Archive for the 'Economy' Category
Fed to Buy More of Its Own Debt
August 11th, 2010*chortle* Via: Bloomberg: Federal Reserve officials decided to reinvest principal payments on mortgage holdings into long-term Treasury securities, making their first attempt to bolster growth since March 2009 to keep the slowing U.S. economy from relapsing into recession. “The pace of economic recovery is likely to be more modest in the near term than had […]
Student-Loan Debt Surpasses Credit Cards
August 11th, 2010Bubble, bubble, toil and trouble: Look at overall inflation vs. college education inflation. Via: Wall Street Journal: Consumers now owe more on their student loans than their credit cards. Americans owe some $826.5 billion in revolving credit, according to June 2010 figures from the Federal Reserve. (Most of revolving credit is credit-card debt.) Student loans […]
Elizabeth Warren Uncovered What the Government Did to ‘Rescue’ AIG, and It Ain’t Pretty
August 10th, 2010Unless the AIG imbroglio is untangled, the rest of this is nonsense. —Cryptogon, April 20, 2010 Here’s another one for your voluminous Captain Obvious file. Via: Alternet: The government’s $182 billion bailout of insurance giant AIG should be seen as the Rosetta Stone for understanding the financial crisis and its costly aftermath. The story of […]
‘Buy and Bail’
August 10th, 2010Via: Bloomberg: Harvey Collier, a mortgage broker in Fort Lauderdale, Florida, says he gets as many as 10 calls a month from people planning to default on their loans. The twist: They first want financing to buy another home. Real estate professionals call it “buy and bail,” acquiring a new house before the buyer’s credit […]
Plane Carrying Former Senator Ted Stevens Crashes in Alaska
August 10th, 2010Update: Ted Stevens Killed In Plane Crash Via: CBS News: Ted Stevens, the longest-serving Republican senator in U.S. history who lost his seat after a corruption conviction that was later dismissed, was killed Tuesday in a small plane crash in Alaska. He was 86. A family friend said Stevens was among five people killed in […]
Many Girls Now Begin Puberty at Age 7, 8
August 10th, 2010See: Child Diabetes Blamed on Food Sweetener: Scientists have proved for the first time that a cheap form of sugar used in thousands of food products and soft drinks can damage human metabolism and is fueling the obesity crisis. Fructose, a sweetener derived from corn, can cause dangerous growths of fat cells around vital organs […]
U.S. to Sell $30 Billion Worth of Fighter Jets to Saudi Arabia
August 9th, 2010Via: Wall Street Journal: The Obama administration plans to sell advanced F-15 fighter jets to Saudi Arabia but won’t equip them with long-range weapons systems and other arms whose inclusion was strongly opposed by Israel, diplomats and officials said. The proposed $30 billion, 10-year arms package, which would be one of the biggest single deals […]
Goldman Sachs Involved with Despicable Bucket Shop Education Scams
August 9th, 2010Via: Bloomberg: Carrianne Howard dreamed of designing video games, so she enrolled in a program at the Art Institute of Fort Lauderdale, a for-profit college part-owned by Goldman Sachs Group Inc. Her bachelor’s degree in game art and design cost $70,000 in tuition and fees. After she graduated in December 2007, she found a job […]
“The U. S. patent code was never meant to cover your genes, your cells, your blood, or the marrow in your bones. But it does.”
August 9th, 2010Via: Esquire: Like, for example, the gene called BRCA1. There’s a chance you have that gene. There’s an even better chance your wife has it, or your sister or your mom, because that’s the gene for breast cancer. If you could test yourself for BRCA1 right now, or if you could test your wife or […]
John Williams: Times That Try Our Souls
August 9th, 2010This is a good piece and I’ve clipped some of the passages that I felt were the best. I’d recommend clicking through and reading the whole thing. The advice given is in line with what you’ve been seeing on Cryptogon for years. With regard to the speculation about private property being outlawed: The federal government […]
