Archive for the 'Economy' Category
Bank of America Halts Foreclosures in All States
October 8th, 2010See: MERS/MBS/Foreclosure Goes RICO Via: Bloomberg: Bank of America Corp., the biggest U.S. lender, will halt foreclosures in all 50 U.S. states to determine whether documents used to seize homes from people had the correct data. “We will stop foreclosure sales until our assessment has been satisfactorily completed,” the Charlotte, North Carolina- based company said […]
California: State Cancels Access to Welfare Benefits on Cruise Ships and Casinos
October 7th, 2010I should have a California category to complete with Florida. Via: Los Angeles Times: California officials are cutting off use of state-issued welfare debit cards at casinos across the country and on cruise ships, in the wake of Times reports that the aid cards have been used to spend or withdraw millions of dollars in […]
UK Home Prices Plunged Record 3.6% in September
October 7th, 2010Via: Bloomberg: U.K. house prices plunged in September by the most since at least 1983, adding to evidence that the housing market faces a renewed slump as the government readies the biggest spending cuts since World War II. The average cost of a home fell 3.6 percent from August to 162,096 pounds ($258,000), Halifax said […]
White House Blocked Government Scientists from Warning American Public of the Potential Environmental Disaster Caused by BP Oil Spill
October 7th, 2010See floridaoilspilllaw.com for full time coverage of the ongoing disaster in the region. Via: Guardian: The White House blocked government scientists from warning the American public of the potential environmental disaster caused by BP’s broken well in the Gulf of Mexico, a report released by the national commission investigating the oil spill said yesterday. The […]
U.S. Arrests 130 Puerto Ricans, Including 90 Police Officers, on Charges Related to Drug Trafficking
October 7th, 2010Clear out the upstarts. Eliminate the competition. Keep prices high. Via: AP: Hundreds of FBI agents flew into Puerto Rico to round up dozens of police officers accused of aiding drug traffickers Wednesday — one of the darkest days yet for a force tarnished by recent allegations of brutality, discrimination and incompetence. In pre-dawn raids, […]
Killing Each Taliban Soldier Costs $50 Million?
October 6th, 2010There are, however, a few metrics by which “victory” for the U.S. in Afghanistan may be measured. First of all, the fact that mayhem continues is a victory for the corporations that profit from the absurd war-related contracts. There’s the unknown billions of heroin related dollars that are generated from covert operations in Afghanistan. The […]
Reminder: Possible DX Support Ahead
October 5th, 2010Warning: This is not a recommendation to buy, sell or hold any financial instrument. Gold is sharply higher today, with the spot metal reaching a new record high of $1342.30. Let’s look ahead a few days to a couple of weeks. Gold may pull back a bit if DX sees the support ahead, but the […]
Super-Rich Investors Buy Gold by Ton
October 5th, 2010Via: Reuters: The world’s wealthiest people have responded to economic worries by buying gold by the bar — and sometimes by the ton — and by moving assets out of the financial system, bankers catering to the very rich said on Monday. Fears of a double-dip downturn have boosted the appetite for physical bullion as […]
Two-Year Treasury Yield Falls to Record Low
October 4th, 2010Via: Bloomberg: Treasury two-year yields fell to a record before a government report that economists said will show orders to U.S. factories declined, adding to speculation the Federal Reserve will increase asset purchases. Three-year note yields touched the lowest since 1962 before an employment report on Oct. 8 is forecast to show no change in […]
Meredith Whitney: States Will Need Federal Bailout Within a Year
October 4th, 2010Via: Bloomberg: The U.S. government will face pressure to bail out struggling states in the next 12 months, said Meredith Whitney, the banking analyst who correctly predicted Citigroup Inc.’s dividend cut in 2008. While saying a bailout might not be politically viable, Whitney joined investor Warren Buffett in raising alarm bells about the potential for […]
