Archive for the 'Economy' Category
Google Maps Foreclosure Visualizations: Prepare Yourself To Be Floored
January 27th, 2011Recovery. Via: The Big Picture: I wanted to demonstrate the full extent of Foreclosures in the US, so after setting GMaps on foreclosure listings, I slowly zoomed out of the map. Voila! Most foreclosures that are for sale in the USA are now showing on your screen. More: Bigger Pics
California May Close Some State Parks and Eliminate Funding for Public Libraries
January 27th, 2011And these measures are like spitballs against the $25 billion deficit. Via: Sacramento Bee: After spending a century building the nation’s largest and most majestic state park system, Californians are poised to do something unprecedented: Retreat from that legacy and start closing parks. Years of budget cuts in the California State Parks system have resulted […]
Egyptian Stock Market Halted; Losses Deepen After Re-Open
January 27th, 2011Via: Daily News Egypt: Trading resumed on Egypt’s stock market after a 40-minute suspension early Thursday, and had fallen 10.587 percent on the day as of 1:20 pm Cairo local time. The broader EGX 70 was down more than 16 percent. A spokesperson at the Egyptian Exchange told Daily News Egypt that the trading session […]
E-mails Suggest Bear Stearns Cheated Clients Out of Billions; Sold Investors ‘A Sack of Shit’
January 27th, 2011Via: The Atlantic: Former Bear Stearns mortgage executives who now run mortgage divisions of Goldman Sachs, Bank of America, and Ally Financial have been accused of cheating and defrauding investors through the mortgage securities they created and sold while at Bear. According to e-mails and internal audits, JPMorgan had known about this fraud since the […]
Largest Soybean Sale Ever Between U.S. and China
January 26th, 2011Via: Grainnet: Agriculture Secretary Tom Vilsack issued Jan. 25 the following statement on the reported sale of 2.74 million metric tons of U.S. soybeans to China in the 2011-12 marketing year: “Today’s sale of 2.74 million tons of U.S. soybeans to China is the single largest daily soybean sale since USDA began issuing daily sales […]
$20 Billion in Counterfeit U.S. Government Bonds Confiscated in Italy
January 26th, 2011There’s some confusion with the currency specified. The headline indicates 20 billion euros and the body states 20 billion dollars. I’m not able to find much more one this so far. Via: AP: Italy confiscates euro20 billion in fake US bonds Carabinieri on travel break nab 6 carrying counterfeit US bonds worth euro20 billion On […]
2011 DEFICIT TO HIT $1.5 TRILLION
January 26th, 2011Via: AP: A new estimate predicts the federal budget deficit will hit almost $1.5 trillion this year, a stunning new record. The latest figures from the Congressional Budget Office are up from previous estimates because Congress and President Barack Obama teamed up in December on bipartisan legislation to extend Bush-era tax cuts that were due […]
New-Home Sales in 2010: Lowest in 47 Years
January 26th, 2011Via: AP: Buyers purchased the fewest number of new homes last year on records going back 47 years. The Commerce Department says sales for all of 2010 totaled 321,000, a drop of 14.4 percent from the 375,000 homes sold in 2009. It was the fifth consecutive year that sales have declined after hitting record highs […]
Postal Service Could Close Thousands of Post Offices
January 26th, 2011Via: Wall Street Journal: Now, with the red ink showing no sign of stopping, the postal service is hoping to ramp up a cost-cutting program that is already eliciting yelps of pain around the country. Beginning in March, the agency will start the process of closing as many as 2,000 post offices, on top of […]
Bank of England: Standard of Living to Plunge at Fastest Rate Since 1920s
January 26th, 2011Via: Telegraph: Households face the most dramatic squeeze in living standards since the 1920s, the Governor of the Bank of England warned, as he reacted to the shock disclosure that the economy was shrinking again. Families will see their disposable income eaten up as they “pay the inevitable price” for the financial crisis, Mervyn King […]
