Archive for the 'Economy' Category
In U.S., 14% Rely on Food Stamps
November 5th, 2010Via: Wall Street Journal: A huge number of American households are still relying on government assistance to buy food as the recession continues to batter families. Food stamp recipients ticked up in August, children consumed millions of free lunches and nearly five million low-income mothers tapped into a government nutrition program for women and young […]
Gold: New Record High; Intraday Break Out of Previous Range
November 5th, 2010New high: $1394.20.
Applications for Jobless Benefits Rise Sharply
November 4th, 2010Via: AP: The number of people seeking jobless benefits jumped sharply last week, after two straight weeks of declines. The increase undermines hopes that unemployment claims, after falling four times in the previous five weeks, were on a sustained downward trend. That would signal layoffs were slowing and hiring was picking up. Instead, claims remain […]
Fed Will Surpass China As Top Holder Of US Debt By The End Of The Month
November 4th, 2010Via: ZeroHedge: What is certain is that on June 30, the Fed’s balance sheet will have $2.68 trillion (or more) in holdings, of which $1.77 trillion will be in Treasurys, compared to the $840 billion today. What is also certain is that the Fed will not be able to stop there. Which is why we […]
Ireland Effectively Closed Out of Bond Markets
November 4th, 2010Via: Breaking News Ireland: As Ireland’s cost of borrowing continues to soar, an analyst has today warned that the bond markets are now effectively closed to Ireland. The interest being sought on 10-year Irish bonds today is creeping towards 8%. Although the country is not currently borrowing money, analyst Paul Somerville says that the increasing […]
DOLLAR: DOWNSIDE BREACH OF MAJOR SUPPORT
November 4th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
Panasonic Invests in Tesla
November 4th, 2010Via: Reuters: Tesla Motors has just picked up a $30 million investment from Japanese electronics giant Panasonic. The two companies announced late on Wednesday that Panasonic — a preferred battery cell supplier for Tesla’s electric vehicles — has bought a $30 million stake in the Palo Alto, Calif.-based car maker. Panasonic made the investment through […]
Federal Reserve Buying $600 Billion in U.S. Government Debt
November 3rd, 2010Via: CNBC: The Federal Reserve, in one of the most eagerly awaited decisions in months, agreed to buy $600 billion more of government debt to help jump-start the US economy, despite worries that the move carries significant risks for the US dollar and financial markets.
Did Somebody Just Try to Buy the British Government?
November 3rd, 2010Update: Video —End Update— Wow, oh wow. Here’s one for your Double Plus WTF? file folder. It’s in the Lords Hansard. That’s the link. Scroll down to 1 Nov 2010 : Column 1538. Tell me this is simply a case of a codger and too many single malt drinkies. If not, this is the most […]
GoldMoney Now Using Ultrasound on Clients’ Gold Bars
November 3rd, 2010Disclosure: I have no relationship with GoldMoney. Via: GoldMoney: As of October 2010 we have begun using ultrasound scanning technology to verify that each of the gold bars we store for you is free of foreign materials and defects. Any bar that fails the ultrasound test is melted down, assayed and then recast into a […]
