Archive for the 'Economy' Category
Conspiracy of Banks Rigging States Came With Crash
May 19th, 2010I had always assumed the entire business of the markets to be a massive criminal enterprise that allowed public participation simply because it made a few people extremely wealthy. —Insider Crimes, Funny Money and Options Rackets Via: Bloomberg: A telephone call between a financial adviser in Beverly Hills and a trader in New York was […]
Plug in and Be Lit up by the American Hologram
May 18th, 2010Via: Joe Bageant: Ahhhh … Safely in the American national illusion, where all the world’s a shopping expedition. Or a terrorist threat. No matter, as long as it is colorful and wiggles on the theater state’s 400 million screens. Plug in and be lit up by the American Hologram. This great loom of media images, […]
‘Lack of Trust’ Pummels Bank Lending in Europe
May 18th, 2010Via: Bloomberg: Money markets are showing rising levels of mistrust between Europe’s banks on concern an almost $1 trillion bailout package won’t prevent a sovereign debt default that might trigger a breakup of the euro. Royal Bank of Scotland Group Plc and Barclays Plc led financial firms punished by rising borrowing costs, British Bankers’ Association […]
Specter of Inflation Haunts Europe
May 17th, 2010Via: Spiegel: If Europe’s single currency is really to be saved, fundamental reforms have to follow the emergency bailout by euro-zone members. The biggest danger comes, however, from the European Central Bank, which has given up its role as the protector of price stability. The risk of inflation is increasing.
Euro Down Hard Again: EUR/USD Breaches 1.23 Intraday
May 17th, 2010We’re off to a pretty hairy start on the Asia FOREX session. EUR/USD 1.2288 Monitoring…
New York Midwives Lose Right to Deliver Babies at Home
May 16th, 2010Via: New York Times: As residents of the world’s consumer capital, New Yorkers can have anything delivered to their door at any time. They can have their hair cut in the living room, have champagne and caviar rushed to them on a whim, enjoy a shiatsu massage in their own bed or invite a clairvoyant […]
Ten Things For 2010
May 15th, 2010Via: Market Ticket: Yes, I expected the game to end in 2009. I did not believe that our government could sell a net $1.5 trillion of new issuance (debt) for more than a year or so, nor could they roll over some $600 billion every month to keep the Ponzi going for long. They got […]
Detroit to Use Federal Money to Demolish Thousands of Abandoned Homes
May 14th, 2010Via: Wall Street Journal: Detroit is finally chipping away at a glut of abandoned homes that has been piling up for decades, and intends to take advantage of warm weather and new federal funding to demolish some 3,000 buildings by the end of September. Mayor Dave Bing has pledged to knock down 10,000 structures in […]
Sarkozy Threatened to Quit Euro in Showdown with Germany
May 14th, 2010Via: EUbusiness: French President Nicolas Sarkozy threatened to pull his country out of the euro currency group to force Germany to help Greece with its debt crisis, El Pais newspaper reported Friday, quoting Spanish Prime Minister Jose Luis Rodriguez Zapatero. Sarkozy made the threat at a Brussels summit of EU leaders last Friday that sealed […]
GULF OIL LEAK MAY BE 14X WORSE THAN OFFICIAL ESTIMATE
May 14th, 2010Via: Bloomberg: U.S. Representative Edward Markey said he is concerned BP Plc’s well in the Gulf of Mexico may be leaking as much as 70,000 barrels of oil a day, compared with previous estimates of 5,000 barrels. Underestimating the spill may hinder efforts to control it, the Massachusetts Democrat said in a statement yesterday. Markey […]
