Archive for the 'Economy' Category
How Goldman Gambled on Starvation
July 2nd, 2010I’ll point to my commentary on this from 2008, CBOT Resembles Carnival Act as Billion Dollar Black Box Operators Move In: Leveraged speculation on commodities shouldn’t be allowed. Speculate on things like indexes, stocks, bonds and currencies until you’re blue in the face. None of those things are real anyway. But leveraged speculation on tangible […]
Banned FEMA Formaldehyde Trailers Return for Latest Gulf Disaster
July 2nd, 2010Children in Katrina Trailers May Face Lifelong Ailments FEMA Trailer Manufacturers Knew About Formaldehyde, Findings Went Undisclosed Formaldehyde-Laced Death Trailers to Haiti!? Judge Rejects Class-Action Status in FEMA Trailer Suits Via: New York Times: In the wake of Hurricane Katrina, they became a symbol of the government’s inept response to that disaster: the 120,000 or […]
UK Firm Octel Bribed Iraqis to Keep Buying Toxic Fuel Additive
July 1st, 2010Via: Guardian: The former chief executive of a British chemical company faces the prospect of extradition to the US after the firm admitted million-dollar bribes to officials to sell toxic fuel additives to Iraq. Paul Jennings, until last year chief executive of the Octel chemical works near Ellesmere Port, Merseyside, and his predecessor, Dennis Kerrison, […]
May Pending Home Sales Plunge Record 30 Percent
July 1st, 2010Splat. Via: Reuters: Contracts for pending sales of previously owned homes plunged a record 30 percent in May, far more than expected, after a popular tax credit expired at the end of the prior month, a survey from the National Association of Realtors showed on Thursday. The Realtors said its Pending Home Sales Index, based […]
National Debt Soars to Highest Level Since WWII
July 1st, 2010Via: USA Today: The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office.
The Insane Overuse of Antibiotics in Industrial Meat Production
June 30th, 2010This is another one for your Captain Obvious file folder. Also, if you’re concerned about issues like this, and try to eat clean food, you might be mentally ill. Have a nice day, and make sure to take your happy pills with your ammonia burger. Via: New York Times: Federal food regulators took a tentative […]
UN: Scrap Dollar as Sole Reserve Currency
June 30th, 2010SDRs blah blah. It’s a meta fiat currency. In other words, out of the frying pan and into the fire. Via: Reuters: A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value. But several European officials attending […]
Dumbing Down Society Part I: Foods, Beverages and Meds
June 30th, 2010Via: Vigilant Citizen: Scientific data has been proving for years that governments around the world are tolerating the selling of many products which have a direct and negative effect on cognitive and physical health.
Trading in Citigroup Shares Halted for Five Minutes
June 30th, 2010Anyone who trades ES with a depth of market tool: Did you notice anything weird happening with the sizes today? As you know, my network situation isn’t the best (understatement), but for a fraction of a second, a couple of times today, I noticed that the bid and ask sizes on each level of the […]
Banks Financing Mexico Gangs Admitted in Wells Fargo Deal
June 29th, 2010That there is institutional collusion with drug traffickers is the stuff of Captain Obvious at this late stage of the game, but this Bloomberg piece is pretty good. All the bold is from me; just noting parts that stood out. Full text below. Via: Bloomberg: Banks Financing Mexico Gangs Admitted in Wells Fargo Deal By […]
