Archive for the 'Collapse' Category
Worried Wealthy People Buying 100 Ounce Gold Bars (Worth Nearly $100,000 Each Right Now)
March 8th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Yes, keep some physical metal close by, but also keep some far away. Consider liquidity when you want to sell. Is someone going to be making an efficient market for random 100 ounce gold bars where you are when you decide […]
‘Run on UK’ Sees Foreign Investors Pull $1 Trillion Out of the City
March 8th, 2009Via: Independent: A silent $1 trillion “Run on Britain” by foreign investors was revealed yesterday in the latest statistical releases from the Bank of England. The external liabilities of banks operating in the UK – that is monies held in the UK on behalf of foreign investors – fell by $1 trillion (£700bn) between the […]
Obama Urges Americans Not to “Stuff Money in Their Mattresses”
March 8th, 2009No, Mr. President. They’re buying gold and guns instead. Via New York Times: In a 35-minute conversation with The New York Times aboard Air Force One on Friday, Mr. Obama reviewed the challenges to his young administration. The president said he could not assure Americans the economy would begin growing again this year. But he […]
Maryland: 84,000 at Risk of Electricity Shut-Off
March 7th, 2009Via: Baltimore Sun: Nearly 84,000 households with delinquent utility bills could see their power shut off by Baltimore Gas and Electric Co. starting next month, when restrictions meant to protect customers during cold winter months end, the state’s top energy regulator warned. Douglas Nazarian, chairman of the state’s Public Service Commission called the situation facing […]
Ohio: 700 People Have Applied for a Single Job as a Janitor
March 7th, 2009I hope that people are not mentioning their graduate degrees when they’re applying for these jobs. Via: CantonRep: Plant closed. Laid off. Lack of work. How hungry are people for work in today’s sinking economy? Nearly 700 people have applied for a single job as a school custodian. Perry Local Schools have an open position […]
Brother, Can You Spare a Trillion?
March 7th, 2009Via: Solari: The full page ad in Ruppert Murdoch’s Wall Street Journal for its “Future of Finance Initiative” starts off by saying that the financial system has stopped working. I completely disagree. The financial system is working for the first time since Bob Rubin and his colleagues created the “strong dollar policy” complete with gold […]
‘America’s Workers Being Clobbered by a Relentless Wave of Layoffs Unlikely to Ease Anytime Soon’
March 6th, 2009Via: AP: The nation’s unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs amid a deepening recession. Both figures were worse than analysts expected and the Labor Department’s report shows America’s workers being clobbered by a relentless wave of layoffs unlikely to ease anytime soon. […]
Obama Says to Buy Stocks
March 6th, 2009Via: Automatic Earth: President Obama must be starting to sweat, maybe hyperventilate and perhaps even panic. In a move that is prone to kill a political career if it turns out wrong (and it will), he suggested today that this may be a good time for Americans to buy stocks. Now, I don’t care if […]
Unemployed Place Their Bets on Casino Jobs
March 6th, 2009Via: CNN: Sometimes the best way to roll with the punches is to roll the dice. That’s Jerry Goldsmith’s attitude. The Colorado man lost his engineering job of 29 years — and the six-figure salary that went with it — and is now applying for a casino job dealing craps, blackjack, roulette and poker. “I […]
SENATE MOVES TO ALLOW FDIC TO BORROW $500 BILLION
March 6th, 2009Do you remember what the head of the FDIC said two days ago? “Banks, not taxpayers, are expected to fund the system,” Bair said. Asking for taxpayer support “could paint all banks with the ‘bailout’ brush.” And now… Via: Wall Street Journal: Senate Banking Committee Chairman Christopher Dodd is moving to allow the Federal Deposit […]
