Archive for the 'Economy' Category
Army Recruits Prisoners to Make Body Armor
March 14th, 2011Via: Wired: Building parts for Patriot missile systems was just a warm-up, apparently, for a government-owned company that relies on federal inmates making as little as 23 cents an hour. On Wednesday, the U.S. Army announced that it handed Federal Prison Industries a no-bid, nearly $20 million contract to build body armor. It’s the latest […]
Anonymous Airs Bank of America Emails for Wikileaks
March 14th, 2011Via: Daily Tech: The emails detail what seems like suspicious actions at Balboa (and by proxy, Bank of America). The unit makes most of its money from placing mandatory insurance policies on liens, such as home mortgages, farm loans, etc. The insurance policy increases the amount the mortgage holder has to pay in escrow. It […]
Implications of Japanese Earthquake
March 14th, 2011J writes: Kevin, Would you comment on what the situation in Japan means for the rest of the world. I have been trying to get my head around what has happened, and what is still happening, but I’m not able to do it. Millions of Japanese are without water, food and electricity. Some of the […]
Nikkei Down Nearly 5%
March 14th, 2011Bloomberg: Bank of Japan Will Add $146 Billion to Stabilize Markets After Earthquake — Pump It: Bloomberg: Japan Adds $86 Billion to Stabilize Markets After Quake: The Bank of Japan began pouring cash into the banking system after the nation’s most powerful earthquake on record, while later today it may keep its asset- purchase plans […]
Yen Rallies on Repatriation
March 14th, 2011Via: Reuters: The yen rallied broadly early in Asia on Monday but quickly pared gains in volatile trade as nervous traders waited to see what action Japanese officials will take to keep markets calm after Friday’s massive earthquake and tsunami hit the country. The Japanese currency had risen sharply on Friday on talk of repatriation […]
Probably No Civil or Criminal Charges Over Lehman Brothers’ Activities
March 13th, 2011*Shaking head* *Mumbling incoherently* Via: Wall Street Journal: The U.S. government’s investigation into the collapse of Lehman Brothers Holdings Inc. has hit daunting hurdles that could result in no civil or criminal charges ever being filed against the company’s former executives, people familiar with the situation said. In recent months, Securities and Exchange Commission officials […]
EMERGENCY JAPAN: 9.1 MAGNITUDE EARTHQUAKE
March 11th, 2011Rolling Blackouts Begin Monday Via: Reuters: Tokyo Electric Power Co said on Sunday that it would conduct its first-ever rolling blackout from Monday to help prevent an unexpected large-scale power outage after a powerful earthquake shut two nuclear plants indefinitely on Friday. Blackouts will be conducted in turns at five areas in nine prefectures that […]
Utah Legislature Backs Gold and Silver as Legal Tender; Full Value of Metal, Not Just Face Value
March 11th, 2011Via: Salt Lake Tribune: The Senate gave final approval Thursday to a bill taking the first step to recognize gold and silver as legal tender in the state. It voted 16-7 to pass HB317, and sent it to Gov. Gary Herbert for his signature. The measure would recognize as legal tender gold and silver coins […]
Saudi Arabia: Police Broke Up Protest; Used Stun Grenades, “Rubber or Live Bullets”
March 10th, 2011Monitoring… Via: Reuters: Saudi police used force to disperse a demonstration by minority Shi’ites on Thursday, injuring up to four people on the eve of a day of protests called for on social media, witnesses and activists said. Shots were heard near a protest by around 200 Shi’ites in the town of Qatif in Saudi […]
Drug That Prevents Preterm Labor Goes from $10 to $1,500
March 10th, 2011Via: AJC / AP: The price of preventing preterm labor is about to go through the roof. A drug for high-risk pregnant women has cost about $10 to $20 per injection. Next week, the price shoots up to $1,500 a dose, meaning the total cost during a pregnancy could be as much as $30,000. That’s […]
