Archive for the 'Economy' Category
Oil
February 23rd, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Here’s a flashback from November 2010: Oil Could Be On Brink Of Terrifying Move Higher. If you’re doing well on the longside of oil, just keep an eye on that U.S. Dollar Index. It’s nearing uptrending support (drawn from daily swing […]
Wealthy Businessman Linked to Congo Gold Smuggling Jet [Wait for It] ‘Was Recently Appointed to an Advisory Post in the Obama Administration’
February 23rd, 2011Update: Kenyan Killed in Congo Gold Smuggling Probe Via: Reuters: A senior Kenyan official has been shot dead while investigating gold smuggling from eastern Democratic Republic of Congo (DRC), Kenyan police said on Monday. Eric Kiraithe, a police spokesman, said the man was an official at Kenya’s Revenue Authority. “We have not arrested any suspects […]
Highest Gas Prices in February Since 1990
February 23rd, 2011Via: ABC News: Weekly gas prices skyrocketed, according to the Department of Energy, driven by the popular revolts spreading across the Middle East. The U.S. weekly average price per gallon is $3.19, up 54 cents from a year ago, and slightly higher than last week’s $3.14. This was the highest price posted during the month […]
Seattle-Area Restaurant Refuses to Serve TSA Agents
February 23rd, 2011Via: Consumerist: Fed up with what he views as crappy treatment from the TSA, the owner of a restaurant near Seattle-Tacoma International Airport has decided to put all TSA agents on his No-Eat List. “We have posted signs on our doors basically saying that they aren’t allowed to come into our business,” one employee tells […]
Cables Show China Used Debt Holdings to Press U.S.
February 22nd, 2011Duh. Via: AFP: Leaked diplomatic cables vividly show China’s willingness to translate its massive holdings of US debt into political influence on issues ranging from Taiwan’s sovereignty to Washington’s financial policy. China’s clout — gleaned from its nearly $900 billion stack of US debt — has been widely commented on in the United States, but […]
Home Prices Still Falling, ‘Expect Further Declines This Year’
February 22nd, 2011Via: AP: Home prices in a majority of major U.S. cities tracked by a private trade group have fallen to their lowest levels since the housing bubble burst, and analysts expect further declines this year. The Standard & Poor’s/Case-Shiller 20-city home price index fell 1 percent in December from November. Prices fell in all but […]
Federal, State and Local Debt Hits Post-WWII Levels
February 22nd, 2011Via: Washington Post: The daunting tower of national, state and local debt in the United States will reach a level this year unmatched just after World War II and already exceeds the size of the entire economy, according to government estimates. But any similarity between 1946 and now ends there. The U.S. debt levels tumbled […]
Italian Stock Market Halted: Technical Difficulties?
February 22nd, 2011Oh sure. Via: Wall Street Journal: The European country considered most exposed to the unrest in Libya is its former colonial ruler, Italy. And investors wanting to do something about that today have limited options: the Italian Bourse is closed due to technical problems. It is expected to reopen at 9:30 ET. On Monday, the […]
Detroit to Close Half of Public Schools
February 22nd, 2011Via: The Detroit News: Swift and severe changes are coming to Detroit Public Schools. State education officials have ordered Robert Bobb to immediately implement a financial restructuring plan that balances the district’s books by closing half of its schools, swelling high school class sizes to 60 students and consolidating operations.
Oil Surges 4%
February 21st, 2011Via: CNN: Oil prices surged more than 4% early Monday as antigovernment protests in the Middle East and Africa intensified, raising worries about possible supply disruptions. Crude oil for April delivery gained $3.80, or 3.8%, to $93.51 a barrel after earlier jumping as high as $93.75. U.S. oil prices have been trading in a range […]
