Archive for the 'Collapse' Category
China: Emergency Rate Cuts, Riots, Factory Workers Fired by the Millions
November 27th, 2008Via: Telegraph: Today, around 500 protesters rioted at the Kai Da toy factory in Dongguan in the Pearl River delta, flipping over a police car and trashing computers in a dispute over payoffs to 80 fired workers. Tens of thousands of factories across the region have already shut their gates. Yin Weimin, China’s Social Security […]
The U.S. Treasury Market Reaches Breaking Point; 20 Percent of Trading Volume Represents “Fails” or Bonds That Will not Be Delivered on Schedule
November 27th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. This is THE core process that animates the entire zombie money system… I’m at a bit of a loss to think of applicable analogies that might describe the failure of this mechanism. Have you ever seen a top fuel dragster explode […]
Los Angeles: 5,000 People Turn Out for a Food Giveaway
November 26th, 2008And check out the part about the Home Preservation Day event. Via: Los Angeles Times: Some sought a cart of groceries the week before Thanksgiving, others sought a way to keep from losing their homes in the new year. By the thousands, a diverse group of Southern Californians converged on two events Saturday aimed at […]
People Digging Holes in the Ground, Burying Cash and Gold
November 26th, 2008There are a few things to consider with cash. First, in the U.S., police may seize cash from motorists even in the absence of any evidence that a crime has been committed. People routinely have large amount of cash stolen from them by local, state and federal law enforcement agencies. Second, there has been a […]
FED PLEDGES TOP $7.4 TRILLION
November 24th, 2008Adrift in a squall. Snapped mast. No rudder. Taking on water. Via: Bloomberg: The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago. […]
EMERGENCY: CITIGROUP
November 24th, 2008The U.S. Taxpayer is about to eat the catastrophic losses that have been generated by the world’s largest bank. Via: BBC: Executives of Citigroup, one of the biggest banks in the US, are in emergency talks with the US Treasury to gain much-needed funding, reports say. The bank is also said to have contacted certain […]
FDIC Friday: Three More Banks Fail
November 22nd, 2008I’ve been ignoring FDIC Fridays for the last several weeks because the failures have been noise level events. Downey Savings and Loan and PFF are worth mentioning. Via: AP: Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in […]
Soil Erosion Threatens Land of 100 Million Chinese
November 21st, 2008Via: Guardian: Almost 100 million people in south-west China will lose the land they live on within 35 years if soil erosion continues at its current rate, a nationwide survey has found. Crops and water supplies are suffering serious damage as earth is washed and blown away across a third of the country, according to […]
1 Terabyte of Storage for $148?
November 21st, 2008I just checked my Amazon affiliate stats and someone bought a 1TB external drive for $148. I’m just floored by this. In 2000, the CEO of the company that I worked for told me to draw up plans to put 1TB of storage on the network. (In 2000, tera-scale infrastructure was a relatively big deal.) […]
Financial Crisis Tab Already In The Trillions; More Than What Was Spent on World War 2, If Adjusted for Inflation
November 18th, 2008* muttering, sputtering sounds * Via: CNBC: Given the speed at which the federal government is throwing money at the financial crisis, the average taxpayer, never mind member of Congress, might not be faulted for losing track. CNBC, however, has been paying very close attention and keeping a running tally of actual spending as well […]
