Archive for the 'Economy' Category
USDA Moves to Let Monsanto Perform Its Own Environmental Impact Studies on GMOs
April 24th, 2011Via: Grist: In early April, the USDA made what I’m reading as a second response to Judge White, this one even more craven. To satisfy the legal system’s pesky demand for environmental impact studies of novel GMO crops, the USDA has settled upon a brilliant solution: let the GMO industry conduct its own environmental impact […]
More Drivers Running Out Of Gas
April 23rd, 2011Wow. Some people are in so much denial about gas prices, and not wanting to think about filling up, that they are simply driving until they run out of gas. This is a fantastic lesson in cognitive dissonance. Think about this for a minute. If increasing numbers of people are in denial about their fuel […]
China: Thousands of Truck Drivers Riot in Shanghai Over Fuel Prices
April 21st, 2011ZeroHedge is right: China is now between a rock and a hard place: will it continue happily importing Bernanke’s inflation exports or finally retaliate. Unfortunately for its economy, the appropriately called “nuclear option” of revaluation, will leave it export economy flailing. So the real question: is China ready to migrate from an export-led to a […]
China Halts Fuel Exports to Ensure Domestic Supply
April 21st, 2011Some context is necessary on this story. China is a huge net oil importer. This is from the U.S. Department of Energy: China’s net oil imports reached about 4.3 million bbl/d in 2009, making it the second-largest net oil importer in the world behind the United States and for the first time surpassing Japan’s imports. […]
U.S. DOLLAR INDEX: INTRADAY DOWNSIDE BREACH 74.170
April 21st, 201174.101. It’s on.
Gold Futures Top $1,500 on Outlook for Escalating U.S. Debt, Dollar Slump
April 20th, 2011Via: Bloomberg: Gold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment. Silver surged to a 1980 high. The greenback dropped against the euro on speculation that the European Central Bank will continue to raise borrowing costs as […]
Florida: State Investigates Campaign to Provide Superhero Capes to Jobless People
April 19th, 2011Via: Orlando Sentinel: State labor officials asked their inspector general Monday to investigate why a Central Florida agency wants to spend public money to furnish the unemployed with capes. Dubbed the “Cape-A-Bility Challenge,” a $73,000 public-relations campaign by Workforce Central Florida features a cartoon character named “Dr. Evil Unemployment” and includes handing out about 6,000 […]
Britain: Secret Memos Expose Link Between Oil Firms and Invasion of Iraq
April 19th, 2011Via: Independent: Plans to exploit Iraq’s oil reserves were discussed by government ministers and the world’s largest oil companies the year before Britain took a leading role in invading Iraq, government documents show. The papers, revealed here for the first time, raise new questions over Britain’s involvement in the war, which had divided Tony Blair’s […]
S&P Lowers U.S. Credit Rating Outlook to Negative
April 18th, 2011Thanks, Captain Obvious: National Debt Clock Via: CNN: Standard & Poor’s lowered its outlook for the nation’s long-term debt Monday, even as it reaffirmed the agency’s top-tier rating for the U.S. economy. S&P maintained its ‘AAA/A-1+’ credit rating on U.S. sovereign debt, saying the nation’s “highly diversified” economy and “effective monetary policies” have helped support […]
The True Finns: Finnish Anti-Euro Party Sees Large Gains in Recent Election
April 18th, 2011Via: Reuters: The True Finns, the anti-euro party voted into a powerful role in the Helsinki parliament at the weekend, expect the European Union to change plans for a bailout of Portugal, its leader said on Monday. “Of course there will have to be changes,” Timo Soini told reporters a day after his party more […]
