Archive for the 'Collapse' Category
The Big Picture: 2009 UN World Drug Report
October 23rd, 2009Oblivion. Via: Boston Globe – Big Picture: (WARNING: Graphic content.) The 2009 United Nations World Drug report, released earlier this year, notes that 2009 marks “the end of the first century of drug control (it all started in Shanghai in 1909)”, and that the illicit drug market worldwide has now become a $320 billion-per-year industry. […]
Senior Australian Politician Warns About U.S. Debt Default Within the Next Few Years
October 23rd, 2009Via: The Age: THE Nationals Senate leader Barnaby Joyce is openly canvassing an economic upheaval that would dwarf the current global financial crisis, triggered by the US defaulting on its sovereign debt within the next few years. In unusually pessimistic comments for a senior political figure, Senator Joyce said the US Government was running such […]
Real Estate Collapse Entering New Phase: Banks Refusing to Repossess Abandoned Homes, or Even File Foreclosures
October 19th, 2009Not only are there no bids in some markets, the accumulation of property taxes means that some properties have negative valuations, like a derivative trade that’s gone bad. Via: Dayton Daily News: Nobody is sure exactly how many bank walkaways are occurring. For various reasons, they can’t be identified in searches of public real estate […]
Thousands at Cow Palace Seeking Mortgage Help
October 17th, 2009Via: San Francisco Chronicle: The Cow Palace, site of rodeos and rock concerts, was transformed into a foreclosure-prevention fair on Friday that drew thousands of struggling borrowers hoping for help to make their mortgages more affordable. Armed with sleeping bags or folding chairs, many spent a chilly night on the pavement outside the Daly City […]
One in Eight Girls Pregnant at Chicago High School
October 16th, 2009Via: CBS2Chicago: It is a Chicago public school full of energy and spirit. It has about 800 girls, and 115 of them have something in common… All those young ladies are moms or moms-to-be at Paul Robeson High School. It’s not a school for young mothers, it’s a neighborhood school. And all of the pregnancies […]
Civilians Unemployed – 15 Weeks & Over
October 16th, 2009Recovery. Via: Federal Reserve Bank of St. Louis:
Drought: California Agriculture in Collapse
October 16th, 2009Via: AP: As California prepares for its fourth year of drought, farmers are nervous in California’s San Joaquin Valley. The valley’s eight counties, if they were their own state, would be the top producing one in the nation. Nearly all the U.S. cantaloupes, garlic, almonds and processing tomatoes come from here. And so do nearly […]
Foreclosures: ‘Worst Three Months of All Time’
October 16th, 2009This is the best Green Shoots article in weeks. Via: CNN: Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday. “They were the worst three months of all time,” said Rick Sharga, spokesman for RealtyTrac, an online […]
Harrods to Sell Gold Bullion for First Time
October 15th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Public participation phase? Via: Telegraph: It is renowned for its glitzy clientele and upmarket Knightsbridge location, but shoppers at department store Harrods will from today be able to buy the ultimate luxury accessory – gold bars. From this morning, Harrods will […]
Lazard CEO Bruce Wasserstein Dies at 61
October 15th, 2009Via: AP: Bruce Wasserstein, the CEO of Lazard Ltd. and a prominent Wall Street dealmaker who helped negotiate some of the largest corporate takeovers in history, died Wednesday. He was 61. The death of the driving force behind Lazard raises questions about the future of one of Wall Street’s top mergers and acquisitions advisory firms. […]
