Archive for the 'Economy' Category
Japan: Food Radiation Checker
October 7th, 2011Send the bill to Tepco? *groan* Via: Cnet: For many Japanese, food safety is an urgent concern in light of the ongoing crisis at the Fukushima Daiichi nuclear plant, from which radiation has entered the food supply. Kyoto-based scientific equipment maker Horiba is trying to help with a radiation detector kit that can tell users […]
Georgia May Use Prisoners to Fill Farm Labor Gap
October 7th, 2011Via: AP: State officials have set their sights on another potential pool of workers to help bridge Georgia’s severe farm labor gap: prisoners. The idea is to put nonviolent inmates — who are spending the end of their prison terms at one of the state’s 13 transitional centers — to work picking fruits and vegetables […]
Bank of England Governor: World Facing Worst Financial Crisis in History
October 7th, 2011So, the green shoots are off then? Via: Telegraph: The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created […]
IMF Advisor: Could See Eurozone ‘Meltdown’ in 2 Or 3 Weeks
October 7th, 2011“The US investment banks and the rating agencies are now attacking these French banks. They know where the bodies are buried, and they are using the weapons they sold them to attack them… This is part of a new era on Wall Street – they go after sovereign debt. Wall Street and rating agencies are […]
UBS Systems Detected £1.3bn Rogue Trader; Warnings Were Ignored
October 6th, 2011Via: ComputerWorldUK: UBS has insisted its IT systems did detect unusual and unauthorised trading activity, before rogue trader Kweku Adoboli ran up a $2 billion (£1.3 billion) loss on the bank’s derivatives desk. Interim chief executive Sergio Ermotti, who is running the company following Oswald Grubel’s resignation last month, sent a memo to employees saying […]
Feds Target Pot Dispensaries for Closure
October 6th, 2011The government and the pharmaceutical industry don’t like the competition. Via: AP: Federal prosecutors have launched a crackdown on pot dispensaries in California, warning the stores that they must shut down in 45 days or face criminal charges and confiscation of their property even if they are operating legally under the state’s 15-year-old medical marijuana […]
‘Unprecedented’ Problems with Bank of America’s Web Site
October 6th, 2011Customers closing accounts after the announcement of the $5 per month EFT card fee? There’s a bit of a movement underway to let Bank of America know how customers feel about that $5 fee. People are either emptying their accounts of funds, or closing their accounts completely. I’m very happy to say that my balance […]
It’s Man vs. Machine and Man Is Losing
October 6th, 2011More machines, fewer workers. Via: Wall Street Journal: In the man-versus-machine competition, machine is winning. And it’s not just Watson beating humans on “Jeopardy.” Since the recession ended, businesses had increased their real spending on equipment and software by a strong 26%, while they have added almost nothing to their payrolls.
Against the Institution: A Warning for ‘Occupy Wall Street’
October 6th, 2011Via: Andrew Gavin Marshall: While I fully endorse the efforts and actions of the Occupy Wall Street protests, now emerging internationally, there are concerns which need to be addressed and kept in mind as the movement moves forward. The process through which a potentially powerful movement may be co-opted and controlled is slight and subtle. […]
Flashback: Citigroup Plutonomy Memos
October 6th, 2011I was pretty sure that I’d posted these long ago, but I’m not finding them in my archives. In short: The rich are getting richer, so Citi advised buying a basket of stocks of companies that cater to very wealthy people. Via: Monkeyfister: …the rich are the dominant source of income, wealth and demand in […]
