Archive for the 'Economy' Category
Debt Doomsday May Come Sooner Than Expected
February 25th, 2012Via: Politico: The federal government could hit the debt ceiling sooner than expected — and possibly around the November election — according to a report out Friday. Lawmakers on Capitol Hill had hoped that last summer’s deal to end the nasty fight over lifting the debt ceiling would ensure the issue wouldn’t resurface until at […]
Oil Continues to Close the Gap
February 24th, 2012Warning: This is not a recommendation to buy, sell or hold any financial instrument. We’re looking at a break higher out of a triangle formed by the monthly interval candles on WTI. My guess is that it will see the resistance at around $114.80, but that it will continue higher after consolidating. If it clears […]
America’s Per Capita Government Debt Worse Than Greece
February 24th, 2012Via: Weekly Standard: The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that ‘America’s Per Capita Government Debt Worse Than Greece,’ as well as Ireland, Italy, France, Portugal, and Spain…
Million-Dollar Foreclosures Rise as Rich Walk Away
February 23rd, 2012Via: CNN: Five years after the housing bubble burst, America’s wealthiest families are now losing their homes to foreclosure at a faster rate than the rest of the country — and many of them are doing so voluntarily. Over 36,000 homes valued at $1 million or more were foreclosed on — or at least served […]
Corrections Corporation of America Wants to Buy State Owned Prisons and Then Get States to Commit to Keeping Them Full of Prisoners
February 23rd, 2012Via: ACLU: Recently we learned that the Corrections Corporation of America (CCA), the largest private prison company in the country, sent a letter to 48 state governors offering to buy up their state-owned and operated prisons and put them under CCA control. If offering cash-strapped states a quick infusion of money by taking control of […]
Fed Writes Sweeping Rules From Behind Closed Doors
February 23rd, 2012Via: Wall Street Journal: The Federal Reserve has operated almost entirely behind closed doors as it rewrites the rule book governing the U.S. financial system, a stark contrast with its push for transparency in its interest-rate policies and emergency-lending programs. While many Americans may not realize it, the Fed has taken on a much larger […]
Greece: ‘We Won’t Pay’
February 22nd, 2012Via: Der Spiegel: The people who could ultimately give Greece the coup de grace are not the kind to throw stones or Molotov cocktails, and they have yet to torch any cars. Instead, they are people like 60-year-old beverage distributor Angelos Belitsakos, people who might soon turn into a real problem for the economically unstable […]
Dominique Strauss-Kahn Questioned About Prostitutes, Orgies; Police, Government Officials Involved
February 21st, 2012You know… The usual. Via: AP: Former International Monetary Fund chief Dominique Strauss-Kahn is being questioned Tuesday by French police investigating a suspected hotel prostitution ring. Strauss-Kahn arrived at the police station in the northern city of Lille, an Associated Press reporter saw. Police are probing a suspected prostitution ring in France and neighboring Belgium […]
Saudi Arabia Cuts Oil Output
February 20th, 2012It’s going to be another interesting spring at American gas stations… Via: CNBC: The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data. The […]
Iran Stops Oil Sales to British, French Companies
February 19th, 2012Via: Reuters: Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state’s lifeblood, oil. “Exporting crude to British and French companies has been stopped … we will sell our oil to new customers,” spokesman Alireza Nikzad was […]
