Archive for the 'Economy' Category
The Slow Disappearance of the American Working Man
August 27th, 2011What’s the solution? Hmm. War: Now Even Better for Wiping Out Excess Men (and Women and Children and Elderly). Buy Now! Via: Business Week: A smaller share of men have jobs today than at any time since World War II As President Barack Obama puts together a new jobs plan to be revealed shortly after […]
Credit Default Swaps Indicating Market Crash Might Be Weeks Away
August 26th, 2011Via: Telegraph: A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets. Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US […]
Britain Will Take in Billions of Pounds from Taxes on Swiss Bank Accounts
August 25th, 2011Via: BBC: A UK government minister has defended a deal with the Swiss that could capture tax of up to £5bn but keep bank account holders’ identities secret. Undeclared money held by UK taxpayers in Swiss accounts will be taxed for the first time, at up to 34% of the total. Treasury minister David Gauke […]
Warren Buffett to Invest $5 Billion in Bank of America
August 25th, 2011Via: Reuters: Warren Buffett’s Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis. Bank of America shares rose 24 percent to $8.65 in early trading, erasing a large part of the stock’s August […]
Kevin Slavin: How Algorithms Shape Our World
August 25th, 2011Via: TED: Kevin Slavin argues that we’re living in a world designed for — and increasingly controlled by — algorithms. In this riveting talk from TEDGlobal, he shows how these complex computer programs determine: espionage tactics, stock prices, movie scripts, and architecture. And he warns that we are writing code we can’t understand, with implications […]
Gold: Intraday Prints Under $1800
August 24th, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Spot gold: $1798. That is all… Update: Initial Pullback Targets Based on Fibonacci Retracements of Recent Ramp Up Hint: There’s more to that 38.2% level than meets the eye. I’ve left substantial woowoo off this chart, but if you’re looking for […]
How to Get $12 Billion of Gold to Venezuela
August 24th, 2011I think the more immediate and pressing matter will be: How to Get $12 Billion of Gold in the First Place. Dear Leader Chavez doesn’t actually believe these banks actually kept all of Venezuela’s gold on hand, does he? He can’t be that stupid. So, I see this as a pretty cunning bit of economic […]
Japan Unveils $100 Billion Effort to Cope With Yen
August 24th, 2011Alternate headline: Japan Willing to Break Its Own Back to Remain Strapped to the Mast of the Sinking USA. Via: Bloomberg: Japan unveiled a $100 billion effort to help companies cope with a surging yen, signaling that officials may be resigned to the currency remaining high. The government will release foreign-exchange reserves to the Japan […]
A Huge Housing Bargain — but Not for You
August 24th, 2011Via: The Street: The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds. These homes, which are now the property of the U.S. […]
Gold Slammed
August 23rd, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Bid/Ask 1828.70 – 1829.70 Low/High 1822.70 – 1906.80 Change -69.40 -3.66% It looks like they fed some gold to the rally monkey and let it loose in that pachinko lounge I laid down a bet in yesterday.
