as many people as this," he said. "On the morning of Inauguration Day, I traveled from my friend's house in DC by Metro train to the National Mall…and I saw so many people filling the train, it was amazing."
Grant Quinn, another Cambodian-American, from Washington, had not traveled as far as Sdoeung, but he said he too had more confidence in the US economy after hearing Obama's speech.
"Now the American people have lost a lot of jobs, but I think that Obama has his own program to provide more jobs to people," he said.
He had not attended the inaugurations of former president George W. Bush, he said.
"When I was young, I went to see the inaugurations of Jimmy Carter, Ronald Reagan, George Bush, Sr., and Bill Clinton," he said. "But I did not go to see George W. Bush's inauguration, because I didn't like him."
Vutha Chinn, who lives in Philadelphia, said he felt happy on behalf of Khmer refugees who had come to a land of opportunity and were now able to participate in events such as the inauguration.
"I am very grateful to be able to participate in and applaud Obama's inauguration and support his success in becoming American's president," he said.
Tuesday, November 04, 2008
US-Cambodians Feel Bite of Financial Crisis
By Taing Sarada, VOA Khmer Original report from Phnom Penh
03 November 2008
Cambodians living in the US say they are starting to feel the US economic crisis. They are counting on the next US president to help.
Merrith Chhang, a retiree in Washington state, said commodities, food and entertainment were all getting more expensive.
“It affects my family a lot,” he said. “For example, I used to buy a package of cereal that cost $3; now it costs $4. The price of chicken and other foods have also increased. It no only affects my family, but it also affects all the people in America.”
Merrith Chhang said he has reduced the number of times he visits his children in other states, thanks to the high price of gas. He has also stopped eating in restaurants.
“The reality is that I don’t spend so much on food, but I spend so much on medical care, such as going to the dentist,” he said. “Medical care in the US is extremely expensive. I am old, so I always check my health. I spend so much on medical. It’s about 50 percent of my spending.”
Larry Seng, another Washington state resident, who works at the aerospace and defense manufacturer Boeing, said had cut back on entertainment expenses with his family, which includes a son and a daughter.
“When I don’t have so much income, we can’t spend [money] on the things we want to,” he said. “When the economy is down like this, we don’t have so much to do, so we have to reduce our spending. It’s kind of hurting a lot.”
The economic crisis began when many Americans failed to pay back loans on homes that had lost much of their value, leaving many banks and other lending agencies holding the debt and leading to a string of bankruptcies. Financial panic spread to world markets, where there is now a shortage of money and credit, while demand from American consumers dropped.
Some companies have already begun cutting jobs, as Americans reduce their spending on products.
Rong Sourn, director of the Cambodian Association, in Philadelphia, Penn., said she hoped the government would provide more opportunities to small businesses, despite the crisis.
“The government should allow small businesses to be comfortable,” she said. “The government should make the economy grow by allowing small businesses to get some loans to make their business more sustainable.”
David Seng, who also lives in Philadelphia, blamed the Republicans for the decline of the economy.
“We have lived with the Republican regime for eight years already,” he said. “During the era of [president] Bill Clinton, we had a surplus, but now we don’t even have money and our economy is seriously falling down. The number of wars has also increased. So much money spent on war. I think the Republicans sing the same song over and over.”
Merrith Chhang, a retiree in Washington state, said commodities, food and entertainment were all getting more expensive.
“It affects my family a lot,” he said. “For example, I used to buy a package of cereal that cost $3; now it costs $4. The price of chicken and other foods have also increased. It no only affects my family, but it also affects all the people in America.”
Merrith Chhang said he has reduced the number of times he visits his children in other states, thanks to the high price of gas. He has also stopped eating in restaurants.
“The reality is that I don’t spend so much on food, but I spend so much on medical care, such as going to the dentist,” he said. “Medical care in the US is extremely expensive. I am old, so I always check my health. I spend so much on medical. It’s about 50 percent of my spending.”
Larry Seng, another Washington state resident, who works at the aerospace and defense manufacturer Boeing, said had cut back on entertainment expenses with his family, which includes a son and a daughter.
“When I don’t have so much income, we can’t spend [money] on the things we want to,” he said. “When the economy is down like this, we don’t have so much to do, so we have to reduce our spending. It’s kind of hurting a lot.”
The economic crisis began when many Americans failed to pay back loans on homes that had lost much of their value, leaving many banks and other lending agencies holding the debt and leading to a string of bankruptcies. Financial panic spread to world markets, where there is now a shortage of money and credit, while demand from American consumers dropped.
Some companies have already begun cutting jobs, as Americans reduce their spending on products.
Rong Sourn, director of the Cambodian Association, in Philadelphia, Penn., said she hoped the government would provide more opportunities to small businesses, despite the crisis.
“The government should allow small businesses to be comfortable,” she said. “The government should make the economy grow by allowing small businesses to get some loans to make their business more sustainable.”
David Seng, who also lives in Philadelphia, blamed the Republicans for the decline of the economy.
“We have lived with the Republican regime for eight years already,” he said. “During the era of [president] Bill Clinton, we had a surplus, but now we don’t even have money and our economy is seriously falling down. The number of wars has also increased. So much money spent on war. I think the Republicans sing the same song over and over.”
Thursday, October 09, 2008
Dollar rates rise in Asia despite global rate cuts
SINGAPORE, Oct 9 (Reuters) - The cost of overnight dollar funding rose as high as 7 percent in Asia on Thursday, reflecting persistent fears in credit markets even after coordinated interest rate cuts by major central banks around the world.
Overnight dollar funds were quoted at 5.5-7 percent in Singapore and around 6.5 percent in Kuala Lumpur, traders said. The rates ranged between 3-6.5 percent in Asia on Wednesday.
"Counterparty risks still remains and that has blocked the lending by banks as risk aversion persists," said Suresh Ramanathan, a strategist at CIMB Investment Bank in Kuala Lumpur.
Last month, overnight dollar rates shot up to 10 percent in Asia, spurred by the high-profile collapse of Lehman Brothers.
The U.S. Federal Reserve cut its benchmark interest rate by half a percentage point to 1.5 percent, and China, the European Central Bank and central banks in Britain, Canada, Sweden and Switzerland followed suit.
The coordinated rate cuts were the latest salvo from policymakers in response to the financial crisis that has forced commercial banks to hoard cash, rather than lending to each other.
On Thursday, three month dollar rates held steady between 4.3 and 5.5 percent in Singapore and were moderately higher in Kuala Lumpur, traders said. (Reporting by Kevin Yao; Editing by Anshuman Daga)
Overnight dollar funds were quoted at 5.5-7 percent in Singapore and around 6.5 percent in Kuala Lumpur, traders said. The rates ranged between 3-6.5 percent in Asia on Wednesday.
"Counterparty risks still remains and that has blocked the lending by banks as risk aversion persists," said Suresh Ramanathan, a strategist at CIMB Investment Bank in Kuala Lumpur.
Last month, overnight dollar rates shot up to 10 percent in Asia, spurred by the high-profile collapse of Lehman Brothers.
The U.S. Federal Reserve cut its benchmark interest rate by half a percentage point to 1.5 percent, and China, the European Central Bank and central banks in Britain, Canada, Sweden and Switzerland followed suit.
The coordinated rate cuts were the latest salvo from policymakers in response to the financial crisis that has forced commercial banks to hoard cash, rather than lending to each other.
On Thursday, three month dollar rates held steady between 4.3 and 5.5 percent in Singapore and were moderately higher in Kuala Lumpur, traders said. (Reporting by Kevin Yao; Editing by Anshuman Daga)
Friday, October 03, 2008
Politiktoons No. 52: US Bailout
Cartoon by Sacrava (on the web at http://politiktoons.blogspot.comand also at http://sacrava.blogspot.com)
Monday, September 29, 2008
Politiktoons No. 51: The 3 Cowboys
Cartoon by Sacrava (on the web at http://politiktoons.blogspot.comand also at http://sacrava.blogspot.com)
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