Archive for the 'Economy' Category
How Goldman Sachs Created the Food Crisis
May 5th, 2011I covered this back in 2008: If I buy a wheat contract, I should have to take delivery of the physical wheat on the specified date. If I sell a wheat contract, I should have to deliver the physical wheat on the specified date. I should not be allowed to buy or sell those leveraged […]
Blackwater’s New Ethics Chief: John Ashcroft
May 4th, 2011Via: Wired: The consortium in charge of restructuring the world’s most infamous private security firm just added a new chief in charge of keeping the company on the straight and narrow. Yes, John Ashcroft, the former attorney general, is now an “independent director” of Xe Services, formerly known as Blackwater. Ashcroft will head Xe’s new […]
The Global Economy’s Corporate Crime Wave
May 4th, 2011Via: Project Syndicate: The world is drowning in corporate fraud, and the problems are probably greatest in rich countries – those with supposedly “good governance.” Poor-country governments probably accept more bribes and commit more offenses, but it is rich countries that host the global companies that carry out the largest offenses. Money talks, and it […]
Recovery: About 1 in 7 in U.S. Receive Food Stamps
May 4th, 2011Via: Christian Science Monitor: As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is continuing to rise. In fact, household participation has been climbing so steadily that it has far surpassed the last peak set as a result of the immediate fallout following hurricane Katrina. […]
Deutsche Bank Faces U.S. Fraud Lawsuit Over Mortgage Lending
May 3rd, 2011via: Bloomberg: Deutsche Bank AG (DBK), Germany’s biggest bank, was sued for more than $1 billion by the U.S. government, which claims it “repeatedly lied” so that thousands of risky mortgages qualified for a government insurance program. The Frankfurt-based bank and its MortgageIT unit falsely certified that borrowers didn’t face risk of default, qualifying the […]
Resisting the Rise of the Machines as Marketing Meme to Sell Cars?
May 3rd, 2011Via: Dodge / YouTube: Related: Life in Touchscreen Hell
Britain: Wind Power Companies Paid to Stop Producing Electricity
May 2nd, 2011Via: BBC: Six Scottish windfarms were paid up to £300,000 to stop producing energy, it has emerged. The turbines, at a range of sites across Scotland, were stopped because the grid network could not absorb all the energy they generated. Details of the payments emerged following research by the Renewable Energy Foundation (REF). The REF […]
Your Location ‘Extremely Valuable’ to Google
May 2nd, 2011Via: International Business Times: Then, just weeks ago Los Angeles-based researcher Samy Kamkar illustrated that Google Android based smartphones were sending precise GPS location and other data back to Google “several times an hour.” “I cannot stress enough how important Google’s wifi location database is to our Android and mobile product strategy,” Google location manager […]
The Bin Laden Corpse Trick Isn’t Working on the Dollar
May 2nd, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Update: Breach Intraday 72.825. Those idiots outside the White House better wave the flags harder. —End Update— The early move higher has completely crapped out and we’re looking at another make or break level on the USDX this morning. The support […]
Silver Gaps Down
May 2nd, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Update Out the calls now. No SLV position. *wipe brow* —End Update— Update Sold to close May SLV puts. *cha ching* Reversed it long with May SLV calls on gap close. Intraday only. Now, daddy needs to get taken out on […]
