Archive for the 'Economy' Category
Ireland Being “Run by Mad People in Brussels”
August 11th, 2011Via: Irish Times: POTENTIAL PRESIDENTIAL candidate Gay Byrne has expressed concerns about the development of the European Union, saying Ireland was being “run by mad people in Brussels”. The veteran broadcaster, who revealed this week he had been asked to consider running for the presidency by Fianna Fáil leader Micheál Martin, outlined his worries while […]
Gold Falls Most in Seven Weeks as Margins Raised
August 11th, 2011Via: Bloomberg: Gold futures fell the most in seven weeks after CME Group Inc. boosted margins on Comex contracts, prompting investor sales after a three-day rally to a record topping $1,800 an ounce and as equities rebounded. CME Group, owner of the world’s largest futures market, raised margins on gold contracts by 22 percent. The […]
TEPCO Lost Contact with 143 Nuclear Plant Workers; Kept No Records of Their Addresses or Exposure to Radiation
August 11th, 2011Many of these workers are homeless. See: Nuclear Ginza. Via: Japan Today: Tokyo Electric Power Co (TEPCO) said Thursday that it has not been able to locate 143 individuals working to restore the Fukushima Daiichi nuclear power plant since May. The utility said it has no idea if the 143 have been exposed to radiation […]
France: Banking Stocks Sharply Lower on Credit Rating Downgrade Fears
August 10th, 2011Via: AP: President Nicolas Sarkozy cut short his vacation and pledged to slash France’s huge debts but rising concerns about a cut to the country’s credit rating helped send bank shares plunging Wednesday afternoon. Worries that France would lose its triple A rating sparked the selloff, which built momentum on rumors that the banks’ financial […]
Is A Gold Swiss Franc In The Works?
August 10th, 2011I don’t agree with the part about credit being allowed on these accounts, but, wow! Via: Forbes: Now, in Switzerland, efforts are underway to create an official Gold Swiss franc (GSF) with a set of coins, each with a fixed content of gold. The proposed constitutional change would permit private institutions to issue an unlimited […]
U.S. Equities Selling Off
August 10th, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Spot Gold: $1797.87 Comex Gold Futures: $1801 — Spot Gold: 1785.00 — DJIA -4% Spot Gold: New record high, $1779.79. — DJIA and NASDAQ are both down over 3% at the moment.
Dylan Ratigan Rant Over Political and Economic System Designed to “Extract America”
August 10th, 2011I hardly ever see these talking heads shows, so I don’t know if this type of thing happens often. Apologies if this is just standard fare on the TV nowadays. Ratigan’s description of the issue represents a lie by omission, and his prescription would perpetuate the problem. Mainly, I liked how workers in the background […]
Dollar Declines The Most Against Swiss Franc In At Least 40 Years
August 10th, 2011Via: Bloomberg: The dollar tumbled the most in at least 40 years against the Swiss franc after the Federal Reserve pledged to keep its key interest rate at a record low at least through mid-2013 to revive the flagging economic recovery. The greenback declined versus the majority of its most- traded peers as the Fed […]
“Markets Spasm” Rally
August 9th, 2011Via: AP: Stocks are rising at the closing of trading after the Federal Reserve said it has discussed policy moves it can make to spur the economy. The Fed also said growth has been slower than expected. The Dow Jones industrial average is closing up 429 points, or 4 percent, to 11,239.77. Stocks rallied in […]
Gold Hits $1,778 in Biggest 3-Day Rally Since 2008
August 9th, 2011Via: Reuters: Gold hit a record high on Tuesday in its biggest three-day rally since the depths of the financial crisis in 2008, as investor fears over the threat to the global economy from the European and U.S. debt crises hit assets seen as higher risk. Though spot prices retreated from highs as stock markets […]
