Archive for the 'Economy' Category
‘Glitch Blocked Goldman at Treasury Auction’
September 20th, 2013[???] Via: Wall Street Journal: A glitch in a computer system at the center of the $11.6 trillion market for U.S. government debt last week blocked Goldman Sachs Group Inc.’s multibillion-dollar order at an auction of Treasury bills, leaving the bank empty-handed and altering prices in the U.S. debt market. The Treasury Department on Sept. […]
Billionaire Investor: Fed Robbing Poor to Pay Rich
September 19th, 2013Via: CNBC: The Federal Reserve isn’t just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich, according to billionaire hedge fund manager Stanley Druckenmiller. In an interview on “Squawk Box,” the founder of Duquesne Capital said the Fed’s policy of quantitative easing was inflating stocks […]
Shinola Is Bringing Watchmaking to Detroit
September 19th, 2013Google’s Moto X smartphone is made in Texas. And now watches… Made in Detroit? Yep. Via: The Verge: Detroit stories come in two kinds. There’s “the collapse of the Motor City” — the story of a once-great city now abandoned and bankrupt, its people gone or dug in, its once-grand buildings now majestic ruins, its […]
Abandoned NHS IT System Has Cost £10bn So Far
September 18th, 2013Via: Guardian: An abandoned NHS patient record system has so far cost the taxpayer nearly £10bn, with the final bill for what would have been the world’s largest civilian computer system likely to be several hundreds of millions of pounds higher, according a highly critical report from parliament’s public spending watchdog. MPs on the public […]
Satire: iPhone 5 NSA
September 18th, 2013Via: We Are Change: Related: Apple Patents Kill Switch for Mobile Devices Because: “Covert Police or Government Operations May Require Complete ‘Blackout’ Conditions.”
DARPA to Start Reusable Launch Vehicle Program
September 18th, 2013Via: Space News: The U.S. Defense Advanced Research Projects Agency (DARPA) is about to start a program to develop a reusable first stage that could be used to launch medium-sized satellites for as little as $5 million each. Speaking Sept. 12 at the AIAA Space 2013 conference in San Diego, Pam Melroy, deputy director of […]
Gas Prices Set Record: 1,000 Days Above $3 a Gallon
September 17th, 2013Via: USA Today: Well, AAA has come up with a sobering statistic: the average price of gasoline will surpass $3 per gallon Tuesday for the 1,000th consecutive day. That’s never happened before, the motoring organization says.
Dutch Health Official: Sugar Is Dangerous, Very Addictive
September 17th, 2013Via: Telegraph: Paul van der Velpen, the head of Amsterdam’s health service, the Dutch capital city where the sale of cannabis is legalised, wants to see sugar tightly regulated. “Just like alcohol and tobacco, sugar is actually a drug. There is an important role for government. The use of sugar should be discouraged. And users […]
China’s Education Plan … From Finland’s Playbook
September 17th, 2013Via: CNBC: If you think the business competition from China is hard now, brace yourself. It will likely get tougher in about 20 years or so. And how is China doing it? By borrowing a page from Finland. At first blush, though, it would appear that China is simply lightening up. “The Ministry of Education […]
Recovery: Widest Gap in Employment Rates Between Rich, Poor in a Decade
September 16th, 2013Via: AP / Newser: The gap in employment rates between America’s highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press. Rates of unemployment for the lowest-income families _ those earning less than $20,000 […]
