Archive for the 'Economy' Category
Oil Companies Plan Evacuations From Libya
February 21st, 2011Update: Reuters: Gaddafi Fled Libya, on Way to Venezuela [???] Venezuela denies: A senior source in the Venezuelan government denied on Monday reports that Libyan leader Muammar Gaddafi was traveling to the South American oil-producing nation led by his ally President Hugo Chavez. The Caracas government “denies such information,” the source told Reuters. Via: Reuters: […]
Does the Air Force Already Have a Secret Stealth Bomber?
February 21st, 2011Via: Wired: The Air Force “consistently refers to its new bomber as based on ‘proven technology,’ but there is no known basis of proof for its most important single feature: a degree of stealth high enough to assure survival in a heavily defended area, combined with affordability in manufacture and support.” But that doesn’t mean […]
What Is a Commercial Signal Failure?
February 21st, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Wow, that silver chart is one of the nuttiest things I’ve ever seen. Congratulations silver longs. Personally, I’m only holding a few pounds of pre-1964 quarters that I thought might be useful as post collapse money someday… I have to say, […]
Chief British Scientist: Solar Storms Could Create $2 Trillion ‘Global Katrina’
February 21st, 2011Via: Guardian: The threat of solar storms that could wreak havoc on the world’s electronic systems must be taken more seriously, the UK government’s chief scientist has warned. A severe solar storm could damage satellites and power grids around the world, he said, leading to a “global Katrina” costing the world’s economies as much as […]
Twitter Valued at $10 Billion, Facebook Worth More Than Ford?
February 21st, 2011Investors bring the money, Wall Street brings the matches. Via: Guardian: Two years ago, anthropologist Sekai Farai was awarded a grant by Columbia University to study the technology startup community. Her timing couldn’t have been better: a new goldrush is under way as twentysomethings from New York, London and San Francisco dream of making their […]
Bank Run: South Korea Suspends Four Savings Banks for Six Months in Liquidity Crunch
February 20th, 2011Via: Bloomberg: South Korea’s Financial Services Commission suspended the business of four local savings banks for six months from today due to a liquidity crunch. The four banks are Bohae Mutual Savings & Finance Co. and three subsidiaries of Busan Savings Bank — Jungang Busan Savings Bank, Busan II Savings Bank, and Jeonju Savings Bank, […]
Japanese Official: Doubling of Sales Tax Needed to Shore Up Finances
February 20th, 2011Via: Bloomberg: Japan needs to more than double its 5 percent consumption tax to shore up the government’s finances given soaring debt and welfare costs, a member of Prime Minister Naoto Kan’s tax and social security panel said. “I don’t think an increase to 10 percent is enough,” former Financial Services Minister Hakuo Yanagisawa said […]
Washington: State Legislation Would Require Collection of Personal Data for Gold Purchases Over $100
February 19th, 2011Via: ZeroHedge: A bill proposed in the State of Washington (House Bill 1716), by representatives Asay, Hurst, Klippert, Pearson, and Miloscia, whose alleged purpose is to regulate secondhand gold dealers, seeks to capture “the name, date of birth, sex, height, weight, race, and address and telephone number of the person with whom the transaction is […]
Ex Judge Convicted of Racketeering; Taking Bribes from For-Profit Juvenile Detention Centers
February 19th, 2011Via: AP: A former juvenile court judge was convicted Friday of racketeering in a case that accused him of sending youth offenders to for-profit detention centers in exchange for millions of dollars in illicit payments from the builder and owner of the lockups. Luzerne County ex-Judge Mark Ciavarella, 61, left the bench in disgrace two […]
Florida: State Farm Blames Sinkholes for 28% Rate Hike Request
February 17th, 2011[???] Via: Tampa Bay Online: Citing sinkhole losses and higher operating expenses, State Farm Florida asked state regulators today for a 28 percent premium increase on its homeowners policies. Sinkhole claims, which are approaching $2 billion over the past five years in Florida, have exploded at a great cost to the insurance industry.
