Archive for the 'Economy' Category
Spain’s Intelligence Services Investigating Role of British and American Media in Fomenting Financial Turmoil
May 18th, 2012Via: Guardian: It is the only economy in Western Europe still in recession: property prices are crashing, unemployment has risen to more than 4 million, and some are already muttering that it could end up with a financial crisis worse than Greece’s. But at least Spain now has someone to blame: the country’s intelligence services […]
EUR/USD
May 18th, 2012Warning: This is not a recommendation to buy, sell or hold any financial instrument. Update: Spot Gold Prints Weekly Bullish Hammer Markets have closed for the week and the scenario I laid out below appears to be underway. On the spot gold weekly interval, we see a bullish hammer with a lower shadow nearly touching […]
Italy Deploys 20,000 to Protect Sensitive Targets After Shooting, Letter Bombs
May 18th, 2012Via: AP: Italy increased security Thursday at 14,000 sites, and assigned bodyguards to protect 550 individuals after a nuclear energy company official was shot and letter bombs directed to the tax collection agency. Under the enhanced measures, Interior Minister Anna Maria Cancellieri deployed 20,000 law enforcement officers to protect individuals and sensitive sites. In addition, […]
Spain: Bankia in Trouble
May 17th, 2012Via: BBC: Shares in Spanish bank Bankia have continued their dramatic decline on concerns over the firm’s finances. The share price was down another 15% on Thursday, taking losses for May to 45%. Spain denied a report in the El Mundo newspaper that customers had taken more than 1bn euros ($1.3bn; £800m) out of the […]
And Now: Ex-Patriot Act
May 17th, 2012Wow. The full text of this should be interesting. What’s next? Punishing the family members of people who flee? Via: ABC News: Sen. Chuck Schumer, D-N.Y., has a status update for Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never come to back to the U.S. again. […]
JP Morgan Bad Trade Loss $1 Billion Worse Since Announcement
May 17th, 2012Via: New York Times: The trading losses suffered by JPMorgan Chase have surged in recent days, surpassing the bank’s initial $2 billion estimate by at least $1 billion, according to people with knowledge of the losses. When Jamie Dimon, JPMorgan’s chief executive, announced the losses last Thursday, he indicated they could double within the next […]
The Inequality Speech That TED Won’t Show You
May 17th, 2012I’ll never be for anything that hands more money to the state, but I do like the idea of a maximum compensation ratio applying to all employees of corporations. This is an old comment of mine on the subject: One of my impossible to implement ideas would be to have a maximum total compensation ratio […]
Will Smith’s Son Talks Aliens at The White House
May 17th, 2012The BBC clip is below: Via: Silver Screen Saucers: Men in Black 3 star Will Smith today told BBC Radio 1 host Chris Moyles that his 13-year-old son Jayden (himself a Hollywood star) put President Obama on the spot recently during a private tour of the White House. The subject of Jayden’s enquiry – aliens! […]
Wheat: Biggest Price Rise in 6-1/2 Weeks on Dry Weather Threat
May 17th, 2012DISCLOSURE: I’m long PowerShares DB Agriculture (DBA). Via: Reuters: U.S. wheat futures climbed on Thursday, extending gains from the previous session when the grain posted its biggest daily price rise in 6-1/2 weeks, on concerns about dry conditions damaging the winter wheat crop. Chicago Board Of Trade July wheat futures rose 0.74 percent to their […]
The Ph.D. Now Comes With Food Stamps
May 17th, 2012Via: The Chronicle of Higher Education: “I am not a welfare queen,” says Melissa Bruninga-Matteau. That’s how she feels compelled to start a conversation about how she, a white woman with a Ph.D. in medieval history and an adjunct professor, came to rely on food stamps and Medicaid. Ms. Bruninga-Matteau, a 43-year-old single mother who […]
