Archive for the 'Economy' Category
Tesla Raises $226 Million in 1st U.S. Carmaker IPO in 54 Years
June 29th, 2010Via: Bloomberg: Tesla Motors Inc., the electric car company that hasn’t posted a profit, advanced as much as 12 percent after raising $226 million in the first initial public offering of a U.S. automaker in a half century. The maker of the $109,000 electric Roadster bought by Brad Pitt and George Clooney rose to $19 […]
Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion
June 29th, 2010Via: CNBC: For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg. According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts […]
RBS: “Get Ready for the Cliff-Edge”
June 28th, 2010Buy U.S. Treasuries? Anyway… Via: CNBC: The credit team at RBS in London are getting very bearish and warning clients to “get ready for the cliff-edge,” where prices of stocks and commodities will “collapse.” RBS credit chief Andrew Roberts said the edge is just around the corner for the European banking industry and the economies […]
A Quiet Crisis Whispers of Impending Poverty
June 28th, 2010Via: Automatic Earth: “The ECRI leading indicator produced by the Economic Cycle Research Institute plummeted yet again last week to -6.9, pointing to contraction in the US by the end of the year. It is dropping faster that at any time in the post-War era.” The latest data from the CPB Netherlands Bureau shows that […]
Canada: Show ID or Face Arrest Near G8 and G20 Summits
June 26th, 2010Via: Ottawa Citizen: The Ontario government secretly passed legislation giving police sweeping new powers for the duration of the G8 and G20 summits. Police are now able to jail anyone who refuses to furnish identification and submit to a search while within five metres of a designated security zone in downtown Toronto. Critics reacted furiously […]
Monsanto Wins as Supreme Court Backs Alfalfa Seed Planting
June 22nd, 2010Via: Bloomberg: The U.S. Supreme Court, ruling in favor of Monsanto Co., overturned a judge’s ban on the planting of alfalfa seeds engineered to be resistant to the company’s Roundup herbicide. The 7-1 ruling shifts the focus of the environmental dispute to the Agriculture Department, which under today’s ruling now can consider allowing limited planting. […]
Chinese Manufacturers Looking to Replace Workers with Machines
June 22nd, 2010Mmm hmm. New Sharp Flat Panel Factory: No Humans on Assembly Line Etc. etc. etc. Via: Bloomberg: New minimum wage laws, a looser yuan and worker strikes like those affecting Honda Motor Co. and Toyota Motor Corp. are raising costs at plants in China’s Pearl River Delta, leading to increased automation of assembly lines. Foxconn […]
LORD ROTHSCHILD INVESTS IN BULLIONVAULT
June 22nd, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. That’s it for me. I’m finished promoting BullionVault for use by Cryptogon readers. I know that many of you have substantial holdings with BullionVault. In fact, Cryptogon readers have deposited just over US$2 million with BullionVault. It’s not that I see […]
Yuan Strengthens Most Since 2005 After China Signals End to Peg
June 21st, 2010Via: Bloomberg: The yuan rose the most since a July 2005 revaluation and forwards jumped after China’s central bank ended a two-year peg before a Group of 20 summit this week. The currency advanced 0.42 percent to 6.7976 per dollar as of 5:30 p.m. in Hong Kong, the biggest gain since July 2005, according to […]
Power of the Purse Volume 1
June 21st, 2010Lee Rogers of roguegovernment.com and the Live Free or Die radio show sent me a copy of his new documentary film, Power of the Purse Volume 1. It’s almost five hours of fiat currency Hell, including a dog leg into the 9/11 spectacle. I was particularly interested in the portions of the film that dealt […]
