Archive for the 'Economy' Category
Gold at Record vs. Euro and Sterling
April 10th, 2010Via: Telegraph: The price of gold has risen to an all-time high in sterling and euro terms. In dollar terms the gold price is about 5pc below its record, but the weakness of the pound and the euro against the American currency means that for investors in Britain and the eurozone the precious metal has […]
33 States Out of Money to Fund Jobless Benefits
April 10th, 2010Via: CNN: With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans. A total of 33 states and the Virgin Islands have depleted their funds and borrowed more than $38.7 billion to provide a safety […]
Major U.S. Banks Masked Risk Levels
April 9th, 2010Via: Reuters: Major U.S. banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York. The paper said on Friday 18 banks, including Goldman Sachs Group, Morgan Stanley, […]
State Governments Delay Tax Refunds
April 9th, 2010Via: AP / MSNBC: Give people their money. It’s the rallying cry of lawmakers around the country pushing back against states that are delaying tax refunds to shore up their budgets. Holding on to the refunds allows states to use the money for other purposes, earn interest on it or simply wait until there’s enough […]
As Greek Bond Rates Soar, Bankruptcy Looms
April 9th, 2010Via: New York Times: As interest rates on Greek debt spiral upward again, the question facing Europe is no longer whether Athens has the political will to cut spending and raise taxes to curb its gaping budget deficit, but whether Greece will run out of money before it gets the chance to do so. With […]
Ashtabula County: Judge Tells Residents to Arm Themselves
April 9th, 2010Via: WKYC: In the ongoing financial crisis in Ashtabula County, the Sheriff’s Department has been cut from 112 to 49 deputies. With deputies assigned to transport prisoners, serve warrants and other duties, only one patrol car is assigned to patrrol the entire county of 720 square miles. “I did the best with what they (the […]
Federal Reserve Chairman Ben Bernanke Sounds a Warning on Growing Deficit
April 8th, 2010*chortle* For a translation of the slop below, see: America’s Impending Master Class Dictatorship. Via: Washington Post: Federal Reserve Chairman Ben S. Bernanke warned Wednesday that Americans may have to accept higher taxes or changes in cherished entitlements such as Medicare and Social Security if the nation is to avoid staggering budget deficits that threaten […]
Canada’s Only Bullion Bank Gold Vault Is Practically Empty
April 8th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument. DISCLOSURE: I am a BullionVault client and affiliate. During the interview, Lenny Organ states that he was in the ScotiaMocatta vault in 2008. What’s the situation now??? Anyone dealing with precious metals, especially precious metals certificates, should listen to this. Central […]
Los Angeles Could Run Out of Money in About Four Weeks
April 7th, 2010Via: Los Angeles Times: City Controller Wendy Greuel declares an ‘urgent financial crisis’ and says the only way to continue paying bills in the short term is to begin draining the city’s already limited emergency reserve. The city’s top financial official issued a grim assessment of the escalating budget crisis Monday, warning that Los Angeles […]
FDA Suppressed Imaging Safety Concerns
April 7th, 2010Via: AP: A former Food and Drug Administration scientist said Tuesday his job was eliminated after he raised concerns about the risks of radiation exposure from high-grade medical scanning. Dr. Julian Nicholas told an audience of imaging specialists that he and other FDA staffers “were pressured to change their scientific opinion,” by managers in the […]
